A full 24 hours before [last] Friday’s 2 p.m. first race at Monmouth Park, horse racing bettors around New Jersey with a monmouthbets.com account could place a wager and guarantee themselves those odds.

That’s the lure of “fixed odds” betting: Take early favorite Cassation at even money, or “2.00” by the decimal listing for fixed odds, and that will be your price.

For traditional parimutuel bettors, they may take Cassation at the same odds 10 minutes before the race, only to see the odds drop to something much lower such as 1/5 just as the horses leave the starting gate in Oceanport.

Bettors in the United Kingdom, Ireland, and Australia have been making fixed-odds bets for many years.