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Legal fixed-odds horse racing betting launches in New Jersey

Fixed-odds betting on horse racing is now available legally in New Jersey, after BetMakers Technology Group, Darby Development and the New Jersey Thoroughbred Horseman Association (NJTHA) rolled out a new service in New Jersey.

As of 7 May, racing and betting fans can place both fixed-odds and pari-mutuel wagers on races at Darby Development’s Monmouth Park via self-service terminals.


The initial launch will be complemented by the rollout of a new website and a mobile app for fixed-odds betting on racing, powered by BetMakers and Equibase.


BetMakers said it is also working with sportsbook operators to launch fixed-odds wagering in their established betting apps.


In addition, from this week, BetMakers will open up betting on eligible out-of-state tracks that are under a fixed-odds content distribution agreement with BetMakers’ Global Racing Network division.


“BetMakers could not be prouder to be introducing a new slate of enhancements, including fixed odds betting on racing, to the USA and especially to be doing so with such visionaries as the team at Monmouth Park,” BetMakers’ chief executive for North America, Christian Stuart, said.


“We believe fixed-odds wagering will not only appeal to our valued racing customers but also has the potential to expand the market to all customers that currently enjoy sports betting, which has grown tremendously across the USA since the repeal of PASPA in 2018.

“The sport of horse racing has a proud tradition but is also able to embrace progress and that is exactly is what we are delivering to Monmouth Park’s racing and betting fans this season.”


The launch comes after BetMakers in January extended its fixed-odds and data distribution deal with Darby Development and the NJTHA. This extended BetMakers’ exclusive rights for delivering and managing fixed-odds betting on thoroughbred horse racing into New Jersey from the initial period of 10 years to a longer term of 15 years.


BetMakers signed its initial 10-year fixed-odds agreement in February 2020, ahead of New Jersey passing new legislation to legalise this from of wagering.


New Jersey in August last year became the first US state to legalise fixed-odds horse racing betting when its Governor Phil Murphy signed a new bill into law.


Widely known as the Fixed-Odds Wagering Act, the legislation allows customers to place fixed-odds horse racing bets through official license-holders, rather than only pari-mutuel bets.

Source: https://igamingbusiness.com/



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