BetMakers Launches Fixed-Odds Horseracing Betting in New Jersey
There is good news for New Jersey-based sports bettors as fixed-odds betting on horseracing has become legally available.
The change is the result of a new service being offered by BetMakers Technology Group, Darby Development, and the New Jersey Thoroughbred Horseman Association (NJTHA). The service went live on 7 May, and it allows fans to place both fixed-odds and pari-mutuel bets on self-service terminals at Darby Development’s Monmouth Park.
Together with the launch of the self-service terminals, there is a new website and a mobile app for fixed-odds betting that is powered by BetMakers and Equibase. Furthermore, BetMakers has said that it is working with sportsbook operators within the state to launch fixed-odds betting through their existing apps.
This week, BetMakers is set to start offering betting on eligible tracks in other states that fall 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. 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 what we are delivering to Monmouth Park’s racing and betting fans this season.
Last August, New Jersey became the first US state to legalize fixed-odds horseracing betting when it was signed into law by Governor Phil Murphy. Known as the Fixed-Odds Wagering Act, the bill allows bettors to place fixed-odds horseracing bets at official license-holders. Prior to the Act, only pari-mutuel bets were legal.