BetMakers Technology Group Secures Rights for On-course Fixed Odds in New Jersey

BetMakers Technology Group has secured the rights to manage on-course Fixed Odds betting at New Jersey race track Monmouth Park.

BetMakers, through its wholly-owned subsidiary BetMakers DNA (BDNA), has signed an Agreement with Darby Development LLC, the operator of Monmouth Park, and New Jersey Thoroughbred Horsemen Association for a 5-year deal that is subject to BDNA obtaining regulatory approvals from the New Jersey Division of Gaming Enforcement and the New Jersey Racing Commission.

Under terms of the Agreement, which are confidential and commercially sensitive, BetMakers has the rights to manage on-course Fixed Odds betting on Monmouth Park’s race days as well as all other non-race days that the venue is open year-round.

The Agreement for on-course Fixed Odds rights follows the Company’s previous announcement, on February 5, that BetMakers had secured an exclusive 10-year agreement with New Jersey Thoroughbred Horsemen Association and Darby Development LLC to deliver and manage Fixed Odds horse racing into New Jersey via online bookmakers licensed in that state.

“This new deal gives BetMakers the rights to offer Fixed Odds betting using on-course terminals and manage wagering through our Managed Trading Services division. We believe this will be the first time in the U.S. that on-course patrons will be able to bet Fixed Odds on horse racing via betting terminals and at kiosk windows. We believe this will provide Monmouth Park patrons with a truly unique betting experience, and one that will be the future of betting on horse racing in the U.S. market. This new Agreement shows the full breadth of BetMakers’ services that we can offer to operators both online and in a retail environment. It is a solution that can be replicated to allow expansion of these services to other tracks and betting venues, including casinos throughout the US,” Todd Buckingham, CEO of BetMakers, said.

“We have always been forward thinking in the way we approach our business in terms of commercial outcomes and customer experiences, and bringing Fixed Odds betting to Monmouth Park for our patrons is another exciting concept to fulfil both of these aims. We believe that under this deal with BetMakers we will bring more people into our venues, which we can benefit from not only by adding an extra revenue stream via Fixed Odds, but also create more engagement to bring new customers to racing,” Dennis Drazin, CEO of Monmouth Park, said.

“There are two key factors behind our optimism on Fixed Odds betting on horse racing in the U.S. Firstly, we know that U.S. punters have shown an appetite for Fixed Odds on other sports through their $US4.5billion annual turnover on sports in New Jersey alone, and secondly we have seen the strong trend in Australia that has seen Fixed Odds betting become the dominant type of betting option preferred by punters,” Buckingham said.

“This new deal gives us the opportunity to build the perfect model at Monmouth Park to modernise the offering on horse racing through Fixed Odds betting, which we believe will be adopted throughout other racetracks in the U.S. Market,” he added.