Compliance Updates
New Jersey Legalizes Fixed-odds Horse Race Betting
BetMakers Technology Group has announced that a landmark Bill to “authorize fixed odds wagering on horse races through fixed odds wagering system” (Fixed Odds Bill), which was passed unanimously in both the Senate and General Assembly in New Jersey on 21 June 2021, has now been signed by the Governor of New Jersey to become law.
Todd Buckingham, CEO of BetMakers, said: “The introduction of Fixed Odds betting on horse racing by law in New Jersey is a historic moment for wagering in the United States and a landmark achievement for BetMakers.
“New Jersey becomes the first State in the US to offer Fixed Odds betting on horse racing, and opens the door for the thoroughbred industry to offer Fixed Odds betting markets on racing in the same way as sports.
“Legalised Fixed Odds betting on horse racing in the US has been a pillar of BetMakers’ strategic vision and today’s announcement enables the Company to press forward with the roll-out of Fixed Odds betting in New Jersey while also setting a precedent legal framework that is relevant for our discussions with other States in the US.”
As previously announced to the market, BetMakers has secured an exclusive 10-year agreement with New Jersey Thoroughbred Horsemen Association and Darby Development LLC., the operator of Monmouth Park racetrack, to deliver and manage Fixed Odds thoroughbred horse racing into New Jersey.
Dennis Drazin, Chairman and CEO of Monmouth Park, said: “Just like Sports Betting, New Jersey will become the first state to legalise Fixed Odds betting on Horse Racing and we are very excited about what this can do for the industry. Our partners BetMakers are ready to go and we are open for business.
“What this means is that any wagering operator in New Jersey who wants to bet Fixed Odds on horse racing must have an agreement through our partners, BetMakers, which will enable us to control the returns paid to the racing industry.
“We believe this model will deliver the best outcome for the racing industry across the US and from our racing partners globally. Importantly, we are now ready to progress with any racing body, either domestically in the US or internationally, on how Fixed Odds can deliver a beneficial outcome for them in the New Jersey market.
“Likewise, for wagering operators who can now bet Fixed Odds in New Jersey, we look forward to progressing to final arrangements through our partners BetMakers.”
Mr. Buckingham added: “Following the green light for Fixed Odds to become law in New Jersey, it is intended that initially the first bets will be taken on course at Monmouth Park under BetMakers’ Managed Trading Services (MTS) agreement, and we are aiming to confirm a date for this to announce in coming weeks. The next step will be for approved operators who have an agreement with BetMakers to offer Fixed Odds betting to their online customers. While the company is excited by the imminent to start Fixed Odds betting, we are also mindful about doing it the most sustainable way that rewards our partners, and we will be looking to reach scale over the next 12 months.
“More broadly, horse racing in the US has the potential to significantly benefit in the current environment of sport betting and BetMakers is now at the forefront of this opportunity.
“BetMakers is setting out to increase returns paid to participants by growing the overall wagering pie on racing.
“We see Fixed Odds as an attractive betting option on horse racing for U.S. punters, especially the newer generation of betters who are accustomed to Fixed Odds betting on sports events, and who are more prolific on digital platforms.
“We believe that Fixed Odds is the missing piece of an overall offering for horse racing punters in the US, and is a complementary betting product that can sit alongside the long established Pari Mutuel tote system. BetMakers has recently shown its belief in the future of tote betting through the acquisition of Sportech assets including one of the world’s leading tote engines, the QuantumTM Tote Technology, used internationally and including for events such as the Breeders Cup and Royal Ascot race meetings.
“The experience in the Australian racing wagering landscape is that Fixed Odds – alongside tote betting – has doubled the overall wagering pie in less than 10 years, and this has grown returns to racing bodies and flowed through to participants through financial benefits including prizemoney.”
The Board and Management of BetMakers believe the legalization of Fixed Odds betting on horse racing in New Jersey and the Company’s recently completed acquisition of the racing, tote and digital business from Sportech (as announced on 18 June 2021) will accelerate its expansion in the US.
Nick Chan, Chairman of BetMakers, said: “As we have stated, the acquisition of the Sportech assets provides BetMakers with a platform to target strong growth in the United States, including with respect to Pari Mutuel and Fixed Odds wagering. The final approval for Fixed Odds wagering on horse racing in New Jersey is a critical green light to further accelerate this planned expansion.”
U.S. lobbyist Bill Pascrell III from Princeton Public Affairs, representing BetMakers, said: “As a part of the legislative process in New Jersey that has resulted in Fixed Odds betting horse racing becoming law, we have worked with stakeholders and regulatory authorities to ensure a collaborative and consultative engagement in the interests of all parties, and we believe this approach over an extended period of time has been an important factor, including for our future plans. As was the case with Sports Betting, I expect that various other States will follow in their adoption of a model for Fixed Odds on horse racing, and this is something Princeton Public Affairs and BetMakers are working towards in discussions across the US.”
MC Games has officially announced its exclusive ombudsman channel. The space arises to listen carefully to the opinions, suggestions, doubts and possible complaints of the platform’s users, ensuring direct dialogue and continuous improvement of the services offered.
Thinking about every detail so as not to leave any player with an unsolved problem, MC Games offers several steps to help players: First, the bettor finds a team with humanized support, 24 hours a day, in the chat. If the problem is still not resolved, the gaming platform offers the Ombudsman Channel to answer major questions, which are beyond the basic guidelines on how to withdraw, make a deposit or other such issues.
In a simple and intuitive way, the user is faced with the “Report on the Web” button on the site, directing him to the Customer Service Center. There, he will be able to answer questions, with the requested information, ensuring that his service happens quickly, safely, and efficiently.
The same space also works for those who want to share compliments, report the browsing experience on the platform and even send suggestions, so that the MC Games team can increasingly improve the experience of its audience, offering the most innovative in the market.
Chicago City Council members are reviving plans to legalize video gambling in the city, introducing two ordinances that could bring hundreds of terminals to O’Hare and Midway airports and allow machines citywide for the first time.
One ordinance, introduced by Alderman Gilbert Villegas (36th), targets the city’s airports, where he sees both political feasibility and high revenue potential.
“The General Assembly has provided this opportunity through the casino bill. Yet, we’re not taking advantage of capturing dollars from one of the busiest airports in the country,” Villegas said.
“People are there, in some cases, one or two hours before. If their flight is delayed or they’re making a connection and there is a delay, there’s an opportunity to capture an audience that may not even be going to the city.”
Villegas’ proposal includes a $10,000 license fee per location, plus $500 per terminal. A separate terminal license would cost $1000, with an additional $500 per unit. If 400 machines each generated $800 daily, Villegas estimates annual revenue could reach $116.8 million, with the city taking a share through licensing and taxes.
Alderman Anthony Beale (9th) is pushing for a broader citywide expansion. His ordinance would legalize video gambling throughout Chicago, including in neighborhood bars and restaurants.
“We need to do it citywide and at the airports. We need the revenue and this administration has not shown a willingness to find new revenue that’s not gonna hit the taxpayers in every household,” Beale said.
Beale’s ordinance proposes a $500 license fee per location and a $1000-per-terminal charge for both the site and the machine itself. He has criticized the administration for dismissing the potential benefits, arguing that the current tax formula could be renegotiated with state lawmakers.
“That’s because they haven’t shown the willingness to go down to Springfield and change the formula. I’m hoping that submitting these ordinances will finally convince them to send a team down there,” he said.
As CEO of Prime Skill Games Inc., I feel compelled to address recent comments made by the Alcohol and Gaming Commission of Ontario regarding so-called unapproved gambling machines in convenience stores across the province.
Let me be perfectly clear
Our machines are not gambling devices. They are entirely skill-based, fully compliant with the law, and built on the fundamental idea that players are in control. The outcome of every session is determined solely by the player’s ability, not by random chance.
Prime Skill Games is proud to be the only true skill game operating in Ontario today.
We categorically reject any suggestion that our products fall under the definition of unregulated gambling. Such statements are inaccurate, misleading, and fail to recognize the critical distinction between games of skill and games of chance.
We stand firmly behind the legality of our machines and the integrity of our operations. We will demonstrate this through every available means, whether through legal documentation, expert analysis, or, if necessary, before the courts. We are prepared and unafraid to defend the truth.
To our players, partners, and business community, we want to reassure you that our mission has not changed. We are committed to offering a responsible, transparent, and innovative entertainment experience. We will not be intimidated by broad and baseless accusations, and we will continue to move forward with strength and clarity.
Sincerely
Matt Zamroźniak
Chief Executive Officer
Prime Skill Games Inc.
-
Canada5 days agoPrime Skill Games Inc. Official Response to AGCO Press Release
-
Latest News5 days agoAmusnet Goes Live on Cactus Gaming and Strengthens its Position in the Brazilian Market
-
Latest News5 days agoLogifuture goes live in Mexico with Zoom Soccer via Aristocrat Interactive integration
-
Gambling in the USA5 days agoScientific Games’ iLottery Games Portfolio Expands as Pixiu Gaming Joins SG Content Hub
-
Latest News4 days agoKambi Group plc signs Turnkey Sportsbook partnership with Latin American operator RedCap
-
Compliance Updates4 days agoChicago City Council Members Pushing to Legalize Video Gambling
-
Compliance Updates3 days agoMC Games Announces Ombudsman Channel for User Questions
-
Latest News3 days agoCT Gaming Installs NEXT Slot Cabinets at Masaris Piura Gaming Venue