Fixed odds betting on horse racing is now legal in New Jersey after BetMakers Technology Group, Darby Development and the New Jersey Thoroughbred Horsemen’s Association (NJTHA) rolled out new services in New Jersey.
As of May 7, racing and betting fans can place both fixed-odds and pari-mutuel bets on races at Derby Development’s Monmouth Park via a self-service terminal.
The initial launch will be complemented by the rollout of a new website and mobile app for betting on fixed-odds races powered by BetMakers and Equibase.
BetMakers also said it will work with sportsbook operators to launch fixed-odds betting on established betting apps.
Additionally, starting this week, BetMakers will begin betting on eligible out-of-state tracks under a fixed-odds content distribution agreement with BetMakers’ Global Racing Network division.
“BetMakers is proud to bring new enhancements to the US, including fixed-odds betting on races, especially with visionaries like the Monmouth Park team.” Christian Stuart said.
“Fixed odds betting will not only appeal to our valued racing customers, but to all customers currently enjoying the tremendous growth in sports betting across the United States since the demise of PASPA in 2018. We believe it has the potential to expand the market.
“The sport of horse racing has a proud tradition, but it can also embrace progress.
The launch comes after BetMakers extended its fixed odds and data distribution agreements with Darby Development and NJTHA in January. This extends BetMaker’s exclusivity to distribute and manage fixed-odds his betting on Thoroughbred horse racing in New Jersey from his initial 10-year term to his 15-year long term.
BetMakers signed an initial 10-year fixed-odds contract in February 2020. This was before New Jersey passed a new law legalizing this from gambling.
Last August, New Jersey became the first U.S. state to legalize fixed-odds horse racing, with Governor Phil Murphy signing a new law into law.
Commonly known as the Fixed Odds Betting Act, this law allows customers to place fixed-odds horse racing bets through official license holders as well as pari-mutuel bets.