BetMakers launches fixed-odds betting on horseracing in New Jersey

Racing and betting fans can now place fixed-odds bets as well as pari-mutuel bets at Monmouth Park.

US.- BetMakers Technology Group has launched fixed-odds betting on horseracing in New Jersey, adding pari-mutuel bets at Monmouth Park. The launch was made possible through a partnership between BetMakers Technology Group, the New Jersey Thoroughbred Horseman Association, and Darby Development.

Players at Monmouth Park can place bets at terminals with self-service from Global Tote’s new BetLine series. BetMakers will also launch a new website and mobile app for fixed odds betting on racing. The company will be opening up betting for certain out-of-state tracks that are under a fixed-odds content distribution deal with BetMakers’ Global Racing Network division.

Christian Stuart, BetMakers CEO for North America, said: “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.”

New Jersey sports betting handle surpasses $1bn in March

New Jersey sports betting handle surpassed $1bn in March, the sixth time in the last seven months. After missing the $1bn mark in February when it processed $985.6m in wagers, the state passed the mark in March to collect $1.12bn.

New Jersey sports betting handle registered a 30.7% year-over-year increase from $859.6m in March 2021. Sportsbooks registered $66.4m in revenue in March, a 9.5% increase year-over-year and a 115.1% increase from February.

See also: BetMakers sponsors Kentucky Downs