- BetMakers (BET) becomes the first bookmaker to offer fixed odds on horse racing in the US
- The Governor of New Jersey has signed the landmark “Fixed Odds Bill”, which was passed unanimously in June and is now approved to be made law
- The achievement complements BET’s 10-year deal with the operator of Monmouth Park racetrack to deliver fixed odds horse racing in the state
- BET says the milestone – together with its acquisition of Sportech’s racing, tote and digital business – will accelerate its expansion in the US
- BetMakers’ shares are up 8.65 per cent to $1.13 at 11:15 am AEST
BetMakers (BET) has officially become the first bookmaker to offer fixed odds on horse racing in the US.
The historic achievement was sealed by the Governor of New Jersey, who has signed the landmark “Fixed Odds Bill”, authorising it to become law.
This Bill was passed unanimously by the Senate and General Assembly back in June but required the Governor’s signature to approve it as legislation.
BetMakers CEO Todd Buckingham said the new law was a historic moment for wagering in the US and a milestone for the company.
“Legalised fixed odds betting on horse racing in the US has been a pillar of BetMakers’ strategic vision,” he said.
“Today’s announcement enables the company to press forward with the rollout 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.”
The achievement complements BET’s previously announced exclusive 10-year deal with New Jersey Thoroughbred Horsemen Association and Darby Development — the operator of Monmouth Park racetrack — to deliver and manage fixed odds thoroughbred horse racing in New Jersey.
BET said the new legislation – coupled with the company’s recent acquisition of the racing, tote and digital business from Sportech – would accelerate its expansion in the US.
Following the announcement, BetMakers’ share price galloped ahead by 8.6 per cent to $1.13 at 11:15 am AEST.