Have you ever seen a horse you want to to bet on at 15, 10 or even 8 to 1 in the morning line odds and wished you could bet the horse at those odds? Anyone who enjoys playing the races wants just that. Even newcomers to the track who pick up a program and see odds listed on each horse wonder why an 8 to 1 horse is 2 to 1 come post time.
The dream for horseplayers is about to come true in New Jersey, specifically Monmouth Park.
Management at Monmouth Park in New Jersey, which opens its meeting on May 20, is confident fixed odds betting will be ready to go for the racing season. New Jersey legalized sports betting in 2018. BetMakers will offer fixed odds on horses in races; fixed-odds betting allows players to lock in a price on a horse at the time the bet is made. This is different than pari-mutuel betting, where odds fluctuate until post time, before all bettors receive the same price on a horse.
by George Tchetvertakov; SmallCaps.Com.au
Racing data and analytics supplier BetMakers Technology Group (ASX: BET) has struck an exclusive 10-year deal that will see it managing fixed odds horse racing in the US state of New Jersey.
Earlier today, BetMakers confirmed it had signed an agreement with New Jersey Thoroughbred Horsemen Association and US company Darby Development which operates the Monmouth Park racetrack in Oceanport.
The racetrack serves as a key venue in the annual racing season and hosts its premier event, the Haskell Invitational, every year.
The agreement will see BetMakers managing fixed odds horse racing services at the track while securing access to exclusive distribution of Monmouth Park racing content throughout the US and internationally.
Under terms of the agreement, BetMakers will be the only approved distributor of fixed odds horse racing content in New Jersey. Furthermore, the company will be responsible for providing a solution for racing bodies from the US to access licenced bookmakers operating in New Jersey.
Read more here:
Woodbine Entertainment CEO Jim Lawson has been speaking at length about sports wagering and fixed odds betting and its importance to the horse racing industry and had a reaction:
Woodbine CEO Jim Lawson says Fixed Odds Betting a ‘Game Changer‘
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