BetMakers Technology Group’s subsidiary BetMakers DNA (BDNA) has signed an agreement with PointsBet USA to start betting on horse racing in New Jersey territory. The contract, subject to regulatory approvals, follows on from last month ‘s announcement that BetMakers will have on-course control of fixed odds on behalf of the Monmouth Park racetrack in New Jersey.
Within BDNA’s deal to provide fixed odds betting in the Garden State this new announcement formalises legal conditions for PointsBet USA.
PointsBet USA chief innovation officer Seth Young commented: “Securing an agreement with Betmakers is a major step in what we believe to be an important strategy for our US plans. We understand horse racing and we intend to capitalise on this expertise as we roll out racing products into the US market, starting with New Jersey.”
Monmouth Park CEO Dennis Drazin said: “As a business, Monmouth Park is foremost looking forward to revenue opportunities immediately presented by PointsBet USA signing as the first operator to offer fixed odds betting in New Jersey through our exclusive partnership with BetMakers.
“More broadly, through the BetMakers agreement, we see the fixed odds betting type as having great potential for horse racing to be a preferred wagering choice across the US, which can increase both the profile of Monmouth Park and horse racing in general.”
BDNA will also include its wagering technology with the former racing solution, under the terms of the contract with PointsBet USA. This involves data and pricing solutions from BetMakers through Global Betting Services which allows PointsBet to provide a comparable product to its Australian customers to US customers.
Sam Swanell, CEO of PointsBet said: “We look forward to working with BetMakers for our entry into the US horse racing market, which we believe is a big opportunity. BetMakers have been great product and technology services suppliers as well as being overall supporters of our Australian operation, and we see them as an important solution for our US progression.”
BetMakers CEO Todd Buckingham added: “The deal with PointsBet completes an approved and regulated end-to-end supply chain model to launch fixed odds betting in the US market for the first time. The stage is now set for the first fixed odds bets to be taken on horse racing in the US and there are two reasons we believe this can be successful.
“Firstly, we have seen that US punters have shown an appetite for fixed odds on other sports through their $4.5bn annual turnover in New Jersey, and secondly because we have seen the strong trend in Australia that has seen fixed odds betting become the dominant type of betting option preferred by punters.”