PointsBet Offers NJ Betting Solutions For Horseracing Odds

Australian and US sports betting operator PointsBet Holdings has become New Jersey’s first online sportsbook to sign up for the BetMakers’ new fixed betting solution for horse race odds.

The agreement will see BetMakers provide its wagering technology solutions, including data and pricing services, as the operator looks to offer a similar offer to Australian customers to their US customers.

PointsBet USA chief innovation officer Seth Young said: “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 in New Jersey.”

PointsBet CEO Sam Swanell added: “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.”

The contract with PointsBet comes after BetMakers won the exclusive rights to last month’s New Jersey racetrack Monmouth Park offering fixed odds horse race betting.

BetMakers CEO Todd Buckingham commented: “The deal with PointsBet completes an approved and regulated end-to-end supply chain model to launch fixed odds betting into the US market for the first time.

“BetMakers sees PointsBet as a perfect partner to launch fixed odds in the US. We have a great working relationship with PointsBet and as one of the fastest growing wagering companies in the Australian market, we don’t see any reason why this would be any different in the US.”

Monmouth Park CEO Dennis Drazin added: “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 horseracing to be a preferred wagering choice across the US, which can increase both the profile of Monmouth Park and horse racing in general.”

Shares in Pointsbet Holdings Ltd (ASX: PBH) closed at AUD$6.33 per share in Sydney earlier Friday up 3.43 percent, while shares in BetMakers Technology Group Ltd (ASX: BET) closed at $0.455 up 10.98 percent.