The BetMakers Technology Group Board of Directors applauded a unanimous decision in New Jersey’s Senate and General Assembly this week to pass the Fixed Odds Bill, which allows fixed odds betting on horse races in the state using a fixed odds wagering system.
After adjustments were made to suit horsemen groups and stakeholders, the Senate voted 40-0 in favour of the bill. After a unanimous vote of 71-0 in favour of the General Assembly, the bill was declared passed.
The bill now goes to the Governor of New Jersey for final approval before becoming law, as per the regular legislative process.
As previously disclosed, BetMakers has signed an exclusive 10-year deal with the New Jersey Thoroughbred Horsemen Association and Darby Development, the racetrack’s operator, to deliver and operate fixed odds thoroughbred horse racing in the Garden State.
Thorough and exhaustive
Todd Buckingham, the company’s CEO, stated: “We are pleased that the bill, after minor amendments, has now passed full votes on the floor of the Senate and General Assembly in New Jersey. The legislative process has been thorough and exhaustive in terms of our consultative approach with lawmakers and stakeholders in the New Jersey racing industry.
“We have done this with a view to setting the right legal and commercial framework for introducing fixed odds betting into the US through New Jersey.
“We feel the support for fixed odds as a solution to facilitate growth in the horse racing industry in the US gaining momentum throughout the industry. We are excited about what this opportunity means for the racing industry in New Jersey and more broadly in the US. We are also excited about what it enables for BetMakers as a company, and our shareholders.”