Horse race wagering technology provider BetMakers has announced that it has signed a two-year deal with bet365 that will see the British bookmaker offer fixed odds bets on horse racing in New Jersey and Colorado.
The deal will also allow bet365 to distribute BetMakers’ horse racing content in New Jersey and horse racing and harness racing content in Colorado.
As part of the New Jersey deal, bet365 will pay a market access fee to BetMakers which will be based on all fixed odds bets placed in New Jersey on thoroughbred horse racing. There will also be a content fee payable based on all fixed odds bets placed in both New Jersey and Colorado that are associated with BetMakers Global Racing Network content.
be365 will also be allowed to seek approval from BetMakers to offer fixed odds wagering on third party global thoroughbred horse racing. If the company agrees deals with third party operators, bet365 must still pay an access fee to BetMakers.
Speaking of the deal, Jake Henson, BetMakers CEO, commented:
“We are very excited to be launching fixed odds betting on thoroughbreds in partnership with a leading sportsbook in the US. This is a significant milestone for BetMakers and aligns with our strategy for fixed odds betting on thoroughbreds in the US.
The sports betting market in the US is starting to mature and the interest from operators in horseracing as a product is expected to become even stronger. The high frequency of horseracing can deliver high engagement and high margin returns to operators. We believe the opportunity for both BetMakers and the racing industry more broadly to be significant in the long term.”
Earlier in 2024, BetMakers partnered with Kambi. This saw the Kambi integrate BetMakers’ Price Manager fixed odds platform into its sportsbook.
In May of 2023, BetMakers launched of MonmouthBets, the first legal and regulated mobile application for fixed odds betting on horse racing in the United States. The app was launched in partnership with Monmouth Park ahead of its 78th season of Thoroughbred racing.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.
In an exciting development for horse racing fans in Colorado and New Jersey, bet365 has partnered with BetMakers to introduce fixed odds betting on horse racing in these states. This partnership marks a significant step forward in the evolution of horse racing betting in the United States, offering a new and innovative way for fans to engage with the sport.
Fixed odds betting allows bettors to lock in their odds at the time of placing their bet, rather than being subject to the fluctuating odds that are typically offered in pari-mutuel betting. This gives bettors more control over their bets and the potential to secure better odds on their selections.
The partnership between bet365 and BetMakers will bring this exciting new betting option to horse racing fans in Colorado and New Jersey, providing them with a fresh and dynamic way to enjoy the thrill of horse racing. By combining bet365’s industry-leading technology and expertise with BetMakers’ innovative fixed odds platform, bettors can expect a seamless and user-friendly betting experience.
This move is also expected to attract new fans to the sport of horse racing, as fixed odds betting offers a more familiar and accessible form of betting for those who may be less familiar with the intricacies of traditional pari-mutuel betting.
In addition to offering fixed odds betting on horse racing, bet365 and BetMakers will also provide a range of other betting options, including exotic bets, multi-leg bets, and special promotions. This will give bettors plenty of opportunities to enhance their betting experience and potentially increase their winnings.
Overall, the partnership between bet365 and BetMakers represents an exciting development for horse racing fans in Colorado and New Jersey. By introducing fixed odds betting to these states, bettors can look forward to a more dynamic and engaging betting experience that is sure to enhance their enjoyment of the sport.
