Australian gaming technologies and software firm BetMakers Technology Group Limited has announced that it has helped New Jersey’s historic Monmouth Park Racetrack to begin offering fixed-odds retail betting.
The Sydney-listed firm used an official press release (pdf) to detail that its innovations assisted the 151-year-old facility in processing a first-ever fixed-odds retail wager on Friday following the passage of enabling legislation in the summer of last year. The company also explained that the owner of the Monmouth County venue, Darby Development LLC, now intends to roll out such services for as many as ten daily races being hosted at a range of other North American tracks in advance of introducing similar opportunities concerning international contests.
Newcastle-headquartered BetMakers Technology Group Limited revealed that it has moreover agreed to help Darby Development LLC to premiere a Monmouth Park Racetrack-branded fixed-odds online wagering service with this advance potentially set to go live from as soon as next month. The innovator stated that this should allow it to continue engaging with online sportsbook operators across the United States who may be looking ‘to incorporate horseracing as a part of their wagering offering.’
Christian Stuart serves as the North American Chief Executive Officer for BetMakers Technology Group Limited and he used the press release to describe his firm’s alliance with Darby Development LLC as ‘a momentous occasion’ for both parties as well as the wider horseracing industry of the United States. The figure furthermore pronounced that ‘the landmark legislation’ ratified by New Jersey Governor Phil Murphy on August 5, 2021, made the eastern state the first to legalize fixed-odds wagering so as to allow its thoroughbred industry to offer such entertainment in the same way as other sportsbetting markets.
Read a statement from Stuart…
“We believe horseracing is the untapped vertical for sports bookmakers as they look to deliver more content more often to their acquired databases with products that can deliver solid margins. We continue to lead the charge to deliver what we believe is the renaissance of horseracing in the United States.”
Established in 2013, BetMakers Technology Group Limited is additionally intent on expanding its already considerable presence and inked a deal in January of last year to purchase the racing and digital assets of British pools betting innovator Sportech. The Australian enterprise subsequently signed an arrangement that saw it begin supplying horseracing data and live streams covering approximately 250,000 annual races taking place in over 20 nations to iGaming platform developer Pronet Gaming.