Annual Growth Conference Presentation
Sydney, Aug 12, 2022 AEST (ABN Newswire) - Betmakers Technology Group Ltd (ASX:BET) (TPBTF:OTCMKTS) has now launched fixed odds betting on horse racing in New Jersey in partnership with the industry.
Sports Betting Live or Regulated in 32 states
The rapid roll out of sports betting bolsters the opportunity to bring fixed odds racing wagering to the US. Millions of newly acquired customers now know how to fixed odds wager and are expected to easily adopt fixed odds horse racing. It's also an opportunity for legacy players to expand their wallets with new wager types
Fixed Odds for Horse Racing
On 6 August 2021, the New Jersey Governor signed a bill to authorize fixed odds betting on horse racing in the state of New Jersey. New Jersey is the only state live with fixed odds betting on horse racing. Colorado has released regulations and is working to go live. Other states will follow once the benefits are demonstrated in NJ and CO (as happened with Sports Betting)
New Jersey Fixed Odds Exclusive Contract
BetMakers has exclusive arrangements with Monmouth Park racetrack, and the New Jersey Thoroughbred Horsemen Association (together "NJ Partners") to deliver and manage fixed odds thoroughbred horse racing into New Jersey. These arrangements mean that any wagering operator who wishes to offer fixed odds on the NJ Partners' thoroughbred racing can enter into a commercial agreement with BetMakers and go live post technical approval from the DGE
Content Distribution Opportunities
BetMakers is currently working with multiple parties on commercial arrangements that would see BetMakers distribute fixed odds betting on interstate and international racing to wagering operators in New Jersey
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About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (OTCMKTS:TPBTF) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.
Betmakers Technology Group Ltd