PointsBet partners BetMakers to enter US horse racing market

10th July 2020 7:55 am GMT

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

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

“Securing an agreement with BetMakers is a major step in what we believe to be an important strategy for our US plans,” said PointsBet USA chief innovation officer Seth Young. “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 deal with PointsBet comes after BetMakers secured the exclusive rights to offer fixed odds horse race betting from New Jersey racetrack Monmouth Park last month.

“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,” said BetMakers CEO Todd Buckingham. “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 commented: “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 up 3.43 per cent at AUD$6.33 per share in Sydney earlier Friday, while shares in BetMakers Technology Group Ltd (ASX:BET) closed up 10.98 per cent to $0.455.

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