bet365 has launched fixed-odds horse race betting in Colorado and New Jersey in partnership with BetMakers Technology.
The rollout includes thoroughbred horse racing in New Jersey and harness racing in Colorado, adding to bet365’s existing thoroughbred racing offering in Colorado.
Under the terms of the deal, bet365 will pay BetMakers a fee based on a percentage of all fixed odds bets placed in New Jersey, and a content fee based on the number of fixed odds bets placed in New Jersey and Colorado.
“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,” said Jake Henson, chief executive of BetMakers.
“The sports betting market in the US is starting to mature, and the interest from operators in horse racing as a product is expected to become even stronger.
“The high frequency of horse racing 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,” Henson added.
“We are always actively working with rights holders to deliver opportunities for sustainable industry returns and open new opportunities in expanding growth markets. This opportunity in the US ticks both of those boxes, and we look forward to helping our partners build out a global race book.”
Shares in BetMakers Technology Group Ltd. (ASX:BET) closed 4.76 per cent lower at AUD$0.10 per share in Sydney Monday.