BetMakers has unveiled its new mobile app MonmouthBets, the first legal and regulated app for fixed odds betting on horse racing in the US.
The Australia-based betting technology firm was a huge proponent of the launch of fixed odds betting on horse racing in the US, an activity that became legal for the first time in decades in the State of New Jersey last year.
The ruling allowed racing fans to place fixed odds on races at Monmouth Park in Oceanport, New Jersey.
Following its introduction, BetMakers signaled its intention to create fixed odds wagering in a new betting app, an objective that has now become a reality following approval by the New Jersey Division of Gaming Enforcement.
“With last year’s retail offering setting the foundation, we are excited and honored to bring fixed odds betting to horseplayers through our MonmouthBets digital platforms,” said BetMakers CEO Jake Henson.
“Fixed odds betting will help to form a healthy betting ecosystem for horse racing in New Jersey and beyond, with the transformative potential to provide a massive benefit to the entire racing industry.”
The launch will act as a welcome addition to the 83% of US horseplayers polled in a recent survey by BetMakers, who backed a fixed betting option to co-exist alongside the pari-mutuel wagering system.
The company’s survey results also revealed two-thirds of US sports bettors polled would be more likely to wager on horse racing if fixed odds were available.
Dennis Drazin, CEO and Chairman of Darby Development, operator of Monmouth Park, added: “We’re excited about the prospect of being able to offer fans the ability to wager online, as easily and conveniently as they now do with sports betting, through this innovative app for fixed odds horse racing. We believe it will attract new customers, drive growth and increase handle significantly.”
MonmouthBets will accept wagers from Monmouth Park from its opening day on May 13.
Meanwhile, BetMakers recently announced the departure of North American CEO Christian Stuart after 15 months at the helm.
