Horse race wagering technology provider BetMakers has announced that it has signed a two-year deal with bet365 that will see the British bookmaker offer fixed odds bets on horse racing in New Jersey and Colorado.
The deal will also allow bet365 to distribute BetMakers’ horse racing content in New Jersey and horse racing and harness racing content in Colorado.
As part of the New Jersey deal, bet365 will pay a market access fee to BetMakers which will be based on all fixed odds bets placed in New Jersey on thoroughbred horse racing. There will also be a content fee payable based on all fixed odds bets placed in both New Jersey and Colorado that are associated with BetMakers Global Racing Network content.
be365 will also be allowed to seek approval from BetMakers to offer fixed odds wagering on third party global thoroughbred horse racing. If the company agrees deals with third party operators, bet365 must still pay an access fee to BetMakers.
Speaking of the deal, Jake Henson, BetMakers CEO, commented:
“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.
The sports betting market in the US is starting to mature and the interest from operators in horseracing as a product is expected to become even stronger. The high frequency of horseracing 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.”
Earlier in 2024, BetMakers partnered with Kambi. This saw the Kambi integrate BetMakers’ Price Manager fixed odds platform into its sportsbook.
In May of 2023, BetMakers launched of MonmouthBets, the first legal and regulated mobile application for fixed odds betting on horse racing in the United States. The app was launched in partnership with Monmouth Park ahead of its 78th season of Thoroughbred racing.
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.