Online wagering solutions provider BetMakers has agreed a deal with the New Jersey Thoroughbred Horsemen Association and Darby Development, operator of Monmouth Park racetrack, to deliver and manage fixed-odds horseracing into the state.
The 10-year exclusive agreement, which represents the first of its kind in the US, will also see BetMakers distribute Monmouth Park racing content in other parts of the US and around the world.
BetMakers will serve as the only approved official distributor of fixed-odds horseracing content in New Jersey, providing a solution for US and international racing bodies to access licensed wagering operators operating in New Jersey.
Bookmakers will be permitted to offer fixed-odds betting on horseracing events where either the racing body or rights-holder allows such wagering. To support this, BetMakers will now seek to establish agreements with other US-based and international racetracks that want to offer content to bookmakers in New Jersey.
Operators wanting to take advantage of the scheme will need to agree to terms of the New Jersey fixed-odds model, which pays a portion of its handle back to the racetrack as so-called rights fees.
As part of the agreement, BetMakers has established the ‘Global Racing Network’, which will initially launch in New Jersey and provide a uniformed set of standard conditions for racing bodies and bookmakers, with the aim of enhancing the clarity of reporting and distribution of data and content.
In addition, BetMakers will work with Monmouth and other relevant parties to provide data and integrity reporting solutions to help protect the sport from corruption.