- Key takeaway one: BetMakers has inked a transformative two-year deal with bet365, introducing fixed odds bets on horse racing in New Jersey and Colorado.
- Key takeaway two: The partnership extends to distributing BetMakers’ horse and harness racing content, boosting their Global Racing Network's reach.
- Key takeaway three: This collaboration marks a pivotal shift towards fixed odds betting in the US, potentially reshaping the horse racing betting landscape.
In a groundbreaking move set to revolutionize the US horse racing betting scene, BetMakers, a leading provider of horse race wagering technology, has announced a pivotal two-year agreement with bet365, one of the world's premier bookmakers. This partnership is poised to introduce fixed odds bets on horse racing in New Jersey and Colorado, signaling a new era for betting enthusiasts and the industry at large.
The deal's scope extends beyond mere wagering; it also enables bet365 to distribute BetMakers’ rich horse racing content in New Jersey and both horse racing and harness racing content in Colorado. This collaboration not only enhances the betting experience but also amplifies the accessibility and variety of horse racing content available to enthusiasts in these states.
As part of the agreement in New Jersey, bet365 commits to a market access fee contingent on the volume of fixed odds bets placed on thoroughbred horse racing. Additionally, a content fee will be levied on all fixed odds bets in both New Jersey and Colorado that utilize BetMakers Global Racing Network content. This fee structure underscores the mutual benefits of the partnership, ensuring a shared commitment to the growth and success of fixed odds betting in the US.
Moreover, the deal grants bet365 the opportunity to expand its betting offerings to include third-party global thoroughbred horse racing, pending approval from BetMakers. This clause further broadens the horizon for bet365, allowing for a more diverse betting portfolio and enhancing the customer experience.
BetMakers views this agreement as a significant milestone, aligning perfectly with its strategic vision for the US market. The company's CEO expressed excitement over launching fixed odds betting on thoroughbreds in partnership with a leading sportsbook, highlighting the maturing US sports betting market and the growing interest in horse racing as a product. With the high frequency of horse races offering both high engagement and margin returns, the potential for significant long-term benefits for BetMakers and the racing industry at large is immense.
This partnership comes on the heels of BetMakers' recent collaboration with Kambi in early 2024, integrating the Price Manager fixed odds platform into Kambi's sportsbook. Additionally, May 2023 saw the launch of MonmouthBets, the first legal and regulated mobile application for fixed odds betting on horse racing in the United States, developed in partnership with Monmouth Park. These developments underline BetMakers' commitment to innovating the US horse racing betting landscape, setting new standards for the industry and offering unparalleled betting experiences to enthusiasts across the nation.
In essence, the BetMakers and bet365 partnership not only heralds a significant shift towards fixed odds betting in the US but also paves the way for an enriched, diverse, and engaging horse racing betting ecosystem. With both companies poised to redefine the contours of the betting landscape, the future of horse racing betting in New Jersey, Colorado, and beyond looks brighter than ever.
