Horse racing

New Jersey has become the first US state to legalise fixed-odds horse race betting after the state’s Governor Phil Murphy signed the Fixed-Odds Wagering Act into law.

The legislation allows customers to place fixed odds horse racing bets through official licence-holders, whereas previous on pari-mutuel (peer to peer) bets were permitted.

Mr Murphy’s signature comes after the bill received unanimous approval in both the New Jersey Senate and assembly in June.

Licensees will be required to pay a share of their revenue from bets to the horse breeder permit holder.

The BetMakers Group has an exclusive 10-year fixed-odds agreement on thoroughbred horseracing in New Jersey, thanks to its deal with the New Jersey Thoroughbred Horseman Association and Darby Development, which operate Monmouth Park racetrack.

This means any aspiring operator of horse race betting in New Jersey that wants to allow fixed odds wagers on horseracing must negotiate with the company.

Commenting on the passing of the law, BetMakers CEO Todd Buckingham said: “The introduction of Fixed Odds betting on horseracing by law in New Jersey is a historic moment for wagering the US and a landmark achievement for BetMakers.

“New Jersey become the first state in the US to offer Fixed Odds betting on horseracing, and opens the door for the thoroughbred industry to offer Fixed Odds betting markets on racing in the same way as sports.”

Continue Reading

Playtech reports ‘standout performance’ in US B2B business, headwinds in Latin America

21 May 2025
by Robert Fenech

CEO Mor Weizer described the period as a ‘busy start to the year’ marked by major strategic progress

BetGames appoints Maciej Smolarek as new Chief Technology Officer

6 May 2025
by Nicole Zammit

He has a background in software development and more than a decade of experience managing engineering teams

Betsson customers increase to 1.4 million as EBITDA rises to €77.7 million

2 May 2025
by Robert Fenech

Betsson CEO Pontus Lindwall said iGaming will continue to grow ‘for many years to come’ as gambling activity continues to shift online

Fast-tracking gaming success in Malta

23 April 2025
by iGamingCapital.mt

ICON fills capability gaps without disrupting established workflows, bringing enterprise-calibre capabilities while maintaining flexibility

See more