Bet365 Enters New Jersey with Fixed-Odds Horse Racing
bet365, the global casino and sports betting giant, has announced it will provide fixed odds betting on horseracing in the US states of New Jersey and Colorado, in collaboration with BetMakers, the Australian-based B2B gaming technology provider.
bet365 and BetMakers partner to launch fixed-odds horse racing.
LISTEN TO THIS ARTICLE:The partnership between bet365 and Betmakers is a two-year deal that will see bet365 offer its customers in the two states fixed odds betting thoroughbred horseracing through a complicated licensing agreement with Betmakers.
Under the terms of the agreement, bet365 will pay BetMakers a “Market Access Fee” and a “Content Fee” for its offering in the New Jersey and Colorado states respectively.
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 horse racing as a product is expected to become even stronger.
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The statement also gave details of the profitability of the partnership saying that the platform has a high engagement level among customers and has the potential to deliver a high-margin return to both parties.
This collaboration sees bet365 become the first major gaming operator to launch in the fixed odds horse racing market in New Jersey. Although the potential revenue generated is not known, both parties believe there is a huge opportunity in the state.
BetMakers has expressed it believes this deal will generate a steady revenue stream for the business and hopes this deal will showcase its platform and attract other gaming operators to use its platform to launch in other regulated gaming states in North America.
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