BetMakers Technology Group has extended its fixed-odds and data distribution deal with Darby Development and the New Jersey Thoroughbred Horseman Association (NJTHA).
Both have extended the terms for BetMakers to be the exclusive provider for delivering and managing fixed-odds betting on thoroughbred horse racing into New Jersey from the initial period of 10 years to 15 years.
As part of the terms of the amended agreement, Global Racing Network (GRN), the trading name of the subsidiary, will now become the exclusive representative of the NJTHA to enter into new relationships related to fixed-odds wagering on thoroughbred racing in New Jersey.
In addition, Darby Development and Monmouth Park has appointed GRN as the exclusive licensee of the racecourse’s thoroughbred content for the provision of fixed-odds wagering within the state.
“I believe the model that has been agreed for fixed-odds betting on horse racing in New Jersey is the best model globally for the sustainability of horse racing and the fairest model for all participants, including racing bodies, rights holders, and operators of sportsbooks,” BetMakers Chief Executive, Todd Buckingham, said. “We look forward to updating the market on the sub licenses deals which we expect to award to operators over the coming months.”
The NJTHA has also authorized GRN to license and distribute any thoroughbred content to third parties for the provision of fixed odds wagering on win, place and show bets.
“We are very excited to be able to deliver a new product to one of the most important stakeholders in racing – the punters – who will be able to have the choice to fix the price of their runner when placing a win, place or show bet,” said Buckingham.
“Fixed odds – and the certainty of price setting for the person placing the bet – has attracted a new audience of people betting on sport, and I expect this will be the case for horse racing,” said BetMaker’s North America CEO, Christian Stuart. “Having recently joined BetMakers in a key role in the US – and understanding the model that has been created for fixed odds betting on horse racing in New Jersey – I believe it presents a good opportunity for sportsbooks to add racing to their fixed odds offerings to customers.”
GRN will also serve as the NJTHA’s exclusive licensee for providing fixed odds wagering within New Jersey on live thoroughbred content.
Darby Development chairman and chief executive Dennis Drazin said, “BetMakers has already contributed significantly to Monmouth Park and to the horsemen in New Jersey and we see BetMakers as a strong long-term partner to assist us in our endeavors to make horse racing the best it can be.”