BetMakers Technology Group and Monmouth Bets have launched the first legal, regulated app in the US that will feature fixed-odds betting on horseracing. The mobile app has been approved by the New Jersey Division of Gaming Enforcement.
MonmouthBets will begin taking horseracing wagers just ahead of Monmouth Park’s opening day, Saturday May 13. Monmouth Park racetrack originally debuted fixed odds retail betting in 2022 and will now offer fixed odds wagering on thoroughbred horses through MonmouthBets.
BetMakers recently conducted a survey, which polled US horseracing bettors about their views on fixed odds betting. 83% expressed the want for a fixed odds option as well as pari-mutuel wagering. Furthermore, two-thirds of American sports bettors polled expressed they would be more likely to bet on horseracing if fixed odds were offered.
BetMakers CEO, Jake Henson, said, "With last year's retail offering setting the foundation, we are excited and honored to bring fixed odds betting to bettors through our MonmouthBets digital platforms.
"Fixed odds betting will help to form a healthy betting ecosystem for horseracing in New Jersey and beyond, with the transformative potential to provide a massive benefit to the entire racing industry."
Oceanport, New Jersey’s Monmouth Park has a season of races that runs “From Mother’s Day to Labor Day,” ending September 10th. The racetrack also houses a Caesars Sportsbook.
New Jersey’s horseracing fans can place fixed odds wagers on several other North American racetracks, however, including: Tampa Bay Downs in Florida, Canterbury Park in Minnesota, Hawthorne Race Course in Illinois, Emerald Downs in Washington, Century Mile Racetrack in Alberta, Canada.
