PointsBet launches fixed odds racing in NJ
Operator partners with BetMakers and Monmouth Park to take bets on races at the New Jersey track
PointsBet has secured a partnership with odds provider BetMakers to launch fixed-odds racing in New Jersey.
The operator will take bets on races at Monmouth Park, and intends to expand its offering to include other domestic and international races in the future.
As part of the agreement, PointsBet will also have the option to offer fixed-odds betting on horseracing to its casino partners in states where it has gained market access, although this will depend on local regulation.
PointsBet group CEO Sam Swanell said: “Securing an agreement with BetMakers is a major step in what we believe to be an important strategy for our US plans.
“As a company we understand thoroughbred, harness and greyhound racing and we intend to capitalize in the expertise we have gained in Australia as we roll out racing products into the US market,” he added.
PointsBet to launch horseracing in New Jersey via odds supplied by BetMakers
A significant chunk of PointsBet’s business in Australia comes from racing.
With races still operating during the coronavirus lockdown, the firm recorded $12.1m in profit between April 1 and May 25 via its Australian business.
BetMakers CEO Todd Buckingham said: “BetMakers sees PointsBet as a perfect partner to launch fixed odds in the US.
“We have a great working relationship with PointsBet, which is one of the fastest growing bookmakers in Australia and burgeoning US market,” Buckingham added.
BetMakers partnered with Monmouth Park in February to exclusively provide fixed-odds bets on its races in New Jersey to other operators.
It this week added six additional North American tracks to its Global Racing Network in Washington, Oregon, Texas, Canada and Illinois. Races at these tracks will now be available to New Jersey operators to take bets on.
The supplier has also entered into a two year agreement with data rights provider Equibase.
In June BetMakers raised $24m in investment to fuel its expansion into the US market.
You can read more about BetMakers’ plans to provide race betting in the US here.