Betmakers has agreed a new deal with sports operator, Bet365, to open horse racing odds in New Jersey and Colorado.
BetMakers and Bet365 Sign Deal To Open In New Jersey and Colorado
The two-year deal will open markets in horse racing for sports betting fans in New Jersey, whilst contributing with Betmakers’ horse racing features in Colorado.
Bet365 played a huge part in the agreement, as the sports betting site will now pay a market access fee to BetMakers – which will come from a percentage of all fixed odds bets placed on horse racing events in New Jersey.
Alongside this, a content fee will be determined on fixed odds that are made through BetMakers’ horse racing content in NJ and CO.
Both companies will work in tandem, however, bet365 can now obtain approval from BetMakers to offer odds on horse racing across the globe to those in New Jersey – handing a market access fee to BetMakers from all horse racing content.
BetMakers CEO, Jake Henson, highlighted the importance of agreeing this new deal and how it can be a huge positive for the long term future of American sports betting.
He said (Via BetMakers): “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.
“The high frequency of horse racing can deliver high engagement and high margin returns to operators. We believe the opportunity for both BetMakers and the racing industry more broadly to be significant in the long term.”
BetMakers has taken huge steps in 2024, after agreeing a new partnership with Kambi Group in April and will now see its Price Manager fixed odds feature enter the Kambi sportsbook for global horse racing.
The company also obtained assets from Racelab Global, such as ProForm and Odds Engine – with the goal of increasing service quality and offering new gambling features.