New Jersey Law "Changes the Game" That Causes a Transforming Growth Stage for Betting on Horse Racing Nationwide – Floridanewstimes.com

Image source: Skip Dickstein / BetMakers

The introduction of fixed odds betting for horse racing in New Jersey presents the industry with an opportunity to change the game BetMakers COO Jake HensonEventually, I believe more states will follow in the footsteps of Garden.

Talking to SBC Americas, Henson outlined the benefits of being able to offer both fixed odds and parimutuel betting and how this presents a new way to engage with bettors.

SBC Americas: Fixed odds betting in New Jersey has been locked in. How did this happen?

JH: BetMakers interest in the US market has existed even before the successful abolition of PASPA, but the recent wave of legalization of sports betting in the United States and the clear desire for sports betting with fixed odds in non-gaming states It provided a great opportunity to actively pursue. Fixed odds for betting on horse racing.

We at BetMakers are complementary products to fixed odds betting and parimutuel (or tote) betting, and in other markets such as Australia, by introducing fixed odds betting into the race with parimutuel. I know that I can make a positive profit.

The legalization of fixed odds betting on racing in New Jersey, known for its game innovation, will eventually trigger the legalization of fixed odds in other states, the first truly game-changing opportunity the industry has seen over the years. I believe in presenting.

SBC Americas: Can you outline some of the key benefits that the introduction of fixed odds betting brings to the industry?

JH: With the introduction of fixed odds as a complementary product, the racing industry can open up new revenue streams and get the product in front of a larger audience. Unlike other forms of games that have no organic connection to sports, fixed odds betting takes advantage of the large investment the industry has made in racing. As a result, stakeholders in all industries, including jockeys, operators, regulators and consumers, benefit from the growing interest in sports and the positive revenue outcomes it can drive.

By offering both tote and fixed odds betting, racing enthusiasts will have access to new options and alternative pricing models that allow betting to be diversified within the sport of racing.

In addition, the strong consumer interest in sports betting in the United States, combined with the wide availability of racing around the world and the wide daily schedule of events, positions racing as an attractive alternative to other betting sports. It also helps to attract new fans.

Finally, fixed odds market betting operators and racing authorities have access to monitoring and reporting tools that help ensure transparency and integrity. Bringing these tools to the tote betting market provides regulators, consumers and other stakeholders with a way to build and maintain confidence in the industrys products.

SBC Americas: Do you think it can coexist with parimutuel betting?

JH: absolutely. BetMakers sees fixed odds and tote betting products as a complement, and the recent acquisition of one of the worlds leading parimutuel technology providers is a testament to its belief.

Licensed operators offer both tote and fixed odds betting through an integrated system and take advantage of BetMakers fixed odds and tote solutions, extensive coverage, and well-established operations to implement effective programs. increase.

Consumers enjoy seamless presentations of both products across betting devices and digital platforms, creating a rich and engaging experience in handicap, betting and racing.

Thoth offers a choice for winning and place / show betting consumers, but accommodates a large audience of exotic bettors such as Trifectus, who can return large payments with small spending. In the United States, exotics are estimated to account for about 70% of tote betting. Both options allow bettors to combine winning and place / show betting fixed odds options while betting on the popular exotic parimutuel pool.

For example, many Australian fixed-odd panthers play exotic on totes, making bet types such as Trifectus, Kinella, Exastus, Quadrella and Trio very popular.

Operators will find new markets for racing products in the rapidly evolving global betting market while offering consumers new betting products.

From a regulatory perspective, fixed odds bets can sit side by side with Thoth within the current monitoring framework supported by BetMakers integrity and reporting tools.

SBC Americas: And finally, how can BetMakers technology help both operators and regulators to successfully deploy fixed odds bets?

JH: Having completed the acquisition of the new Global Tote division, BetMakers has the unique qualifications to bring a new unified model to the race.

BetMakers is currently all the leading technology providers needed for licensed operators to provide a seamless and integrated horse racing betting experience. This includes tote services, retail terminals, digital platforms, race day controls, fixed odds systems, data and trading solutions, integrity and reporting systems.

Our data, technology and trading solutions ideally position BetMaker as a leader in transforming the US racing environment through innovation and investment. It integrates the new Global Tote Platform with its existing enterprise platform to provide US clients with a wide range of data, content, and betting feeds currently available to BetMakers customers.

We are also investing in new technologies for the US market, including new bespoke terminal lines and new web and mobile betting platforms.

Especially in the emerging US market, we bring clients around the world a wealth of experience implementing turnkey fixed odds betting solutions. We work with our partners to outsource new services, educate and inform staff and consumers, deploy devices and online betting platforms, and implement appropriate integrity monitoring and reporting tools.

New Jersey Law Changes the Game That Causes a Transforming Growth Stage for Betting on Horse Racing Nationwide

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New Jersey Law "Changes the Game" That Causes a Transforming Growth Stage for Betting on Horse Racing Nationwide - Floridanewstimes.com