BetMakers, a leading provider of horse race wagering technology, has announced a two-year partnership with British bookmaker bet365. This agreement will enable bet365 to offer fixed odds bets on horse racing in New Jersey and Colorado.
In addition to fixed odds betting, the deal allows bet365 to distribute BetMakers’ horse racing content in New Jersey and both horse racing and harness racing content in Colorado.
New Jersey market access and fees
Under the New Jersey agreement, bet365 will pay BetMakers a market access fee based on all fixed odds bets placed on thoroughbred horse racing in the state. There will also be a content fee for all fixed odds bets placed in both New Jersey and Colorado that involve BetMakers Global Racing Network content.
Additionally, bet365 can seek approval from BetMakers to offer fixed odds wagering on third-party global thoroughbred horse racing. Even with these external agreements, bet365 must still pay an access fee to BetMakers.
Executive commentary
Jake Henson, CEO of BetMakers, expressed enthusiasm about the partnership:
“We are very excited to be launching fixed odds betting on thoroughbreds in partnership with a leading sportsbook in the US. This is a significant milestone for BetMakers and aligns with our strategy for fixed odds betting on thoroughbreds in the US.
The sports betting market in the US is starting to mature, and the interest from operators in horseracing as a product is expected to become even stronger. The high frequency of horseracing 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.”
Previous partnerships and launches
Earlier in 2024, BetMakers partnered with Kambi, integrating BetMakers’ Price Manager fixed odds platform into Kambi’s sportsbook.
In May 2023, BetMakers launched MonmouthBets, the first legal and regulated mobile application for fixed odds betting on horse racing in the United States. This app was developed in collaboration with Monmouth Park, debuting ahead of the track’s 78th season of Thoroughbred racing.
