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BetMakers Technology (ASX:BET) - CEO, Todd Buckingham
CEO, Todd Buckingham
Source: BetMakers Technology
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  • BetMakers Technology Group (BET) has received notice outlining regulatory framework for fixed odds betting on horse racing
  • A bill to authorise fixed odds wagering was signed in August by the Governor of New Jersey to become law
  • This follows an exclusive 10-year agreement with the operator of Monmouth Park racetrack to deliver and manage fixed odds thoroughbred horse racing in New Jersey
  • BetMakers says it expects to start facilitating fixed odds betting on track at Monmouth Park before the end of this year
  • BetMakers Technology is up 3.81 per cent, trading at $1.23 per share at 12:20 pm AEDT

BetMakers Technology Group (BET) has received notice outlining regulatory framework for fixed odds betting on horse racing.

A bill to “authorise fixed odds wagering on horse races through fixed odds wagering system” was signed by the Governor of New Jersey to become law in August.

This follows an exclusive 10-year agreement with the New Jersey Thoroughbred Horsemen Association and Darby Development, the operator of Monmouth Park racetrack, to deliver and manage fixed odds thoroughbred horse racing in New Jersey.

BetMakers CEO Todd Buckingham said the company is pleased to have been notified of the regulatory framework that supports the recently approved legislation.

“New Jersey will be the first state to approve fixed odds betting on horse racing and we believe this will create the framework that allows the sport of horse racing to capture a significant portion on the sports betting market that is taking off in the US,” Mr Buckingham said.

BetMakers said it expects to start facilitating fixed odds betting on track at Monmouth Park before the end of this year.

BetMakers Technology was up 3.81 per cent, trading at $1.23 per share at 12:20 pm AEDT.

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