New Jersey First State to Offer Fixed-Odds Bets at Tracks

Sat, Aug 14, 2021

With the signature of Governor Phil Murphy, New Jersey became the first state in the country to offer fixed-odds betting at the tracks. Unlike parimutuel wagers, odds do not change with the number of bets.

New Jersey First State to Offer Fixed-Odds Bets at Tracks

Horse racing in the U.S. historically employs parimutuel wagering in which the odds for a horse change right up to post time. New Jersey became the first state in the country to legalize fixed odds, where the odds on a horse that you bet on remain the same no matter how many wagers are placed on the same horse.

Licensees will pay a share of their revenue from fixed-odds bets to the standardbred or thoroughbred permit holder, according to iGB North America.

Parimutuel bets will still be available as well. BetMakers has an exclusive 10-year fixed-odds deal for thoroughbred horse racing in New Jersey.

“The introduction of fixed-odds betting on horse racing by law in New Jersey is an historic moment for wagering in the U.S. and a landmark achievement for BetMakers,” said BetMakers CEO Todd Buckingham.

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