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.
