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MonmouthBets is the First Legal Fixed Odds Horse Racing App in the US

by Dave Schwab - 7/31/2023

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Horse racing fans in New Jersey can bet on the daily card with fixed odds by using MonmouthBets. BetMakers Technology Group launched its mobile horse racing betting app in May, and the Australian wagering technology firm focused on fixed odds to place a bet in that state.

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Monmouth Park in Oceanport, NJ was the first live horse track to offer bets with fixed odds in its daily race cards. Following its introduction, BetMakers created fixed odds wagering in a new horse racing betting app subject to approval by the New Jersey Division of Gaming Enforcement.

BetMakers CEO Jake Henson commented:

“With last year’s retail offering setting the foundation, we are excited and honored to bring fixed odds betting to horseplayers through or MonmouthBets digital platforms. Fixed odds betting will help to form a healthy betting ecosystem for horse racing in New Jersey and beyond, with the transformative potential to provide a massive benefit to the entire racing industry.”

MonmouthBets went live a with the fixed odds betting app on May 13, which was Monmouth Park’s opening day of its spring schedule. CEO and Chairman of Darby Development, operators of Monmouth Park is Dennis Drazin. He also commented at the time MonmouthBets was introduced:

“We’re excited about the prospect of being able to offer fans the ability to wager online, as easily and conveniently as they now do with sports betting, through this innovative app for fixed odds horse racing. We believe it will attract new customers, drive growth and increase handle significantly.”

BetMakers Adds Racing Content From Hollywood Casino at Penn National Race Course

BetMakers has recently announced that Penn National Race Course is providing horse racing content to its betting services. Through a proprietary license, BetMakers will supply fixed odds wagering services in New Jersey for the daily horse racing card at Penn National. This includes horse racing data, digital platforms and retail terminals.

Penn National Race Course offers some of the best nighttime competitive thoroughbred horse racing in the US. Parent company PENN Entertainment entered into an agreement with BetMakers’ Global Racing Network earlier in July. The delivery of fixed odds wagering content will carry over to other PENN Entertainment racetracks in the coming months pending the state’s horse racing commission’s approval.

Chris McErlean is Vice President – Racing for PENN Entertainment. He recently said:

“We are very happy to work with BetMakers of offer New Jersey’s racing fans an opportunity to bet fixed odds on Hollywood Casino at Penn National Race Course. We are interested in the reaction to our product in the New Jersey fixed odds wagering marketplace and hope that it will provide positive returns for not only Penn National but the wider racing industry.”

Including Penn National, there are now 16 horse racetracks with fixed odds wagering across the US, Canada, the Caribbean and South America. BetMakers CEO Jake Henson added:

“We are delighted to make Penn National’s excellent racing available to fixed odds bettors in New Jersey. In addition to conducting some of the highest quality racing in the United States, Penn National’s available for fixed odds betting helps further expend New Jersey’s fixed odds betting content schedule.

PENN Entertainment is a valued partner to BetMakers and we are excited to demonstrate the opportunities that the combination of fixed odds and tote betting – when offered on a robust racing menu – can offer North American racing’s stakeholders. We look forward to adding more PENN Entertainment content in the future.”

US Horse Racing Bettors Want Fixed Odds Wagers

According to a survey by BetMakers on fixed odds wagering, more than four-out-of-five US horse racing bettors want to assess fixed odds when betting a horse race. There is a clear desire for the betting public to have innovative choices for horse race wagering. Fixed odds bets is one of the more popular aspects on the table.

BetMakers’ technology powers MonmouthBets as the first and only fixed odds wagering platform in the US. Another notable finding of the BetMakers’ survey is 67% of US sports bettors would make a bet on horse racing if the availability was in the sportsbook mobile app. Two-thirds of US sports bettors also said that they would be more likely to wager on horse races if they had fixed odds.

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