Great to see the final "sign off" come through
Love these parts of the announcement:
“Legalised Fixed Odds betting on horse racing in the U.S. has been a pillar of BetMakers’ strategic vision and today’s announcement enables the Company to press forward with the roll-out of Fixed Odds betting in New Jersey while also setting a precedent legal framework that is relevant for our discussions with other States in the U.S.”
Monmouth Park Chairman and CEO Dennis Drazin said:
“Just like Sports Betting, New Jersey will become the first state to legalise Fixed Odds betting on Horse Racing and we are very excited about what this can do for the industry.
Our partners BetMakers are ready to go and we are open for business.
What this means is that any wagering operator in New Jersey who wants to bet Fixed Odds on horse racing must have an agreement through our partners, BetMakers, which will enable us to control the returns paid to the racing industry.”
“We believe this model will deliver the best outcome for the racing industry across the US and from our racing partners globally. Importantly, we are now ready to progress with any racing body, either domestically in the U.S. or internationally, on how Fixed Odds can deliver a beneficial outcome for them in the New Jersey market.
Likewise, for wagering operators who can now bet Fixed Odds in New Jersey, we look forward to progressing to final arrangements through our partners BetMakers.”
U.S. lobbyist Bill Pascrell III from Princeton Public Affairs, representing BetMakers, concluded:
“As a part of the legislative process in New Jersey that has resulted in Fixed Odds betting horse racing becoming law, we have worked with stakeholders and regulatory authorities to ensure a collaborative and consultative engagement in the interests of all parties, and we believe this approach over an extended period of time has been an important factor, including for our future plans.
As was the case with Sports Betting, I expect that various other States will follow in their adoption of a model for Fixed Odds on horse racing, and this is something Princeton Public Affairs and BetMakers are working towards in discussions across the U.S.”
Onwards and upwards from here!!
(20min delay)