Ann: Regulatory Framework for Fixed Odds Betting on Horse Racing, page-7

REGULATORY FRAMEWORK FOR FIXED ODDS BETTING ON HORSE RACING
The Board of BetMakers Technology Group Ltd (ASX:BET) (“BetMakers” or the “Company”) is
pleased to announce that it has today (overnight in the United States) received notice outlining
regulatory framework for Fixed Odds betting to commence on horse racing in New Jersey.
The Company will update the market shortly in regard to when it intends to begin, with its
partners, the facilitation of Fixed Odds betting in New Jersey.
Chief Executive Officer of BetMakers, Mr Todd Buckingham said:
“We are extremely pleased to have been notified of the regulatory framework that
supports the recently approved legislation for Fixed Odds betting on thoroughbred
horse racing and we now look forward to working with our partners to deliver and
manage Fixed Odds betting on thoroughbred racing within this market.”
“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”
“In line with BetMakers’ agreement with New Jersey Thoroughbred Horsemen
Association and Darby Development LLC., the Company expects to start facilitating
Fixed Odds betting on track at Monmouth Park before the end of this year, and that
the roll-out of Fixed Odds to online wagering service providers will begin and
continue throughout 2022.”
BetMakers announced to the market on 6 August 2021 that 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. As previously announced to the market, BetMakers has secured an
exclusive 10-year agreement with New Jersey Thoroughbred Horsemen Association and Darby
Development LLC., the operator of Monmouth Park racetrack, to deliver and manage Fixed
Odds thoroughbred horse racing into New Jersey. Please see the Company’s announcements
dated 5 February 2020, 3 July 2020, 21 May 2021 and 22 June 2021 for further information
regarding this agreement.