BET (ASX) BetMakers not first with fixed ddds in USA?

Originally posted by JBInvest42: ↑

As an avid punter I have been reading with interest the buzz around Fixed Odds in USA and how this is a once in a lifetime bonanza. But I think people have short memories regarding Betfairs experience.

Betfair received exchange license in New Jersey 4 years ago in partnership with Golden Nugget Casino in Atlantic City. (I suppose technically not a fixed odd operator, but Betfair does offer the ability to bet fixed odds)

Betfair to Launch New Jersey Exchange Wagering New To US, Platform Allows Fixed-Odds, Pari-Mutuel Wagering; Launch To Coincide With Monmouth Park Summer Meet
"We are excited to be launching exchange wagering in New Jersey with our local horseracing stakeholders," said Kip Levin, CEO of Betfair US. "Our experience in the UK and other markets has proven that exchange wagering is an attractive prospect for consumers and that it can bring new customers, increased engagement and new revenue to horse racing." "We need to embrace technology for horse racing to attract new participants, new customers and new revenue streams and we are confident that exchange wagering can help us do that," said Dennis Drazin, the president of Darby Development, which manages Monmouth Park Racetrack. "We think this can be a net positive for our industry and that it can complement traditional wagering."
^{https://www.prnewswire.com/news-releases/betfair-to-launch-new-jersey-exchange-wagering-300255422.html}

I don’t think many would disagree that the result was not as great as expected.

Just because NJ issues a licence doesn’t mean all other states will follow (they didn’t with Betfair), also I understand California State Horsemens Assoc is actively lobbying against fixed odds compared to pari-mutuel because of fear of reduction in prizemoney.

Australia has always had bookmakers (fixed odds) and people in Australia bet more than most other countries. The US is a different market. So to assume that the USA market is 10-20x larger than Australia, I think is over estimating the market.

BM took the USA tournament model to Australia and that didn't work - I wonder if taking the Australian Bookmaker Model to the USA will work?

Second time around BM may be successful with fixed odds, but with little soft money in NJ the professionals will be the first to cash in.

BM riding the wave of publicity that this is a once in alifetime opportunity - but in reality a market cap $250m+ and at this point a unproven concept in the US, hope this doesnt end up another BM Global Tote scenario where they fail to get approvals/traction.

Got some upside, but at 46c seems way over the odds at the moment and a lot to prove that the US market is ripe for fixed odds picking, especially after the Betfair experience.

(I do not own stock but if I did, I wish I had bought them a few months ago)

Expand

Welcome "JB Wifi"

Its a shame what BETFAIR did in New Jersey has nothing to do with fixed odds in actual New Jersey Thoroughbred races.

But nice shake of the Monkey Tree.

Dribble, Dribble, Dribble

You want a real fact " 31 states in America could take fixed odds betting right now because Federal Law gazumps State Law in those 31 states.

Smoke that pipe.

And I have to laugh when "Your main argument is that BEtfair was operating first with fixed odds but technically it isn't.

"Your Honour", as counsel for the defendant i'd like to plead "GUILTY" and also "NOT GUILTY"

Your a bit wobbly there WIFI.

35 million reasons are also sitting in the bank.

Please don't comment on a company you have no idea how it actually works or operates

Originally posted by JBInvest42: ↑

As an avid punter I have been reading with interest the buzz around Fixed Odds in USA and how this is a once in a lifetime bonanza. But I think people have short memories regarding Betfairs experience.

Betfair received exchange license in New Jersey 4 years ago in partnership with Golden Nugget Casino in Atlantic City. (I suppose technically not a fixed odd operator, but Betfair does offer the ability to bet fixed odds)

Betfair to Launch New Jersey Exchange Wagering New To US, Platform Allows Fixed-Odds, Pari-Mutuel Wagering; Launch To Coincide With Monmouth Park Summer Meet
"We are excited to be launching exchange wagering in New Jersey with our local horseracing stakeholders," said Kip Levin, CEO of Betfair US. "Our experience in the UK and other markets has proven that exchange wagering is an attractive prospect for consumers and that it can bring new customers, increased engagement and new revenue to horse racing." "We need to embrace technology for horse racing to attract new participants, new customers and new revenue streams and we are confident that exchange wagering can help us do that," said Dennis Drazin, the president of Darby Development, which manages Monmouth Park Racetrack. "We think this can be a net positive for our industry and that it can complement traditional wagering."
^{https://www.prnewswire.com/news-releases/betfair-to-launch-new-jersey-exchange-wagering-300255422.html}

I don’t think many would disagree that the result was not as great as expected.

Just because NJ issues a licence doesn’t mean all other states will follow (they didn’t with Betfair), also I understand California State Horsemens Assoc is actively lobbying against fixed odds compared to pari-mutuel because of fear of reduction in prizemoney.

Australia has always had bookmakers (fixed odds) and people in Australia bet more than most other countries. The US is a different market. So to assume that the USA market is 10-20x larger than Australia, I think is over estimating the market.

BM took the USA tournament model to Australia and that didn't work - I wonder if taking the Australian Bookmaker Model to the USA will work?

Second time around BM may be successful with fixed odds, but with little soft money in NJ the professionals will be the first to cash in.

BM riding the wave of publicity that this is a once in alifetime opportunity - but in reality a market cap $250m+ and at this point a unproven concept in the US, hope this doesnt end up another BM Global Tote scenario where they fail to get approvals/traction.

Got some upside, but at 46c seems way over the odds at the moment and a lot to prove that the US market is ripe for fixed odds picking, especially after the Betfair experience.

(I do not own stock but if I did, I wish I had bought them a few months ago)

Expand

No.	Vol.	Price($)
3	336391	13.0¢

No.

Vol.

Price($)

336391

13.0¢

Price($)	Vol.	No.
13.5¢	240893	4

Price($)

Vol.

No.

13.5¢

240893

No.	Vol.	Price($)
2	64391	0.130
2	590000	0.125
9	591015	0.120
5	275476	0.115
5	318991	0.110

No.

Vol.

Price($)

64391

0.130

590000

0.125

591015

0.120

275476

0.115

318991

0.110

Price($)	Vol.	No.
0.135	240893	4
0.140	728941	8
0.145	788124	10
0.150	2872913	14
0.155	1247818	6

Price($)

Vol.

No.

0.135

240893

0.140

728941

0.145

788124

0.150

2872913

0.155

1247818

(20min delay)
Last 13.0¢		Change 0.010(8.33%)		Mkt cap ! $125.4M

Open	High	Low	Value	Volume
12.5¢	13.5¢	12.5¢	$249.7K	1.906M


Last 13.0¢		Change 0.010 ( 4.00 %)
Open	High	Low	Volume
12.5¢	13.5¢	12.5¢	744211
Last updated 15.47pm 10/05/2024 ?

BetMakers not first with fixed ddds in USA?, page-2

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