Fixed odds horse racing approved in New Jersey

In a process which kicked off in February 2020, today represents a monumental day for the thoroughbred racing industry in the United States as the New Jersey Governor has now signed the bill to “authorise fixed odds wagering on horse races”.

Commenting on the milestone, PlayUp CEO, Daniel Simic, said:

“We are extremely excited by the approval of fixed odds horse racing and what it will add to PlayUp’s product offering, given our imminent launch in New Jersey. Our Board member Dennis Drazin, has been instrumental in passing this legislation, and in fact, ran the pilot program for fixed odds racing at the largest race track in New Jersey, for which Dennis is the CEO.” 

“In the Australian market, fixed odds racing changed the entire dynamic by revitalising the racing industry and attracting a younger demographic. The same is expected in the USA.  Adding fixed odds horse wagering  will bolster our current New Jersey SportsBook and iGaming product lines.”

“The market opportunity in the USA is enormous and this milestone will diversify the wagering space across the USA, with other states set to follow New Jersey’s lead.” 

PlayUp is in discussions with ASX listed wagering technology provider BetMakers Limited (ASX:BET), who have a 10 year exclusive agreement to offer thoroughbred horse racing in New Jersey, and will update the market in the coming weeks.  

For further information please contact Jane Morgan at [email protected]

About PlayUp

PlayUp is a next generation entertainment and technology group that enriches the lives of its clients by providing an entertaining, rewarding, and responsible online betting service. At its core, PlayUp develops innovative betting technologies in-house to power its brands and deliver world-class user experiences. Its energies are focused on fulfilling the needs of dedicated and passionate users who seek a deeper connection to the games they play.

PlayUp’s mission is to unify online betting into one platform inclusive of Sports Betting, Fixed-Odds Racing (Horses and Greyhounds), iGaming, Esports and Daily Fantasy Sports (DFS) where it now hosts Australia’s largest and indeed some of the world’s biggest prize pools in competitive peer-to-peer online betting.

The company holds online betting licenses in multiple jurisdictions and currently operates in Australia, New Zealand, India and several regulated USA states.