Betfair US set to launch exchange betting in the Garden State

Betfair US is set to sign a five-year deal with Monmouth Park track in New Jersey in order to offer online horse racing exchange betting to players in the Garden State.

The New Jersey Racing Commission has given exchange wagering the green light, but legislation has yet to be sent to the state’s attorney for review followed by a period of public commentary. Once final regulatory measures are resolved, Monmouth Park will become the first american track to offer exchange wagering in the country. “We are hopeful that we can offer exchange wagering in New Jersey at some point in the future but can’t predict the timing of regulatory processes,” told James Midmer, spokesman for Betfair US, to eGaming Review. Last year Betfair, through its subsidiary TVG, won the contract to run the platform for New Jersey’s customer-facing online horserace betting site 4NJBets.com. Betfair US has already signed an agreement with the Trump Plaza to launch real-money gaming in New Jersey. Figures released by the state regulator revealed it had generated gross gaming revenues of $401,971 in its first month.

Source : eGR Magazine