BetMakers has inked a two-year market access and content agreement with bet365. This partnership is poised to redefine the landscape of thoroughbred horseracing betting, particularly in the vibrant markets of New Jersey and Colorado.
BetMakers’ Partnership with bet365
Expanding Horizons: The Essence of the Partnership
At the heart of this agreement lies a shared vision to enhance the betting experience for customers while unlocking the full potential of thoroughbred and harness racing content. Under the terms of the agreement, bet365 will offer fixed odds bets on thoroughbred horseracing events in New Jersey, while also distributing BetMakers’ racing content to customers in New Jersey and Colorado.
Innovative Fee Structure Driving Growth
The agreement outlines a dynamic fee structure, with bet365 paying BetMakers a market access fee based on a percentage of all fixed odds bets placed on thoroughbred racing events in New Jersey. Additionally, a content fee will be generated from fixed odds bets placed on BetMakers’ racing content in both states.
Opportunities for Expansion and Collaboration
This partnership paves the way for bet365 to explore further avenues for growth by seeking approval from BetMakers to offer fixed odds wagering on third-party global thoroughbred racing content to its New Jersey customers. This ensures that BetMakers receives the market access fee on all thoroughbred racing content in the state, fostering a collaborative and mutually beneficial relationship between the two entities.
Visionary Leadership and Industry Insight
Commenting on the partnership, Jake Henson, CEO of BetMakers, emphasized the significant opportunities that lie ahead in the US sports betting market. As the market matures, the interest from operators in horseracing as a product is expected to grow, driven by the high frequency of horseracing events and their potential for high engagement and high margin returns. BetMakers is poised to play a pivotal role in unlocking these opportunities, benefiting both the company and the broader racing industry.
Driving Innovation Through Strategic Partnerships
In April 2024, BetMakers entered into a strategic partnership with Kambi, integrating its Price Manager fixed odds platform and global racing data services into Kambi’s sportsbook. This integration is designed to elevate Kambi’s racing offerings, particularly in the UK and Ireland markets, further solidifying BetMakers’ position as an industry leader in driving innovation and growth.
Looking Towards the Future
As the sports betting landscape continues to evolve, BetMakers remains at the forefront of innovation, poised to capitalize on emerging opportunities and drive sustainable growth. With a strategic focus on partnerships, technology, and player experience, BetMakers is well-positioned to shape the future of sports betting in the US and beyond.
FAQs About BetMakers’ Partnership with bet365
1. What is the nature of the agreement between BetMakers and bet365?
BetMakers has signed a two-year market access and content agreement with bet365. Under this agreement, bet365 will offer fixed odds bets on thoroughbred horseracing in New Jersey and distribute BetMakers’ racing content to customers in New Jersey and Colorado.
2. How will BetMakers benefit financially from this partnership?
Bet365 will pay BetMakers a market access fee based on a percentage of all fixed odds bets placed on thoroughbred racing events in New Jersey. Additionally, BetMakers will receive a content fee based on fixed odds bets placed on its racing content in both New Jersey and Colorado.
3. What opportunities does this partnership create for bet365?
Bet365 has the opportunity to seek approval from BetMakers to offer fixed odds wagering on third-party global thoroughbred racing content to its New Jersey customers. This ensures that BetMakers receives the market access fee on all thoroughbred racing content in the state.
4. What is the significance of BetMakers’ partnership with bet365?
This partnership signifies BetMakers’ strategic move to expand its presence in the US sports betting market and unlock new opportunities in thoroughbred and harness racing content distribution.
5. How does BetMakers plan to leverage this partnership for growth?
BetMakers CEO, Jake Henson, believes that the US sports betting market is maturing, with increasing interest from operators in horseracing as a product. By offering high engagement and high margin returns, BetMakers aims to capitalize on this trend and drive long-term growth for the company and the racing industry.
6. What other strategic partnerships has BetMakers entered into recently?
In April 2024, BetMakers partnered with Kambi to integrate its Price Manager fixed odds platform and global racing data services into Kambi’s sportsbook. This partnership aims to enhance Kambi’s racing offerings, particularly in the UK and Ireland markets.
