Betfair US to Open Betting Exchange in New Jersey

This story was published more than 7 years ago.

Internet betting firm Betfair US has announced that it has partnered with the Monmouth Park race track to create a betting exchange in New Jersey, the first of its kind in the Garden State.

The exchange will allow players in New Jersey to bet on the races via the internet using odds that aren't determined until the beginning of each individual race, which means that they are the same for all customers. Players can also request for better odds if they wish.

Commenting on the launch Betfair US CEO Kip Levin said, "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."

Darby Development (Monmouth's owner) President Dennis Drazin also commented, noting: "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. We think this can be a net positive for our industry and that it can complement traditional wagering."

The new service entered a beta period on April 18th and will officially launch on May 10th.

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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4 May 2016 - 10:05pm
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It's definitely a good way for the punters to receive a higher than the usual odds I think but it's also a great way for Betfair to make their brand more recognizable amongst the punters in US.