New Jersey will soon no longer be a one-app state for horse betting following a deal between Darby Development, which operates Monmouth Park, and NYRA Bets.
The agreement announced Tuesday will see NYRA Bets become the managing vendor of New Jersey’s parimutuel horse betting system. It also allows other advanced deposit wagering (ADW) platforms to enter the market. TVG, part of the FanDuel Group, has operated 4NJBets, the sole ADW in the state, for more than a decade.
“This is a win for the patrons in New Jersey, allowing them to have choices for the first time as to which site they prefer to wager with,” Dennis Drazin, chairman and CEO of Darby Development, said in the release. “It’s another step in our ongoing effort to make the racing experience in New Jersey as fan-friendly as we possibly can.”
More horse betting apps coming
Several major ADWs and sportsbooks are expected to enter the New Jersey market, giving Garden State horseplayers more online options.
“We are pleased to usher in a new era for horseplayers in New Jersey,” Tony Allevato, President of NYRA Bets, said. “As the sports betting market continues its rapid evolution, the expansion of NYRA Bets into New Jersey will benefit consumers by increasing competition.”
NYRA Bets, the New York Racing Association‘s ADW platform, along with Darby Development and the New Jersey Horse Racing Commission, must approve the ADWs first. Following that procedural step, NYRA Bets will set a go-live date for the apps later this year.
Sportsbooks eye opportunity
Several NJ sportsbooks already have horse betting capabilities in other states.
FanDuel’s racing platform is already baked into its sportsbook. Its shared wallet helped boost the number of users and handle during horse racing’s popular Triple Crown betting season.
DraftKings offers its racing product, DK Horse, through a separate app. It, too, is working on developing a singular wallet across its gaming apps.
Horse betting partnerships
Bet365 recently partnered with 1/ST Technology to offer its customers a US-based horse betting platform.
Caesars Sportsbook and BetMGM also have partnerships with NYRA, which could make for an easy transition into New Jersey.
