A new management vendor will take over online wagering at New Jersey’s sole full-time thoroughbred horse racing facility.

Monmouth Park stated today that the New Jersey Sports and Exposition Authority, through its agent Darby Development, has inked a deal with NYRA Bets to make the latter the managing vendor of New Jersey’s online and mobile pari-mutuel account wagering system for horse racing.

NYRA Bets is the New York Racing Association’s official advance deposit wagering (ADW) program, which is presently available in 36 states. Its ADW platform enables fans to gamble on tracks from anywhere, at any time.

“A win for New Jersey”

FanDuel has been the exclusive provider of account wagering services in the New Jersey sports betting market since 2007, as per a long-term deal.

The new partnership with NYRA Bets will allow other account-wagering operators to provide betting on Monmouth races if they obtain a third-party agreement with NYRA Bets, Monmouth, and the New Jersey Racing Commission.

“We are delighted to usher in a new era for horseplayers in New Jersey,” said Tony Allevato, president of NYRA Bets. “As the sports betting business rapidly evolves, NYRA Bets’ entrance into New Jersey will benefit customers by expanding competition.

“It’s a win for New Jersey, for horse racing and for NYRA Bets.”

During the transition, FanDuel’s 4NJBets platform will operate as an online and mobile gambling site in New Jersey “as usual without disruption of service”.

More choices, more fun

According to DRF sources, the market for ADW betting in New Jersey is over $270 million annually. In addition, New Jersey is one of the few jurisdictions that allows fixed-odds betting on horse racing.

Opening up the market to include other wagering alternatives might spur more development and expansion, something Monmouth officials are thrilled about.

“This is a win for New Jersey customers, giving them for the first time the option of which site they want to wager with,” said Dennis Drazin, chairman and CEO of Darby Development. “It’s another step in our ongoing effort to make the racing experience in New Jersey as fan-friendly as we possibly can.”

NYRA Bets will coordinate with online and mobile sportsbook operators to establish a launch date later this year.