Exchange wagering, the fixed-odds variant of pari-mutuel betting, became available to play in the United States for the first time earlier this week after a New Jersey racetrack launched its on-site operation in conjunction with Betfair US.
Monmouth Park will offer the gaming variation on all of the races at its racetrack as well as 10 other racetracks around the country via simulcast. The intention is to increase the number of racetracks partners as interest grows.
One popular belief in the industry is that young people will find exchange betting more appealing than traditional gambling, especially on horses. If the faster platform and increased decision-making abilities could attract the Millennial market it could have a significant impact on day-to-day sports betting in the States.
New Jersey regulated exchange wagering in 2011, the state’s racing commission did not issue its first licence until November 2015. California legalised exchange wagering in 2010, but has yet to award any licences despite Betfair US’ persistent attempts.