July 17, 2024 – After an agreement between Darby Development, the owner of Monmouth Park, and NYRA Bets, New Jersey will no longer be a one-app state for horse betting.

According to the deal made public on Tuesday, NYRA Bets will take over as the managing vendor of the parimutuel horse betting system in New Jersey. It also opens up the market to new advanced deposit wagering (ADW) platforms. For over ten years, TVG, a division of the FanDuel Group, has been running 4NJBets, the only ADW in the state.

When asked about the new partnership, Dennis Drazinm chairman and CEO had this to say “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.”

“It’s another step in our ongoing effort to make the racing experience in New Jersey as fan-friendly as we possibly can.” Drain adds. 

Wider Variety in Horse Betting Apps on the Rise

New Jersey sportsbooks and big ADWs are anticipated to enter the market, providing Garden State horseplayers with additional online options.

Tony Allevato, President of NYRA shares “We are pleased to usher in a new era for horseplayers in New Jersey. As the sports betting market continues its rapid evolution, the expansion of NYRA Bets into New Jersey will benefit consumers by increasing competition.” 

The New Jersey Horse Racing Commission, Darby Development, and NYRA Bets, the New York Racing Association's ADW platform, must first approve the ADWs. After completing the necessary formalities, NYRA Bets will determine when the applications will go online later this year.

There are currently a number of NJ sportsbooks that offer horse betting in other states. FanDuel's sportsbook already incorporates the racing platform into their platform. During the well-liked Triple Crown betting season for horse racing, its shared wallet contributed to an increase in both users and handling. DK Horse is a racing product offered by DraftKings via a different app. It is also in the process of creating a single wallet for all of its gaming apps.