Betfair rolls out ‘first stage’ betting exchange for New Jersey

betfairToday will see Betfair US launch its first stage exchange wagering service for New Jersey in partnership with state licensed racing operator Monmouth Park.

The Paddy Power Betfair (PPB) US subsidiary will likely launch a limited market service due to the paucity of live racing events.

In April Betfair US announced that it had been granted permission to launch its exchange service, allowing for New Jersey state players to take odds by proposing or matching anonymous trades with each other via Betfair’s proprietary platform.

Exchange betting provisions have been allowed by the state of New Jersey since 2011, however, Betfair having restructured its US business partnerships gained its new licence to conduct exchange services in November 2015.

The first stage launch of the New Jersey exchange coincides with Monmouth Park announcing its new Saturday racing schedule. Monmouth’s full schedule is expected to be populated by the weekend as the Betfair exchange ups its racing inventory.

Further US racetracks on Betfair US will include Charles Town and Mountaineer in West Virginia, Louisiana Downs in Louisiana, Emerald Downs in Washington, and Woodbine outside Toronto, Canada.

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