Online sports betting is live in New Jersey, with players having access to wagering now and hopefully even more options in the future.
Sports betting is in full swing in New Jersey, with players first having access to land based options at physical sportsbooks then in online form. Just recently, DraftKings launched their sportsbook, which offers players the ability to place wagers online. After signing a sports betting bill into law on June 11th, Governor Phil Murphy signaled that wagering was a-go, and after 30 days, online wagering could begin as well. However, the actual rolling of online sports betting has been slow going.
In New Jersey, both racetracks and casinos are allowed to offer online sports betting. One venue can have as many as three partnerships each for online gaming. There must be a physical sportbook in place first then online gaming can occur. Currently, six gaming venues in the state have a physical book in play.
Partners of land-based venues must also have a supplier license from the state’s Division of Gaming Enforcement. This can take some time and is most likely the reason behind the slow start to online betting.
So far, only one operator has been able to meet all the requirements and get started offering betting, Resorts AC in partnership with DraftKings.
The Online Sportsbook
Resorts AC has already signed several partnerships for sports betting in New Jersey, including one with DraftKings. Known for daily fantasy sports, DraftKings has decided to become involved in sports betting now that it is fully legalized in the US. A smart move as the brand already has an established player base. The partnership has resulted in an online sports betting site and application that can be accessed by individuals located in the state of New Jersey.
DraftKings soft launched their sports betting application last week and on Monday, the full launch was announced. The app as well as the browser-based option are functioning at full capacity, with players having access to a nice variety of betting options such as in-play.
Additional partnerships for Resorts Atlantic City include a new one with The Stars Group and SBTech. Resorts has decided to expand their existing relationship with The Stars Group to focus on sports betting by using the BetStars brand. With SBTech, Resorts will be provided land-based and online/mobile bookmaking services.
Racetracks Working on Services
Both Monmouth Park and Meadowlands Racetrack offer sports betting and were among the first to do so in the state. Both offer land-based services and are expected to get in on the online action as well. Monmouth Park began offering sports betting on June 14th and are currently partnered with William Hill. A date for online gaming to launch at the venue has yet to be revealed but it is expected to take place as soon as possible.
For the Meadowlands, the property is prime for sports betting. Located near the MetLife Stadium, the venue plans on working with the home of the New York Giants and Jets to bring in sports bettors. The racetrack has a partnership with Paddy Poker Betfair, a company that recently acquired FanDuel. So, the sports book at the track is titled the FanDuel Sportsbook at the Meadowlands Racetrack. The book opened on July 14th and has already seen great success.
Casinos that have yet to jump into the ring, like the Golden Nugget, are supposedly going to do so in the near future. Sports betting has already done quite well in the state just for the few weeks it has been available. By the end of the year, we should have a clearer picture of what will be offered in the state and how it will affect the bottom line of the gaming market.