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The start of college football and the NFL regular season is right around the corner, and with it comes the arrival of three mobile sportsbooks in New Jersey.
Prophet Sports Betting Exchange and Fubo both are partnered with Harrah’s, while Bally’s has brought aboard SportTrade. All three were given formal approval recently by the New Jersey Division of Gaming Enforcement.
Prophet and SportTrade each seek to entice customers with an exchange model, where gamblers bet not against the proverbial “house,” but with each other. That figures to mean lower costs for gamblers and few, if any, limits, as the sportsbook simply takes a small fee when a sports bettor chooses one side of a bet and then finds a willing rival who likes the other side.
Fubo launched in Iowa and in Arizona late last year, but sluggish revenue figures have led company executives to consider finding a partner for its sportsbook operations nationwide.
The new books will face fierce competition in the crowded New Jersey sports betting space.
FanDuel, which operates a brick-and-mortar sportsbook at the Meadowlands Racetrack as well as a mobile app, by all accounts is the market leader in New Jersey. Next up is DraftKings, which is a partner of Resorts and, like FanDuel, migrated its massive daily fantasy sports audience in the state over to its sports betting product quite successfully.
Other big names include BetMGM, PointsBet, BetRivers, FOX Bet, and Barstool Sportsbook. WynnBet, Betway, vie.gg, Unibet, Bet365, Tipico, SuperBook, PlayUp, and Parx also are in the sports betting game in New Jersey.
Each of Atlantic City’s nine casinos and the state’s three horse racing tracks can be affiliated with up to three sportsbooks, with Caesars, Borgata, Golden Nugget, and Hard Rock each boasting its own sportsbook.
State regulators also have announced that PlayStar has been approved as an online casino NJ app as part of a partnership with Ocean Casino, which also has added deals with GAN, Alchemy Bet, and 4 The Company.
Bally’s is adding GameSys, NYX Digital Gaming, and Big Time Gaming to its online casino roster, while Hard Rock is bringing in Onsco for online casino. And in a deal that so far has received only preliminary approval, Australian-based PlayUp has plans in the works for an online casino app with Harrah’s as its gaming partner.
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