There is absolutely no doubt about it- New Jersey rules the sports betting game. This year has seen even more sportsbooks join the burgeoning New Jersey sports gambling market as the NFL betting season arrives in full swing. As of July this year, there were a total of 19 sports betting apps in the state.
As you can imagine, there are some mainstay brands that have been dominating the betting market since it was legalized in 2018. Some of these well-known brands include FanDuel, BetMGM, DraftKings and William Hill. Even though New Jersey boasts more sportsbooks and apps than any other state, the Garden State still has not reached all allotted app capacity, which means that there is still a little more room for additional entrants in the successful and vibrant betting market.
As such, it makes perfect sense why so many sportsbooks prefer to launch in New Jersey first before they proceed to debut their services in other parts of the country. In terms of handle, New Jersey has been leading the way, with other jurisdictions doing their level best to catch up with NJ’s massive sports betting industry. Almost every other day, it appears as though there is news of a brand new sportsbook being launched in New Jersey, so much so that it has been a bit difficult for punters to keep up.
Just in the last month or so, several sportsbooks have joined the New Jersey market. At this point, the number of sportsbooks in the Garden State has climbed up to 22, with more expected to join the party before the year is up. How many sportsbooks can New Jersey handle?
According to the regulations, all of Atlantic City’s 9 casinos and 3 state owned racetracks are allowed to each have up to 3 mobile skins partners operating books. Caesars Entertainment is in charge of 3 casinos, namely Tropicana, Caesars, and Harrah’s. William Hill US, on the other hand, also enjoys partnerships with Resorts, Monmouth Park, as well as Ocean Casino.
Just recently, the William Hill brand was acquired by Caesars, which means that William Hill currently enjoys one of the largest footprints in the state. So which other sportsbooks have joined the New Jersey market in 2021?
Bet Way launched in New Jersey with a soft launch between August 9th and August 13th where it operated for limited hours just to give New Jersey punters a taste of what’s in store. It is also a popular practice for sportsbooks launching in the state to do soft launches as the brand attempts to work out any kinks of glitches before the official launch.
Sports punters that have been gambling in Nevada for years may already be familiar with the SuperBook brand as it has enjoyed a presence in Nevada for years at the Westgate. Although Nevada used to be the leading sports betting market for years before betting was legalized in New Jersey, this honor now rests with New Jersey.
Unlike Vegas, where SuperBook enjoys one of the largest retail sportsbooks in the Silver State, the brand has no intentions of launching a physical space in New Jersey. The mobile SuperBook app is what New Jersey punters have access to. The same product also lives in Colorado.
After months of anticipation, Barstool Sportsbook went live in the Garden State, making the extremely competitive online sports betting market even more competitive than it originally was. Sports lovers do not need any introduction to the Barstool sportsbook brand as it has been synonymous with sports news, entertainment, and reporting for decades now.
To entice punters to sign up, Barstool was offering a massive $1,000 risk-free first wager for first time customers. With its launch in New Jersey, the Barstool sportsbook is now available in 7 states, which means that the brand still has a chance to catch up with the big boys. In the 18 years that sportsbook has been operational, it has managed to expand its services from a mere print publication to enjoying a nationwide presence in satellite radio, as well as in sports wagering, which was facilitated by its partnership with Penn National Gaming.
PlayUp was one of the very first sportsbooks to be awarded a license at the start of January 2021. PlayUp, which supplies Horse racing, daily fantasy sports, as well as sports betting in India, New Zealand, as well as Australia expanded its footprint in North America by gaining market access into New Jersey and Colorado. PlayUp acquired market access to New Jersey punters after a partnership with Freehold Racing track.
This year, Sporttrade signed a multiyear partnership with casino operator Twin River, thus allowing the sports betting app to launch in New Jersey. The Philly-based sports wagering startup Sporttrade became the 2nd skin of Twin River- the first skin was received by PointsBet in August.
Unlike other sportsbooks, Sporttrade is offering a totally different product that makes full use of capital markets technology and market structure to the betting ecosystem. This is therefore the 1st sportsbook of its kind to offer transparent, liquid, and fair sports betting services.
In the end, Sporttrade is supplying New Jersey bettors with an innovative wagering product that is designed to considerably lower the costs that are associated with traditional sportsbooks. Sporttrade has been around since 2017.
The Garden State has a massive population of close to 9 million individuals. Last year, the state wagered more than $360 million, a growth of 28% from the previous year. This year, the growth has been incredible and this momentum will likely persist until the year comes to an end.