Sports betting operators are landing in New Jersey, turning the market into one of the most profitable in the US.
US.- New Jersey could become the biggest gaming market in the US, surpassing Las Vegas, as the government is negotiating with international sports betting operators to grant over 20 gaming licences by 2021.
“The market by the end of the NFL season will dwarf the market as it stands today,” Chris Grove, head of sports and emerging verticals at Eilers & Krejcik, told the local newspaper iGamingBusiness.com. “You’ll have at least double the number of online operators, near-permanent retail sportsbooks at most properties, and an industry-wide marketing machine fully engaged.”
Earlier this month, William Hill and FanDuel officially launched their mobile sports betting operations in New Jersey. Furthermore, DraftKings, MGM Resorts and Rush Street/SugarHouse all offering mobile sportsbooks since last week, being able to offer the first sports betting services during this week’s game between Philadelphia Eagles and Atlanta Falcons.
“The two things we’re watching for: First, who snaps up partnerships with the remaining regional casino powers. Those deals will go a long way to determining the eventual shape of the market,” Grove said. “Second, what states move forward with bills and what kinds of decisions do they make on issues like tax rate and ceding control or revenue to the leagues.”