In the last few months, the New Jersey online sports betting industry has continued to pick up steam.
This has seen it remain on an upward trajectory that has brought much promise to what lies ahead. It will now feature NJ online sportsbooks expanding their reach ahead of the 2019 NFL regular season. It is now estimated that at least 20 sportsbooks will be available online by September.
This notion was confirmed by David Rebuck, who is the director of the New Jersey Division of Gaming Enforcement, stating as much last week while speaking at the Betting on Sports America Conference at the Meadowlands.
BET365 NJ & UNIBET SPORTSBOOKS READY?
Rebuck did state there will be a bigger field of NJ sportsbooks ahead of the 2019 NFL season, but there was no specification on who it would emerge on the scene in that regard.
One of the early indications could be a couple of companies that have recently announced partnerships. This includes Bet365 and Unibet Sportsbook each taking up land-based partnerships with Hard Rock Casino in Atlantic City. Both look to be operating by the end of the summer.
Along with that, there has been a clear indication that TheScore online sportsbook and mobile app will be ready for the NFL season. TheScore had a GIANT ADVERTISEMENT at the Betting on Sports America Conference last week. TheScore has a partnership currently in place with Monmouth Park to operate a sportsbook.
— Bet New Jersey (@BetNewJersey) April 23, 2019
Meanwhile, there is pending regulatory approval for CG Technology working with Meadowlands Racetrack and rumors of Wynn Casino entering NJ as well. The competition to gain market share from leaders FanDuel Sportsbook and DraftKings Sportsbook will be a very tough road for new books.
OTHER POSSIBLE SPORTSBOOKS IN NJ
This still leaves a couple of open spots in order for the state of New Jersey to reach 20 online sportsbooks.
There are a few candidates for those positions such as the Wynn Resorts, who are currently in the process of working their way into the New Jersey online sports betting scene. Two others that may jump into the mix could be Penn National and Greenwood Gaming (Parx Sportsbook owner) who currently operate PA Sportsbooks.
It may just be speculation at this point in time, but it does add more fuel to fire that there will indeed be quite the expansion in NJ online sports betting by September.
NJ MOBILE SPORTS BETTING ON THE RISE
Beyond just the online sports betting scene expected to see an increase of operators, it’s just further indication that the mobile aspect of it will be a major benefactor from this movement.
NJ currently has 10 retail sportsbooks around the state with eight alone at Atlantic City casinos. Keep in mind, there was a huge boost in March due to the NCAA tournament that generated record revenue of $31.7 million. The total NJ Sports Betting Handle since legal sports betting began in June 2018 has reached $2.32 BILLION! The YTD 2019 sports betting handle is now over $1 Billion and on pace surpass $4 Billion!
New Jersey saw a record sports betting handle for March 2019 with $372,451,342. This represented a +16.3% increase from February. $298,282,154 of the overall March betting handle came from online/mobile sports betting. This is the third straight month where the online sports betting handle represented at least 80% of the overall action in NJ.
Ultimately, all of this brings more of a push toward making Rebuck’s comments a reality before the 2019 NFL season in the coming months ahead.
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