BET365 SPORTSBOOK PROMO CODE “BETXL” & REVIEW 2021
Bet365 NJ Sportsbook is Ready to fight for market share
If you were to ask 100 gamblers “Family Feud” style to name a brand associated with online sports betting, one of the top answers would undoubtedly be Bet365.
The problem is, they aren’t in the United States. Until now.
Bet365 is expected to launch their online and mobile sportsbook in New Jersey via a partnership with Atlantic City’s Hard Rock Hotel and Casino.
Yes, they are “late” to the party, but this is no small company. Bet365 has experience in three different decades, and will certainly be a powerhouse right away within the NJ online sports betting market.
History of Bet365
Bet365 started in the United Kingdom almost 20 years ago, founded by Denise Coates, and it started in a parking lot of all places. Denise had experience with bookmaking after helping her father’s betting shops while in college.
One thing led to the next after she finished university with the equivalent of a degree in econometrics and she was able to secure a massive loan (~$18M) to grow the business and then she purchased Bet365.com.
Her first big move was to launch her family’s sports betting operation on the internet. A simple task in today’s world, but it was quite the effort 20 years ago. Bet365 currently employs more than 4,000 people, has nearly 50 million customers, and the companies most recent profits were over $800M.
Just how big is bet365? It’s customer base bet a total of $63.9 billion last year!
The Coates family is worth over $8.3B USD, of course partially from Bet365 but also from the father being chairman of the Stoke City soccer club. Denise Coates alone made over $300M last year.
Why is Bet365 Successful?
When you are in a business with many competitors, it’s all about the quality of the product. Bet365 specializes in technology, and it’s all in-house technology. They are not reliant on feeds, third-party companies, etc.
Bet365 has its’ own betting technology, giving the company the ability to control it’s outcomes and maximize it’s margins.
Also, Bet365 is fast. No one wants to wait for a website or app to load, especially in 2019. Given that it has its’ own tech, it can easily be fixed as well. Richard Smith was a consultant that worked for bet365 and was quoted in saying:
“You wouldn’t even ask if this could wait until tomorrow. Nothing could ever wait until tomorrow. If there was a customer impact from something, we fix it now. That focus and work ethic comes from the top.”
By placing customers and user experience first, Bet365 has turned itself into an online sports betting giant.
Live Betting Visionary
Would you believe that 10 years ago, in-play betting was not really seen as a big part of sports gambling?
Well, Bet365 focused on that niche, and it has turned into a massive cash cow.
Nearly 80% of their revenue today is based on in-game betting, as Bet365 provides it’s consumers, sports fans, the opportunity to bet on what they think happens while a game is happening. A common product now, but it was essentially maximized by Bet365 overa a decade ago.
Today, Bet365 focuses on sports betting, while competitors focus on online slots, table games, poker and more. That allows it to own a massive part of a large industry, online sports betting.
Bet365 is still a privately owned company, which allows it to run smoothly and efficiently without many hands in the pot or shareholder scrutiny.
Will Bet365 Compete With FanDuel in NJ?
The amazing success of Bet365 across the pond, has many sports betting insiders asking one question. Can bet365 truly compete in the legal sports betting market in the United States?
As mentioned earlier, Bet365 having their own in-house technology allows them to do many, many things without being reliant on others. An example of the opposite situation would be how DraftKings Sportsbook has to rely on Kambi for it sports betting software. Within the new world of legal sports betting in the United States, this is major win for Bet365.
Bet365’s top competition will be FanDuel Sportsbook, who has set the standard over the last year in New Jersey. Once live, it will be very interesting to see how the two compare as FanDuel NJ (and other US betting sites/apps) are quite reliant on 3rd party vendors. With that being said, aestheticism is becoming more important to the average sports bettor. Will Bet365 spend time/money on design? We shall see.
NJ Sports Betting Advertising Wars
The sportsbook wars that are coming soon to your TV, iphone, computer and radio, will require a massive advertising budget. Bet365 reportedly has over $2B in cash, and it can certainly use some of that to market itself in New Jersey (and other states, once available) in the US. We saw a few years ago how FanDuel and DraftKings were involved in DFS brand war. Bet365 could try a similar approach, and it has the money to do so.
Without a doubt, bet365 will need to be a “brand” in the United States, specifically in New Jersey. The most popular brands in online gaming in America are DraftKings and FanDuel, both of which are aesthetic, booming with personalities, and more.
Bet365 will likely need to expand itself as far as personality goes, and we know America has plenty of options in that route. Mark Cuban invested money into a sports gaming/betting company in “Action Network”, is that something that Bet365 would be interested in? Pure speculation, but it’s a great way to increase awareness of a “new” brand in an unfamiliar territory.
Will a private company be able, or willing, to do that? Only time will tell.
Should Other NJ Sportsbooks Worry?
The short answer? Yes.
The long answer is certainly, because it’s very rare for a company to have all in-house technology…and a level of experience and expertise that bet365 has enjoyed in the last 20 years.
Most others in New Jersey are reliant on other technology, or does not have the funds to allocate, or is run by too many hands to make quick decisions and act on them. New Jersey is large enough for multiple books to succeed, but Bet365 entering the space isn’t exactly something other books are thrilled about.
A good product will rise to the top if properly marketed, and the term “too big to fail” seems to apply here when it comes to Bet365.
Does Bet365 Limit Accounts?
Yes, Bet365 reserves the right to limit the size of a bet some players can make, in order to reduce the company’s risk to abusers or sharp players.
What is the Bet365 Bet Builder?
A simple parlay system, allowing you to combine many bets to create your own ticket with odds that reflect based on your selections.
What is a Cash Out at Bet365?
A cash out allows you to close your bet before a certain betting event ends. Example: If you choose to bet on Tennis, you choose a certain player to win a set at +110. Said player goes up 3-1 in that set, you can cash out early at a certain payout, taking your win and not risking a comeback. Example 2: If you choose to bet on Tennis, you choose a certain player to win a set at +110. Said player goes down 3-1 in that set, you can cash out early for a certain payout, cutting your losses but sacrificing a comeback. Bet365 has partial and full cash outs. A partial cash out is taking some out of the bet, while leaving the rest in said bet.