Sports betting in New Jersey became a reality after the landmark 2018 Supreme Court ruling striking down the national ban. In fact, the Garden State led the charge, and was the first to legalize sports betting.
However, the legalities of sports betting in New Jersey and beyond are complicated. For example, in every state, online sports betting companies such as DraftKings and FanDuel must apply for operator licenses, and the licensing requirements vary from state to state.
Moreover, after the gambling license is granted, gambling companies must partner with an existing land-based casino, which ultimately gives them the privilege to operate in a state.
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Sports Betting in New Jersey and the US
For example, DraftKings formed a partnership with Caesars Entertainment last year, giving DraftKings market access in 12 states, in addition to sports betting in New Jersey. The partnership allowed Caesars to use the DraftKings platform, “reskinning” or private labeling it with the Caesars brand.
The complex legal infrastructure for sports betting in New Jersey and across the country means that each state may have several different gambling companies competing for market share.
According to Richard Carter, CEO of SBTech, “there is no doubt both DraftKings and FanDuel will have a large market share. But each state will have a different market leader, whether it’s sports betting in New Jersey, Nevada, or Pennsylvania. But you need market access. Some states are limited to tribal gaming. Some states are lottery-only. Some states won’t allow DraftKings and FanDuel to use their brands, they need to use a casino brand. The bottom line is, there are lots of nuances. You have to consider each state as it comes.”
Recently, sports betting has gained traction in California, which is a huge potential market. MarketWatch recently reported that two California lawmakers proposed legalized sports betting as a means to help ease the state budget deficit. California’s economy has been devastated by the months-long coronavirus shutdown. Sports betting in New Jersey had contributed significantly to that state’s economy before Governor Murphy ordered land-based sports betting in New Jersey, as well as the casinos to shut down. California lags behind 22 other states that have already legalized sports betting.
FansUnite Entertainment Inc.
The FansUnite Sportsbook as well as the McBookie website provides online sports betting in the UK. Globally, FansUnite also provides technology solutions, services, and products for the gaming industry.
FansUnite is pleased to introduce our director, Saxon Shadforth, a leading gaming executive with more than 15 years of experience as an online gambling executive. Furthermore, he has than 25 years of experience in global leadership.
With a background in consumer hardware and software, commercialization, enterprise software, product strategy, and delivery, Shadforth has years of experience managing the complex ecosystems needed to scale and operate gaming brands in many jurisdictions and categories.
Shadforth has worked at Yew Tree Services in Manila, Philippines, Activo in Montevideo, Uruguay, Riplife Gaming Technologies in Barcelona, Spain, and Gateway Inc. in Denver, Colorado, and Sydney, Australia.
“We are very excited to have someone of Saxon’s calibre join our board of directors,” commented Darius Eghdami, Chairman and CEO of FansUnite Entertainment. “As a fast-growing player in the gambling sector, Mr. Shadforth is the ideal person to give us oversight in quite a few growth areas. Having spent most of his career working overseas in Asia, North America, Europe, and Latin America, Mr. Shadforth will be intrinsic to our expanding footprint. Likewise, he can help us enter international gambling jurisdictions by using his established network.”
As a gaming industry veteran, Shadforth has advised on and structured the launch of new platforms around the world, numerous mergers, and acquisitions, and has managed gaming industry teams of more than 300 people.
“I’m thrilled to join such a great team where I’ll be able to use my skills to help FansUnite build and grow their platform,” said Shadforth. “As an online gambling company, FansUnite is perfectly positioned to merge global gaming assets with a focus on mergers and acquisitions as well as brand awareness. I’m eager and look forward to providing insight and helping FansUnite become a leader in the fast-growing global gambling market.”
FansUnite anticipates Mr. Shadforth will add his expertise in many areas of the company’s operations. These include acquisition strategy, product development, and commercialization of global brands to support our continued and emerging growth as a gaming leader.
DraftKings Inc.
A leading digital sport betting and gaming company, DraftKings was created to fire up the competitive spirit of sports fans. DraftKings products cover a broad range across sports gambling, daily fantasy as well as regulated gaming.
The company recently announced the launch of its online casino in partnership with Hollywood Casino in Pennsylvania. The DraftKings Sportsbook app is very popular for sports betting in New Jersey too.
The DraftKings app also features casino games such as Roulette, Blackjack, and Three Card Poker, as well as virtual slot machines. The DraftKings online casino also features a variety of table games with seasonal holiday themes.
GAN Limited
GAN Limited supplies business-to-business internet gambling software solutions to the land-based casino industry in the US.
GAN is the developer of a proprietary internet gambling software, GameSTACK™. This software is principally licensed to US land-based casinos as a turnkey solution for managing regulated real-money online gambling. The company’s software includes internet casino games, online sports betting, and virtual simulated gaming.
GAN recently announced that the Cordish Gaming Group has contracted GAN as their enterprise software provider for their new “PlayLive!” internet gambling business in Pennsylvania. This complements the development of Live!-branded gambling installations in Pittsburgh and Philadelphia.
MGM Resorts International
Roar Digital, LLC is a joint venture between GVC Holdings and MGM Resorts International. Earlier this year, Roar Digital announced that BetMGM, a popular app for sports betting in New Jersey and beyond, is now available for legal sports betting in Indiana.
BetMGM is gaining market-access in Indiana through an agreement with Boyd Gaming. “launching BetMGM in Indiana is a big development for both Roar Digital and MGM Resorts,” observed Scott Butera, President of Interactive Gaming for MGM Resorts. “Indiana is rich in history in both amateur and professional sports, and the state has an enthusiastic fan base. We are sure that the sports betting offered by BetMGM, as well as access to MGM’s world-class resorts and entertainment, will be well-received.”
Caesars Entertainment Corporation
A little over a year after the U.S. Supreme Court’s decision to strike down the federal Professional and Amateur Act, Caesars successfully launched strategic partnerships capitalizing on the expansion of sports betting in New Jersey and across the country.
Caesars Entertainment has expanded its sports betting operations to include sportsbooks in seven states; Caesars sports betting in New Jersey, Nevada, Mississippi, Pennsylvania, Indiana, Iowa, and New York includes 29 physical sportsbook locations. Caesars also offers mobile sports betting in New Jersey, Nevada, and Pennsylvania.
As a result of the new Caesars sportsbook opening, Caesars property in Biloxi, Mississippi, had a month over month increase of 10%. Moreover, beverage sales shot up 300% due to the sportsbook.
