Getting a gambling license to do business in New Jersey takes time, no wonder many brands are opting to get into collaborations with already licensed operators. For the management of PlayUp, the wait has definitely been worth it because they finally get to hold their approval notice in their hands. The New Jersey Division of Gaming Enforcement finally cleared this operator to conduct legal gambling within the state.
PlayUp has been quite active in its quest to expand into various markets around the United States but licensing has been one of the most valid huddles. With the New Jersey operating license issued, the company can now check off the Garden State from its list of prospective jurisdictions. Like most companies that are eager to create a mammoth gambling operation in the United States, PlayUp was looking forward to finding an entry into the New Jersey betting market.
New Jersey is where the gambling action takes place outside the traditional Las Vegas. Actually, New Jersey has proven to be quite vibrant as a betting destination because it caters to a fast-changing gambling clientele. A lot of advancement is taking place in the online gambling scene and the only way to keep up is to get immersed into where the real action is; New Jersey.
Good governance is a great factor in shaping the landscape of the gambling scene in New Jersey; Governor Phil Murphy thinks that gambling is much more than putting money on the line and he rallies the entire state assembly behind the motion that has today turned into a significant revenue earner for the state government.
Colorado had also been on the checklist of United States jurisdictions where PlayUp was interested in doing business – that was however cleared in March when the Colorado license was granted. It has therefore been a 7-months-long wait before New Jersey finally opened its doors to the offers that PlayUp is bringing.
Even before an official license had been issued to allow PlayUp to conduct gambling business in NJ, the operator had already started to prepare the market. In a bold move whose only backing at the time would be faith, PlayUp had announced that it would be signing a deal with the resident state team, the New Jersey Devils at the beginning of the just concluded season. By working alongside the state team, PlayUp was deliberately positioning its operations for much more attention from the industry enthusiasts.
An alliance with a sports team obviously makes a betting brand visible but not as much as being able to interact directly to the fans. As a sports betting operator who is now certified to run a legal gambling operation in the state of NJ, PlayUp is free to target customers in its campaigns and promotional material.
Speaking after the approval license had been handed over to the company, the CEO of PlayUp USA, Dr Laila Mintas, elaborated on what the move meant to the business at large. Terming it as a huge milestone in the operation of the business, the CEO painted a picture of a roadblock being removed from the road to the operator’s growth.
According to Mintas, New Jersey is a great casino business hub for any gambling operator who is eager to establish a vibrant brand within a short period of time. It is not easy especially because of the nature of competition present and yet it is this busy environment that pushes a brand to grow beyond its wildest imagination.
Getting an opportunity to showcase what they offer in a market that is more than willing to try out new products, the management of PlayUp is optimistic that this full operational license will help realize their corporate goals. For a bettor operator that is aiming at conquering the market, operating in NJ not only means working side by side with big industry players but also tapping into massive revenues.
Mintas further reveals that the gambling operator has so far received immense support from its customers and partners in the US. Right now, the licensing huddle is out of the way so the next move is to work hard to achieve set goals. Looking at the aggressive growth plans that the brand had already drawn for 2022, there is no doubt that jumping into the murky waters in NJ is going to bear positive fruit.
Two months ago in August, reports indicated that the state of New Jersey had managed to achieve $664m from wagering income. Out of the total figure, approximately $613m was as a result of online gambling. Without these figures, the entire performance of New Jersey would not have hit the $6.13bn mark, which was in excess of what was achieved the previous year.
Mintas is optimistic that PlayUp will be receiving regulatory approval from NJ gambling industry regulators in the near future and that will facilitate the adoption of an iGaming product offering in the market. The company is confident about the popularity of horseracing for the residents of New Jersey and that is why horse racing fixed-odds are among its offerings.
According to Dennis Drazin who is a horseracing industry mogul, there is every reason to invest in horse racing gambling data because the future as far as fixed-odds wagering is quite promising. Betting operators who hope to survive the future must be ready to offer odds for different types of games on a 24/7 basis. Nobody thinks much about horse racing but it is a unique avenue that betting operators can leverage on to command a global audience.
Final Thoughts
PlayUp is among hundreds of betting companies who are on stand-by to grab as much influence as they can from the gambling industry landscape. As the gambling market in the US grows, so will the number of states that prospective investors need to seek licenses for. The management of PlayUp has on many occasions revealed that they have an interest in the fixed-odds wagering market in New Jersey and the rest of the United States.
