The post Bet365 Set to Join European Contingent In U.S. Sports Betting Market appeared first on SportsHandle.
Another major European online sports betting company, bet365, is attempting to join William Hill and Paddy Power Betfair/FanDuel in what is becoming a ferociously competitive and heavily European-influenced New Jersey sports betting marketplace.
According to a letter published on the New Jersey Division of Gaming Enforcement website, the newly opened Hard Rock in Atlantic City and bet365, with an estimated 23 million customers globally, are seeking to offer sports betting in the New Jersey resort city. The company, with headquarters in Stoke-on-Trent in England, would serve as both risk manager and betting platform provider.
The correspondence indicates two parties first signed a letter of intent back on June 19, however, neither concern has commented on the proposed deal. State officials signed off on a portion of the partnership in late June, but the temporary approval is valid only until July 31 while bet365 works to obtain its license to operate in New Jersey.
English Bookmaker Bet365 Partners With Hard Rock Atlantic City as it Looks to Enter US Market
The sports betting deal would be the first in the U.S. for bet365, however, the company is a major worldwide brand with betting lines currently posted on an impressive variety of sporting events including upcoming NFL and NCAA football games. In addition to sports betting, bet365 offers customers in legal markets, online poker, casino, games, and bingo, and video streams on sporting events.
The Hard Rock Atlantic City also launched its first online casino gambling site this week. Online sports betting in New Jersey is expected to be available at the location in the next few weeks. The earliest any casino can offer sports betting is July 11, or 30 days after Governor Phil Murphy signed the enabling legislation.
The Seminole Tribe of Florida own and operate the Hard Rock Atlantic City. There was industry speculation that because the Seminole’s owned the naming rights to the Miami Dolphins’ stadium, it might be prohibited from offering sports betting. The $250 million, 18-year contract, that started in 2016 remains confidential, but it appears any issues regarding offering sports betting in Atlantic City and online throughout New Jersey by the Hard Rock are now resolved.
The New Jersey sports betting scene
New Jersey is currently home to operating sportsbooks at Monmouth Park in Oceanport (William Hill), Ocean Resort Casino in Atlantic City (William Hill) and The Borgata in Atlantic City (MGM International).
The sportsbook operation at The Meadowlands racetrack in East Rutherford will be run by Paddy Power Betfair/FanDuel and open July 14, a day earlier than previously announced.
The Golden Nugget in Atlantic City has partnered with Churchill Downs Incorporated (CDI) to run its Atlantic City sportsbook operation. It was initially announced that it would not open until 2019, but the high the level of competition in New Jersey may force an earlier opening, industry observers note. CDI has said it will be using a platform being specially developed for them by SBTech, another European company with worldwide offices and headquarters in Bulgaria.
SBTech also revealed this week it would also provide a betting platform and risk management service to Resorts Casino Hotel, also in Atlantic City. Daily Fantasy Sports operator DraftKings has a business arrangement with Resorts, but it’s unclear exactly how this will develop in light of the SBTech announcement.
The post Bet365 Set to Join European Contingent In U.S. Sports Betting Market appeared first on SportsHandle.