888 Holdings PLC has announced the launch of 888sport New Jersey, a move which takes the company’s number of branding sites in the state to three.
Pressing the go switch on September 10, 888 now has its first legal sports betting venture in the US and will offer a full roster of gaming options in the Garden State.
The new platform is the product of 888’s relationship with software provider Kambi and will feature a selection of pre-event and live betting options.
Betting Markets Go Live in Time for NFL Season
At the time of writing, 888sport New Jersey currently offers odds on 15 different sports, including soccer, football, basketball and MMA. The launch coincides with the start of the NFL season and customers can already place money line, spread and total points bets on the league’s forthcoming matches.
As well as being a “major milestone” for 888, the launch will give New Jersey residents another way to bet online. Prior to the launch of 888sport New Jersey, William Hill, Caesars, DraftKings, Fan Duel and SugarHouse had all opened their own virtual platforms.
With six operators now live, the Garden State is leading the national sports betting charge thanks to fall of the Professional and Amateur Sports Protection Act (PASPA). While a host of new betting options is great news for customers, the knock-on effects could help also the state’s poker economy.
Sports Betting to Boost New Jersey’s Gaming Economy
According to the latest financial press release, July saw online poker revenue in New Jersey dip by 7.9 percent to $1.84 million. In tandem with that drop, the year-to-date total for New Jersey’s online poker operators had fallen to by 11 percent.
The decrease in revenue comes in spite of New Jersey’s a liquidity sharing pact with Nevada and Delaware getting underway in May. Although the initiative is still in its infancy, the current flow of traffic has seen the Garden State enjoy less of a boost that its partners.
Where liquidity has failed to generate any immediate interest, sports betting could succeed. With 888 now offering casino, poker and sports betting, its ability to move customers between verticals could prove highly lucrative.
As more operators enact their right to offer sports betting, this dynamic could be replicated across the state give the entire gaming industry a boost. Taking a broader perspective, improved fortunes for New Jersey’s operators could lead to more legal changes across the country.
At a time when money talks, any state that can show the betting industry is safe and lucrative will offer a blueprint for others. This, in turn, could spark a fresh round of regulatory talks at the start of 2019.