There is something slightly different regarding NJ sports betting.
For those who haven’t noticed it, the Garden State now has 19 sports betting apps, as Tipico Sportsbook is in its soft-launch period.
Do we hear 20 NJ sportsbook apps?
The scenario is certainly a realistic possibility for 2020.
Tipico, operating via a land-based partnership with Ocean Casino Resort, started its soft launch as mandated by the New Jersey Division of Gaming Enforcement (DGE) last week. The full launch is expected soon.
And it seems Tipico is excited about having skin in the game.
— Tipico Sportsbook (@tipico) October 19, 2020
Tipico a late arrival to NJ sports betting
Since launching in August 2018, the NJ mobile sports betting market has expanded at a rapid rate. A total of nine apps launched during those first five months. The options have more than doubled in size, with some rebranding along the way.
But 2020 as a whole has been relatively quiet in terms of new apps. Wynn Sports is the only other newcomer following its early August launch.
Meanwhile, market leaders FanDuel Sportsbook and DraftKings Sportsbook are in their third season of NFL betting. Looking at September NJ sports betting revenue, the two brands are clearly leading the pack.
Meadowlands Racetrack (FanDuel and PointsBet NJ) claimed a 63% market share. Resorts Digital (DraftKings, Fox Bet and Resorts) finished an extremely distant second with a 12% slice of the pie.
Ocean Casino, on the other hand, and its partner William Hill, came in at a tad below 6%.
Gaining traction this late in the game and eight weeks into the NFL season presents its share of challenges.
At the same time, launching in New Jersey makes perfect sense for any mobile operator looking to get a piece of US legal sports betting.
For one, it’s hard to ignore the $750 million in bets that NJ reported for September. This is the highest total ever reported by a US jurisdiction, Nevada included. And 90% of those wagers came via NJ sportsbook apps.
After Tipico received DGE approval last month, Adrian Vella, managing director, US business, commented on why New Jersey makes sense.
“At Tipico, we knew that New Jersey would be the perfect state for us to kick-start our business in the US because of its sophisticated mobile sports betting audience and mature regulatory and licensing environment,” said Vella.
“With an incredible pool of local talent in the New York metro area, we’re thrilled to establish our headquarters in Hoboken and continue expanding our team. We’ve dedicated significant time and energy to build a long-term foundation for the US market, and today marks an important milestone in that journey for Tipico.”
Who in the world is Tipico Sportsbook?
The key to the Tipico team is introducing its brand to New Jersey customers.
Bettors who are doing NFL odds shopping may not take Tipico into consideration, since it’s an unknown entity.
European-based Tipico, which was founded in 2004, is Germany’s leading sports betting provider. So it’s no surprise that the operator is offering Bundesliga (the top German soccer league) odds.
Here is a list of the American sports available via the app:
- NCAA Football
Judging by the Tipico Twitter feed, the operator is trying to introduce itself to NFL bettors.
— Tipico Sportsbook (@tipico) October 23, 2020
Closing in on 20 NJ sportsbook apps
Tipico is the newest app to the NJ market, but more are coming.
Each license holder can have up to three online skins. And in the case of Ocean, there is room for one more.
Then there is Freehold Raceway, which launched its business in September. There is no doubt mobile apps will be launching under its license in the very near future. This is the most likely path for Barstool Sportsbook’s NJ launch.
And once Twin River Worldwide Holdings completes the purchase of Bally’s AC, expect to see three more apps there.
So having 20 NJ sportsbook apps by the end of 2020 is now considered what bettors refer to as a “lock.”
Setting the over/under line for NJ sportsbook apps at 25 suddenly looks like a realistic possibility for 2021.
PHOTO BY ASSOCIATED PRESS