PointsBet Casino Officially Live In New Jersey With 17 Games And Counting

Thanks to Thursday night’s soft launch of PointsBet Casino, Bally’s is finally joining the robust NJ online casino market.

Many NJ online gamblers know all about the PointsBet brand. Who can forget those TV commercials featuring former Philadelphia 76er Allen Iverson.

However, the Australian-based company is doubling down on the Garden State market with the launch of PointsBet Casino NJ.

The product officially went live Thursday night via a land-based partnership with Bally’s Atlantic City. The official announcement came via press release.

This is the second US jurisdiction for PointsBet Casino, with Michigan being the first.

Here in NJ, the sportsbook operates under the Meadowlands Racetrack license.

PointsBet ‘thrilled’ about NJ expansion

The company is expanding its growing, proprietary wagering product suite, which also includes a fixed-odds sportsbook as well as the operator’s unique “PointsBetting” platform.

Sam Swanell, PointsBet Group CEO and managing director, said the company is “thrilled to be able to expand our iGaming presence in the United States and bring our proprietary online casino product to the robust New Jersey market.”

“The continued growth of our iGaming presence further advances our ability to acquire and retain premium clients, complementing our existing sports wagering products,” said Swanell.

More about the PointsBet Casino app

Like PointsBet’s launch in Michigan, PointsBet is taking a soft launch approach with the rollout.

The company said there are 17 games available with more to come. Just like their sportsbook, the company owns and operates the tech. This means they can constantly improve and build out the product.

By comparison, the Michigan version of the PointsBet Casino app launched with 12 slot titles, three table games, and two versions of video poker.

PointsBet said the app will be available for download on both iOS and Android devices in about a day or so.

Like with other operators, players will be able to access the casino games via a link in the sportsbook app. A shared wallet is included.

“I am proud of our iGaming team for a successful expansion into New Jersey following what has been a tremendous introduction of our proprietary online casino product in Michigan,” said Manjit Gombra Singh, PointsBet president of product and technology. “We are excited for what the future holds and welcome the opportunity to continuously improve and expand the online casino presence at PointsBet.”

PointsBet Casino launch marks a milestone for Bally’s AC

Caesars Entertainment officially turned over the keys to Bally’s Atlantic City last fall.

However, the deal did not include any existing NJ online casinos or sportsbooks. Hence the reason for the blank space next to Bally’s on the monthly DGE revenue charts.

So being the first live skin live under the Bally’s license is a big deal. At the same time, it’s going to take much more to capture a significant slice of competitive NJ online casino market share.

PointsBet is just the first piece to Bally’s NJ online casino puzzle. The Bally Bet brand, the self-branded offering from parent company Bally’s Corp., is targeted for a 2021 launch.

So is theScore Casino. Like PointsBet, the Canadian-based company has a land-based partnership with Bally’s AC.

Each license holder is permitted to have up to five online casino skins.

No word on what brands will fill the other two slots.

So for now, Bally’s plans for earning a small taste of the NJ online casino pie are on point.

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New Jersey Sports Betting Cools Down Slightly In June With $767 Million In Bets, $5 Billion Year Well Within Reach

NJ sports gamblers legally wagered $766.9 million in June while the 19 sports betting operators reported a combined $71.3 million in revenue

The New Jersey sports betting market cooled down a bit in June but the action was still plenty hot.

NJ sports gamblers legally wagered $766.9 million last month,  according to data released Friday by the state Division of Gaming Enforcement. However, it’s hard to ignore the  $71.3 million in revenue from NJ online and retail sportsbooks.

While the monthly handle dropped 5.8% from May’s $814.3 million – fifth best month all-time in NJ sports betting history – the total amount wagered is still strong for what is typically a slower month. 

Year to date, NJ bettors have wagered nearly $5 billion while total revenue exceeds $368.3 million.

And this is before the 2021 NFL betting season even kicks off. It’s pretty much a sure bet that the first $1 billion month in NJ sports betting history will take place this fall.

Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayNJ.com says overall New Jersey continues to perform far better than every other sports betting market in the U.S.” 

 “No market can completely overcome a lack of betting inventory, but New Jersey’s sportsbooks continue to find ways to capitalize on what the sports world is offering, most notably the NBA Playoffs and baseball,” said Gouker. 

Online, mobile still rule New Jersey sports betting

New Jersey sports betting continues to be dominated by online sportsbooks. NJ’s 19 online/mobile options consistently outperform retail sportsbooks at Atlantic City casinos and NJ’s three licensed racetracks.

Based on the NJDGE figures, $683 million (89.1%) of the monthly handle were bets placed online or via mobile sports betting app. More than $62 million (87.2%) of New Jersey sports betting revenue came from online or mobile apps.

The online partners of the Meadowlands Racetrack, which includes FanDuel Sportsbook and PointsBet, generated more than $44.5 million in June. That’s more than the $24.1 million generated by all nine Atlantic City casinos combined.

Meanwhile, Resorts Digital, which includes DraftKings Sportsbook, reported nearly $13 million to finish a very distant second.

Borgata rounds out the top three with just shy of $6.85 million in sports betting revenue. This is a combination of the BetMGM and the Borgata Sports apps.

New Jersey sports betting is…unpredictable

June’s results are on par with expectations. Sports betting numbers typically start trending down after March Madness until football starts in September.

But, New Jersey sports betting has been defying the odds as of late. Even April’s $750 million handle was more than double Nevada’s average for the month.

Sports, sports, and more sports in June

Several factors likely bolstered June’s New Jersey sports betting figures.

For one, two of the three regional pro basketball teams played in intriguing playoff matchups. Ultimately, the Philadelphia 76ers and Brooklyn Nets were both bounced in the second round.

The NHL Playoffs also ran through June, providing another bump for sportsbooks.

Likewise, the UEFA Euro 2020, the U.S Open golf tournament, and two tennis majors gave gamblers even more options in June.

And finally, Major League Baseball is in full swing. With two of the three regional teams underperforming, futures bettors have likely been looking for value elsewhere.

“While the sportsbooks in most states have been scouring the sports landscape for opportunities to drive interest, New Jersey’s books have successfully capitalized on the NBA playoffs and baseball,” said Eric Ramsey, analyst for PlayNJ.com.

AP Photo/Laurence Kesterson

Will OpenSports Open Up The New Jersey Sports Betting Market For Golden Nugget?

Golden Nugget sportsbook is trying to get a bigger share of the New Jersey market by adding OpenSports to its platform.

Golden Nugget’s online casino is regularly the market leader in New Jersey in that category. The company hopes to achieve similar success with Golden Nugget Sportsbook with the integration of OpenSports.

The technology platform from Scientific Games is already in use by several operators in multiple markets. Will it alone mean a bigger market share in NJ for Golden Nugget, though?

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The Golden Nugget sportsbook revamp

You could look at the new collaboration between Golden Nugget and Scientific Games in NJ as the former making its sports betting experience in multiple markets more uniform. Earlier this year, Golden Nugget’s sports betting product with OpenSports intact went live in Michigan.

Perhaps the most important part of this news for NJ gamblers is that iOS device users will have access to all the Golden Nugget Online Gaming (GNOG) products in one app. A press release from Scientific Games did not mention whether the same was forthcoming for Android devices.

What’s so special about OpenSports?

Well, that depends on where you sit. Scientific Games touts its features like a custom bet builder, daily enhanced odds, and same-game parlays. GNOG is high on the solution.

“Scientific Games’ OpenSports platform has a well-deserved reputation for being robust and scalable and our initial experience in Michigan, amid a very busy sporting period, has been positive,” said Thomas Winter, GNOG President.

However, several of GNOG’s competitors in NJ also offer those components in their sportsbooks. The move to OpenSports may represent a superior product as compared to what GNOG formerly had available for NJ bettors. It still has some work to do if it wants to become the dominant operator in this segment of the market, though.

Marketing just as crucial as technology

When it comes to sports betting revenue in NJ, GNOG is more of a pretender than a contender. For example, in February, it reported a loss of just over $37,000 in February 2021. BetAmerica Sportsbook also operates under the license, but the state Division of Gaming Enforcement does not break the results by operators.

In the same month, sportsbook market leader Meadowlands Racetrack –  the licensee for both FanDuel Sportsbook and PointsBet Sportsbook in NJ – reported $24.9 million in online revenue.

One crucial difference is the marketing spend for FanDuel and PointsBet. Both brands not only buy advertising time during live sporting events but also continue to add to their celebrity endorser ranks. Recently, PointsBet contracted with Paige Spiranac while FanDuel reeled in Dr DisRespect.

To increase its market share in sports betting, GNOG may have to spend as many resources on getting its name on NJ bettors’ minds. OpenSports has proven it is a viable platform in other markets. During the Cheltenham Festival in the United Kingdom last week, for example, pari-mutuel wagers on European racebooks were up 53% year-over-year.

GNOG’s NJ sportsbook is only as strong as its brand awareness, though. To maximize the benefits of OpenSports, GNOG may still have to open up its wallet to educate gamblers in the state about the sportsbook revamp.

Otherwise, it’s possible that few NJ bettors will even be aware of the new options.

AP Photo/Wayne Parry

Has PointsBet Found The Solution To In-Game Betting’s Technology Issues?

The market for in-game wagering in the US has latency issues. Could the recent acquisition of Banach Technology by PointsBet be a solution?

Anyone who has experienced sports betting in Europe knows that the market in the United States of America seriously lags behind in one key dynamic: the quality of live wagering. With the announced acquisition of Banach Technology, PointsBet Sportsbook thinks it may have found a solution.

The tech company’s systems aim to make in-game betting in the US a better product. The proof will be in the betting, though.

PointsBet buys Banach Technology

On Monday, PointsBet announced the transaction. A press release touted the move as a way to accelerate the Australian gambling company’s technology. It could also put PointsBet in a position to be a leader as the live betting industry grows.

“As legalization to approve sport betting accelerates across the US, it has become clear that the in-play opportunity will be very significant, and those with the best depth and breadth of product will win,” said PointsBet Group CEO and Managing Director Sam Swanell in the same release. “Technology is at the forefront of everything we do at PointsBet, and we have undertaken an in-house approach to proprietary technology as the key priority. In Banach, PointsBet has found a like-minded team of technologists, and the acquisition is a preferable approach to developing our in-play capabilities organically, given it allows us to dramatically ramp up our speed to market while still allowing us to own market-leading technology and continue to control our destiny.”

As Swanell referred to, technology is the key to growth here. It’s also a bigger problem than just PointsBet’s systems.

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Latency, side-lining, and stadium hardware

Legality isn’t the biggest issue for sportsbooks in the US when it comes to live wagering. Most jurisdictions have few restrictions on that type of betting, often only covering using official data providers.

The bigger issue is the quality of the product. Sidelining is a serious problem in the US when it comes to in-game wagering.

That is the advantage that people who are physically at sporting events have in live betting markets as compared to people who are elsewhere during the events. Because the in-person spectators are watching the event in real-time, they have access to information before other bettors do.

That isn’t the sum total of the issue, however. There is also a latency problem in terms of the time it takes sportsbooks to process live event data.

That often leads to sportsbooks like PointsBet freezing markets, to allow time for their systems to catch up. That, in turn, can result in bettors not being able to place their bets at the time and with the odds they want.

That’s what PointsBet aims to solve with its acquisition of Banach.

Even if it can drastically reduce the lag in processing time, that may not address the issue of sidelining. That will require the intervention of data providers, stadium owners, and other parties to improve the technology at the sites of these events.

Someday, that may happen. PointsBet can only control the quality of its platform. The Banach Technology acquisition may make it the best in the country for live betting.

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New Jersey Sportsbooks Suffer (A Little) February Chill With $743 Million In Bets

New Jersey sportsbooks took nearly $743 million in February NJ sports betting handle and reported more than $46 million in revenue.

New Jersey sportsbooks took nearly $743 million in wagers in February and reported more than $46 million in revenue.

Both numbers are significantly higher than those from February 2020 (the last full month before pro and college sports shut down), according to data released Tuesday by the state Division of Gaming Enforcement.

Anchored by $117.4 million in Super Bowl 55 bets, February 2021’s monthly sports betting handle was $248.14 million more than during the same month last year.

And that’s with February 2020 having an extra day because of a Leap Year.

As a result, Garden State sportsbooks reported a year-over-year revenue increase of nearly 244%.

However, February’s total sports betting handle was a drop of nearly $215 million from January’s $958.7 million.

The dip from January is expected. In every year in which New Jersey has offered legal sports betting, February has generated less in total wagers than in January.

Last month’s handle was the state’s lowest total since August.
In December, NJ set a U.S. record with a monthly sports betting handle of $996.3 million.

Online & mobile carries New Jersey sportsbooks, again

Online sports betting accounted for $689.25 million, or nearly 93%, of February’s total handle. That figure is $252.8 million more than the amount online sports gamblers shelled out in February 2020.

The Meadowlands Racetrack (FanDuel Sportsbook/PointsBet NJ) topped the online market again with $24.9 million in gross revenue, down from $41.8 million in January. The license holder reported $27.1 million for the month.

Resorts Digital, led by DraftKings Sportsbook, finished an extremely distant second with $7.7 million, the bulk of which is from online wagering.

“FanDuel and DraftKings have dominated the market since launch, and there really hasn’t been a major change in that dynamic since 2018,” said Dustin Gouker, lead analyst for PlayNJ.com. “BetMGM is making end roads in other states, including Michigan, but it will take a lot for it to significantly eat into the New Jersey market share of the nation’s two largest operators.”

Retail’s struggles getting lost in the shuffle

Conversely, NJ’s retail sportsbooks took less action in February 2021 compared to last year, even with two additional locations. Last month, NJ’s 12 brick-and-mortar sportsbooks reported a total handle of $53.7 million. In February 2020, with just 10 retail shops, New Jersey sportsbooks handled $58.3 million.

A Parx-branded Sportsbook at Freehold Raceway opened in September 2020, but has yet to drum up much business.

A temporary FanDuel Sportsbook opened at Bally’s Atlantic City in December. Bally’s and FanDuel opened the permanent location this week, just in time for March Madness.

New Jersey sportsbooks ready to celebrate  March Madness

The good news for NJ sportsbooks is that Garden State gamblers love basketball betting. Only football garners more bets in NJ than basketball, according to DGE data.

That means a potential $1 billion monthly sports betting handle is not out of the question.  March Madness betting will be leading the way.

“March Madness is the largest sports betting holiday of the year, and in New Jersey, basketball, in general, tends to draw a lot of action,” said PlayNJ.com analyst Eric Ramsey. “In other words, it’s possible New Jersey could become the nation’s first state to generate more than $1 billion in sports bets in a single month.”

AP Photo/Ashley Landis

 

 

 

Paige Spiranac Links Up With PointsBet For Content And Investment

Paige Spiranac, one of the golf world’s most well-known celebrities, has partnered with PointsBet for content creation and investment.

How do you get millions of new eyes on your product as a gambling company? That’s a question that PointsBet has recently tried to answer in a new partnership with Paige Spiranac.

The former LPGA tour contender and social media maven has signed on with the Australian gaming company to create new content and for investment purposes. The prospect becomes intriguing considering another project of PointsBet’s.

The details of the Paige Spiranac deal with PointsBet

According to a press release, part of Spiranac’s compensation will be an undisclosed amount of shares in PointsBet. Her face will become central to the brand going forward.

“Today is a very exciting day for the company as we welcome Paige, the No. 1 most followed and interacted with golf personality on social media in the world, into the PointsBet family,” said Johnny Aitken, US CEO of PointsBet.

PointsBet says that Spiranac will both appear in and help create original content for the sportsbook. That will include sports commentary, bettor education, and hosting events.

Plus, the PointsBet NJ sports betting app features a promo with Paige’s daily game.

No one can match Spiranac’s following in the golf world. She counts over 8 million followers over her social channels and had over 100 million views of her YouTube content just last year.

“I believe that sports betting is central to how fans will engage and consume live sports moving forward,” said Paige Spiranac. “I love connecting with my community on social media and I know this category will be a fun, new way to get my audience more involved with not only golf but all sports. I truly believe in what we’re building at PointsBet and I’m thrilled to be a part of this team.”

The partnership makes sense for both parties. There’s an especially intriguing opportunity just on the horizon.

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BetCast and PointsBet’s own following

Earlier this month, NBC-Universal announced some major restructuring of its sports content. It will shutter the NBC Sports Network, shifting a lot of the sports programming to USA or its streaming platform, Peacock.

As part of the Peacock shift, a new second-screen experience involving PointsBet is BetCast. It’s essentially a sports-betting-centric analysis and commentary companion show.

Quite conveniently for Spiranac, Betcast will be focused on golf for the time being. PointsBet hasn’t announced any plans to include Spiranac in that show at this time.

However, the timing of these two developments points in that direction. PointsBet would be hard-pressed to present anyone that golf bettors would be more familiar with.

For Spiranac, this helps her expand her reach even further. Not all people who bet on golf are avid fans of the sport. Her inclusion in gambling content can aid the expansion of her audience.

Additionally, her stock holdings give her a tangible interest in the success of PointsBet. So far, Spiranac has done nothing but hit the greens in all her other endeavors.

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