New Jersey to launch three new sportsbooks next month

New Jersey Sportsbooks Background

  • There is a new sportsbook operator in New Jersey after the Office of Gaming Enforcement recently approved three applications.
  • Prophet Sports Betting Exchange and Sports Trade will be the first companies to offer a ‘betting exchange’ or peer-to-peer betting service in Garden State.
  • The third new operator is Fubo Sportsbook, which is owned by TV streaming company Fubo TV.

With the US football season just around the corner, three more sportsbooks have entered the New Jersey sports betting market.

Prophet Sports Betting Exchange and Fubo entered Garden State via Harrah’s, while Sporttrade gained access to New Jersey via Bally’s. All three recently received operational approval from the New Jersey Gaming Enforcement, allowing them to launch in time for the opening of college football and his NFL season.

Betting exchange arrives in New Jersey

Late last year, the press teased the arrival of the betting exchange to the US after the Prophet Sports Betting Exchange and Sporttrade gained access to the Garden State market via Harrah’s and Bally’s respectively. The time is near.

CEO Alex Kane said in a recent interview that he is “very confident” that the Sporttrade app is in the “performance lab” and that the trading platform will be ready in time for the start of the NFL season next month. .

Meanwhile, the Prophet Exchange had already run a pre-registration campaign last year called “Exchange the Love.” No specific release date has been announced, but the official Twitter page simply states “soon.”

What makes Sporttrade and Prophet Exchange unique is that their sports betting model is called ‘Exchange Betting’ and works differently than what other sportsbooks offer. Exchange betting allows bettors to bet against each other for lower fees than traditional sportsbooks.

The third state of the windshield

Fubo Sportsbook, meanwhile, kicked off its much-needed soft launch on August 15th last year. During this period, only controlled bets are allowed from select NJ users for a specific period of time. However, if the new sportsbook passes all the technical and regulatory requirements laid down by regulators, it is also expected to go public before the NFL season begins.

Fubo Sportsbook is owned by Fubo TV, an American TV streaming service provider. With a built-in customer base that watches live sports across its network, Fubo Sportsbook offers New Jersey sports a unique option for his bettors to watch and bet on his one platform. It offers. New Jersey will be her third state in the US where Fubo Sportsbook exists. It also launched in Iowa and Arizona late last year.

In its Investor Day presentation on August 16th last year, Fubo TV revealed that it had registered 10 million new users between June 2017 and June 2022. 2022 when the soccer season is in full swing.

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