888 Sport online sportsbook is now live in NJ. Visit the 888 Sportsbook for full details.
888 CEO Itai Frieberger commented:
“The launch of 888sport.com in New Jersey is a major milestone for the company in our ongoing expansion across the regulated US online gaming market and provides 888 with a unique and truly multi-product proposition in what is currently the largest regulated US state.”
Kambi is 888’s New Jersey partner
The launch is yet more good news for Kambi, the company that 888 selected as its sports betting partner in the state. Kambi is also behind both the PlaySugarHouse and DraftKings sports betting products. This means its technology is supporting three of the seven New Jersey sportsbooks announced so far.
Not that bettors are likely to notice. The front ends of each of the sportsbooks are substantially different in appearance. Additionally, it is up to the operators to choose which sports to offer at what odds.
888 sportsbook offers in-play betting
Existing 888 customers at its online poker and online casino sites will find it easy to add sports betting to their entertainment options list.
The new sportsbook shares an online wallet with the sports betting site. Resultingly, players can use the cash in their account for all three activities. Plus, 888 Sports will aggregate bonuses or VIP benefits.
At the time of writing one of the most popular bets is the LA Rams v Oakland Raiders NFL game. 888’s line on the game is Rams -235, Raiders +188.
If that doesn’t appeal, there a full set of alternatives. The MLB game between the Yankees and the Twins has a closer line at -159, +132 and once the game has started, bettors will be able to make in-play bets on a wide range of alternative outcomes.
In-play betting has become a staple of online sports betting wherever regulations permit. 888 is offering a full range of sports, almost all of which will offer in-play betting options.
888 is committed to US gambling expansion
Pennsylvania operations should be up and running by or in Q1 of 2019, so unfortunately Pennsylvanians will miss the opportunity to bet on the first half of the football season.
With a bit of luck, the support of the Pennsylvanian Gaming Control Board (PGCB) and assuming the technology can be put together quickly, Pennsylvanians should be able to place legal bets on Super Bowl LIII which is due to take place in Atlanta on Feb. 3, 2019.
Mount Airy is only allowed one sports betting skin under PGCB regs. At the moment it’s not clear if that will be 888. If it isn’t, then we can expect another partnership announcement soon, because 888 is determined to be in the PA market.
“888 has been committed to developing its position in the US since launching in Nevada, the first regulated US state, nearly six years ago and today we are the only operator with a presence in all three regulated US states. We now have our sport, casino and poker products all operational in the US and are continually developing our proposition, brands and technology to ensure that the group remains exceptionally well positioned to capture the potentially significant future growth opportunities as new regulation allows.”
What is NJ sports betting’s saturation point?
The current list of online sports betting providers in New Jersey now looks like:
- DraftKings Sportsbook
- SugarHouse Sportsbook
- FanDuel Sportsbook
- William Hill
- Caesars Sportsbook
- 888 Sportsbook
That certainly isn’t the final list. PokerStars and the Resorts casino are close to an official launch for BetStars, the Stars Group’s sports betting brand. There may well be others too, like Golden Nugget.
Lots of customer choice is good for New Jersey sports fans, but in a restricted market of fewer than 10 million people, will all the sportsbooks make money?
One thing in their favor is that New Jersey has set relatively low tax rates. New Jersey takes 12 percent of gross gaming revenue for online sports betting, more than Nevada, but only a third of the 36 percent rate that has been set in Pennsylvania.
The regulator doesn’t see market saturation as a problem. David Rebuck, director of the New Jersey Division of Gaming Enforcement (DGE) was asked by Global Gaming Business Magazine whether he was concerned that the level of competition might lead to casino closures. He replied:
“Before the Taj closed in 2015, we had an eight-casino market that was fairly stable. So with the opening of two new casinos we go to a nine-casino market, and the question is whether we can sustain that. And I don’t know.
But I will say this: I really don’t care. I hope it does. But I will say this to anyone who comes into this market. If you cannot compete in this market, you have no business running a casino. We have a very low tax rate, second only to Nevada. We have the best regulations in the country when it comes to overseeing and working with the industry—these are not oppressive and onerous and costly like many other jurisdictions.”