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The DraftKings Sportsbook is now live in New Jersey.
September was an incredible month in the state of New Jersey when it comes to sports betting revenue. The start of the 2018 NFL season enthused bettors all across the area to place legal sports bets at a high rate in both retail sportsbooks and online.
One book that stood out among all the others in regards to online action was the SugarHouse Online Sportsbook & Casino.
After debuting its new sportsbook in August, SugarHouse more than doubled revenue over its first two months. In total, it brought in just over $1.1 million, with more than $600,000 coming from strictly digital online bets.
Of the money wagered on SugarHouse Online, more than 80 percent of it was gambled through mobile devices.
It’s all about timing
Between the simplicity of betting right on your phone with a user-friendly app and the beginning of football, SugarHouse and other New Jersey sportsbooks are excited about what the near future may hold.
“We’re very happy with the numbers we are seeing,” said Mattias Stetz, chief operating officer of Rush Street Interactive, which operates SugarHouse Online Sportsbook & Casino. “We see that the player base is continuing to grow as the word spreads about the quality and volume of the different live in-game bets at PlaySugarHouse.com. We are at the start of the football season and are excited to see our numbers keep climbing.”
SugarHouse Online finished third in total revenue for online bets in the state with $619,000. This figure was enough to top the online sportsbooks at William Hill, playMGM and Caesars Online.
It trailed only FanDuel with $2,852,500 and DraftKings with $8,505,900.
Separating itself from the field
Part of what has separated SugarHouse from other new books is innovative additions to what most might consider a “normal bet.” Besides betting whether the game total will hit the over or if a team will cover a spread, fans now have access to a large number of live, in-game wagers.
There are now at least 50 different options to bet during any football game. Some of these include how well an individual player might do in terms of yards, receptions or touchdowns. Others can be as specific as the exact outcome of the current drive.
These types of bets are great because of the thrill and curiosity they can create in a game one might not have much interest in. By placing an in-game wager, fans can quickly get paid off from a single possession lasting just a few minutes, or even seconds.
The revenue generated from these creative wagers should only continue to expand as people become more aware of all the various choices at their disposal.
SugarHouse is user-friendly
Another bonus SugarHouse has is the fact that they offer both sports bets and casino games through the same platform online and through the mobile app. They are the first company in New Jersey to do so. By combining the two, bettors can effortlessly manage one single account that covers all of their transactions.
SugarHouse gives players a variety of options in other ways, as well. One approach allows users to choose between three different formats of betting odds. They’re able to customize their presentation between American, Fractional and Decimal odds based on what they’re comfortable with viewing.
Even after placing a bet, SugarHouse players are not completely locked into their commitment. Another new feature lets bettors cash out their original bet before the game is even over. Players can choose to limit their losses if things are looking terrible, or on the other hand, can bank part of their winnings prematurely in order to avoid a bad beat.
September, October and beyond
With a successful September in the books and October almost over, it’s only natural to think New Jersey sports betting numbers will continue to grow as we’re deep into sports season. If SugarHouse is able to duplicate the success it had from the first two months, it’s possible the sportsbook could do more than $1 million in revenue in just digital bets.
Sports betting is a fun and interactive way to get even closer to football games and it seems its popularity should only get bigger.
Sportsbooks like SugarHouse will have to maintain its creative efforts though, as it’s only a matter of time until more competing online books launch. Staying ahead of the pack will be key to continued high customer acquisition rates and long-term success in this ever-changing industry.
