Carousel Group On The Hunt For Partners In NJ Sports Betting Market

Posted on May 27, 2020 - Last Updated on May 28, 2020

Carousel Group isn’t just hiring in New Jersey. The sportsbook operator is preparing to enter the NJ betting market.

The specific details pertaining to launch dates and partnerships are still developing. But PlayNJ did learn a few details.

According to a Carousel spokesperson, the company is “close to finalizing a deal” with an Atlantic City casino. The deal may be completed in the next month. An operating license is forecasted for Q1 of 2021.

So, don’t expect Carousel to be up in time for the 2020 NFL regular season. But if Carousel does launch in New Jersey, that would make it 18 NJ sports betting apps total.

Wait, who is Carousel Group?

Carousel Group was established three years ago. Its primary mission is to “build a global iGaming empire in the regulated online gambling space.”

SportsBetting.com is one of its two primary brands. RaceBook.com is the other.

That sets the table for mobile and online sports betting across a wide swath of the US.

Its first entry will be Colorado. The Colorado Gaming Board gave its stamp of approval and Carousel hopes to have a full launch in September.

Daniel Graetzer, THE CEO at Carousel Group, told PlayColorado that the company hopes to be in New Jersey by the end of 2020.

Sign Up Bonus Up to $1,025
Up To $1,025 Free
Sign Up Bonus. T&Cs Apply.
$25 Free No Deposit Needed
Up to $500 Deposit Bonus
Up to $500 Free Bet
No Promo Code Needed - Use Our Link

Carousel Group and possible AC casino partners

Now the NJ sportsbook market includes 17 apps, not to mention several land-based books at casinos and racetracks. The nine casinos and three racetracks are each permitted a trio of online skins.

That’s 30-plus total sites permissible in the Garden State. (Keep in mind, Freehold Raceway currently does not offer sports wagering.)

But if we are specifically talking casinos, the potential partnerships are limited. Take a look:

Resorts DigitalGolden NuggetHard RockOcean CasinoCaesarsTropicanaBorgata
DraftKings SportsbookGolden Nugget SportsbookHard Rock SportsbookWilliam Hill NJ*888 Sports NJWilliam Hill*Borgata Sportsbook
Fox Bet NJBetAmerica NJUnibet NJCaesars SportsbookBetMGM Sports
Resorts SportsbookBet365

*William Hill NJ shares licensing between three partners: Ocean Casino, Tropicana and Monmouth Park. 

Resorts Digital, which includes two of the top sites in the state (DraftKings and Fox Bet), does not have any availability. Neither does Hard Rock Atlantic City.

And it would seem unlikely that Caesars, Harrah’s or Tropicana will expand their respective sports betting operations while the Eldorado-Caesars merger is reaching the finish line.

On the other hand, once the sale of Bally’s to Twin River Holdings is finalized, the door is wide open. Bally’s would have three online skins of its own.

Golden Nugget AC is another option. Besides its self-branded online sportsbook, BetAmerica operates under the license. So, there is room for one more. The same goes for Borgata.

Ocean Casino has an online partnership with William Hill. Adding a self-branded sports wagering product to the existing online casino platform could be in the works.

Last year, Parx launched an online casino product via the Ocean license. The sports product remains up in the air. So we will leave a question mark here.

In other words, Carousel Group has options if they are serious about an NJ launch.

Carousel Group needs DGE approval

The news about Carousel comes at a time when pro sports leagues are working on restart plans.

But even with sports on hiatus, the idea of entering the NJ sports betting market is a no-brainer.

In 2020 alone, Garden State bettors wagered more than $4.5 billion, more than 80% of which was generated via mobile apps.

But the first step for any would-be sportsbook operator is working out the details of a land-based partnership. The other is applying for a license with the New Jersey Division of Gaming Enforcement.

Then comes the approval process.

If everything goes well with these steps, Carousel will receive its entry ticket.

And, if early 2021 is a realistic timeline, NFL betting may not happen, but Super Bowl betting looks like a possibility.

Bill Gelman Avatar
Written by
Bill Gelman

Bill Gelman is a veteran sports writer based just outside of Philadelphia and not too far from the Jersey Shore. Bill spends time in Atlantic City writing about casino openings and expansions, special events and now NJ sports betting and online gambling.

View all posts by Bill Gelman
Privacy Policy