It didn’t take long for New Jersey to get its sports betting industry up and running following the US Supreme Court decision that ended the federal prohibition on sports betting in May.
A law was passed. Regulations were written. And land-based sportsbooks began popping up in New Jersey as soon as the Division of Gaming Enforcement gave the thumbs up signal in mid-June.
That wasn’t the case with online sportsbooks.
Part of that was by design, as the state imposed a 30-day moratorium following the land-based launch.
But the first New Jersey online sportsbook didn’t appear until Aug. 6, and it would be several more weeks before another online sportsbook entered the NJ sports betting market.
That monopoly finally came to an end when the playMGM sportsbook app went live on Aug. 22.
The lightning round of NJ sports betting
New Jerseans didn’t have to wait near as long for another launch, as the veritable floodgates were opened.
Six more sportsbooks launched in a three-week period, increasing the total number of online sportsbooks in New Jersey to eight:
- Aug. 23, SugarHouse Sportsbook
- Sept. 1, FanDuel Sportsbook
- Sept. 1, William Hill Sportsbook
- Sept. 6, Caesars Sportsbook
- Sept. 10, 888 Sportsbook
- Sept. 13, BetStars
So, when will it stop?
The magic number is 42
New Jersey’s sports betting law and regulations allow each authorized licensee (a group that currently comprises nine casinos and four racing venues) no more than three online sportsbook brands.
If each licensee maxes out its online sportsbook offerings, the NJ sports betting market would possess an astounding 42 online sportsbooks.
However, like Jackie Robinson’s MLB-wide retired jersey number, seeing the number 42 is likely not in the cards for the Garden State. But it could get pretty close.
In an article for Forbes, industry analyst Chris Grove set the line somewhere in the Magic Johnson (32) to Larry Bird (33) range by the end of 2019, with around 28 online sportsbook brands by the start of the 2019 NFL season:
“Based on reported partnerships and launch timelines, we will likely have close to 18 online sportsbooks live in New Jersey before this NFL season ends, and it’s feasible that another 10 or so will find their way online before the start of next year’s season.”
The present and the future of online sportsbooks
In addition to the eight online sportsbooks, eight land-based sportsbooks can be found in the state of New Jersey. As of now, only a few have launched online brands:
|Casino/Racetrack||Land-Based Sportsbook||Online Brand #1||Online Brand #2||Online Brand #3|
|Monmouth Park||Yes||William Hill|
And as you can see, there are plenty more likely on the way.
Virtually the entire list above has partnered with or is in the process of partnering with sports betting operators.
Furthermore, casinos in neighboring states are eyeing the NJ sports betting market and looking to launch online sports betting brands through the state’s licensed casinos and racetracks.
The floodgates will likely stay open for some time.