Underdog Fantasy announced it is preparing to go live with its Pick’em Champions product in New Jersey as early as this month. This comes on the heels of the company leaving neighboring state of New York after a settlement agreement with the regulator there.
Since the Garden State has regulated online casinos and sports betting, fantasy sports don’t see much of the spotlight. However, Underdog is looking to make its mark in New Jersey. It is no stranger to the Garden State, but needs to have everything in place to launch the new game.
A spokesperson from the New Jersey Division of Gaming Enforcement (DGE) told PlayNJ on Wednesday:
“Underdog Fantasy is certified with the New Jersey Division of Consumer Affairs as a fantasy sports operator in New Jersey and has been since 2020.
“Underdog is currently offering several fantasy sports contests in New Jersey but does not offer any ‘pick’em’ contests here. All fantasy sports products offered in New Jersey must comply with statutes and regulations for fantasy sports operations in this state.”
What is Underdog Fantasy and how to play Pick’em challenge
Underdog Fantasy is no stranger to the US gambling world. It currently offers daily fantasy sports (DFS) in 36 states. The Garden State is an important piece to Underdog’s success, the company’s general counsel, Nicholas Green, said in a press release:
“New Jersey and Delaware have been at the forefront of modern sports gaming regulation, and bringing our Pick‘em Champions game to those states is yet another endorsement from highly respected regulatory bodies of the product we built, which much of the industry has now replicated.”
The company offers daily fantasy games, along with its notable Pick’em Champions product. The Pick’em Champions game is a peer-to-peer contest where players select a roster of multiple players and predict the outcome of, essentially, a prop bet. While sports bettors are familiar with the “over” and “under,” Underdog uses terms such as “higher” and “lower.”
Since it is peer-to-peer, players compete against others in a tournament and earn points for each correct entry. They are measured against others’ picks in the tournament, as explained on the website:
“Correct selections earn the participant Champions Points. The entry with the most Champions Points wins. The final amount participants win depends on how they perform relative to other participants in the tournament.”
Underdog currently offers its “Drafts” game in the Garden State.
Why Underdog is leaving New York
Underdog had operated in New York since 2020, however, did not have a license until it acquired Synkt Games, taking over a temporary one.
The New York State Gaming Commission came to the conclusion that Underdog was offering games that did not pertain to the company’s temporary license it took over. And it never received a permanent one, either. Green added in a statement about Underdog’s New York exit:
“For nearly a decade, fantasy sports in New York has operated in regulatory uncertainty, including licensing delays limiting consumers’ choices to only a couple of legacy operators. We disagree with the Commission, but the settlement does provide clarity on New York licensing issues.
“The settlement recognizes that Underdog worked in cooperation with the Commission and operated at all times in a good faith interpretation of state law. We look forward to offering all of our contests again to New Yorkers, and we are working with the Commission to do so as soon as possible.”
Underdog agreed to pay $18 million to leave New York. However, it is eying a return to the Empire State sooner rather than later.
