New Jersey online sports betting currently offers 17 sportsbooks, including new sportsbooks in NJ that have launched, with more on the way. While 17 sports betting apps might seem like overkill, there are differences between the apps that attract different types of bettors.
The newest online sports betting apps in NJ offer fresh new takes on sports wagering, and most books have certain benefits over others. Sporttrade NJ and Prophet Exchange are the newest players in the NJ market, which offer a new twist on America’s growing pastime of betting on sports.
State law allows for up to 36 online sports betting “skins” or sportsbooks to join the market. Most states haven’t maxed out the allowable number of skins, and no states have nearly 36 different ones. At this time, three more sportsbooks are expected to launch in NJ, possibly by the end of 2023.
Recommended NJ online sportsbooks
Our top NJ online sportsbooks are well-established in the US and rank among the top market shareholders in the states where they operate.
In other words, they have a large number of satisfied customers. In addition, they represent a great array of offerings and provide the best user experience and customer service.
What is the newest NJ online sportsbook?
New Jersey provides fertile ground for new sports betting companies to get in on the action. The Garden State surpassed Nevada in its first year after legalizing sports betting and remained the largest sports betting market until 2022.
Still a huge market, NJ ranks second in sports gambling per capita, second only to Nevada. NJ is an attractive market to serve as a springboard for new companies and offers opportunities for existing sportsbooks to expand.
The two newest sportsbooks in NJ – Sporttrade and Prophet Exchange – allow bettors to “trade” on sports bets, similar to how stocks are traded. In sports betting “exchanges,” customers bet against other traders instead of against the house. Bettors can watch the price of their bets change and have the opportunity to buy or sell in real time in order to get out with a profit or cut losses.
The new NJ sportsbook app doesn’t look quite like the others. In essence, Sporttrade NJ works like the Robinhood stock trading app, but users are trading sports bets. Instead of a peer-to-peer platform, which would require the app to match each customer’s bet against another customer’s opposite bet, there are market makers that guarantee buying and selling is always available to customers.
Prophet Exchange NJ works on the same basic principle, but it will look somewhat familiar to users of other sports betting apps. American odds are used, and potential winnings are expressed based on a $100 total. Eg: Bet $42 to win $58. This app is a peer-to-peer platform, where bettors are matched up in a winner takes all scenario. Customers can buy or sell bets as the price changes, as long as they’re available on the open market.
New NJ sportsbooks to launch soon
As noted, with plenty of skins available in New Jersey comes plenty of room for new sportsbooks to join the NJ sports betting landscape. These companies are at the top of the list to expect a New Jersey launch and will almost certainly try enticing new bettors with some of the most competitive sportsbook promos in New Jersey.
Prime Sportsbook NJ
Bettors in New Jersey can look for a sportsbook that plans to offer them high limits, rebets and no limits. Prime Sportsbook just launched in Ohio and has plans to launch in the NJ sports betting market in the foreseeable future. As for when that could happen, no date is set. However, the wheels are in motion for Prime Sportsbook to enter New Jersey.
ESPN Bet NJ
Penn Entertainment entered into a 10-year agreement with ESPN, which would bring in an ESPN Bet sportsbook to replace Barstool Sportsbook. In essence, Penn would just rebrand the existing product as ESPN Bet. Which means New Jersey bettors could see the Worldwide Leader have its own sportsbook this fall.
NoviBet Sportsbook NJ
NoviBet announced a new partnership with Caesars in Pennsylvania and NJ, paving the way for the company to acquire licensing to operate its online casino and sportsbook apps in NJ. Details of the PA deal do not include a NoviBet online sportsbook for that state. The latest from the company suggests that a NoviBet NJ online sportsbook is still on the table for 2023, but there hasn’t been an update since August 2022.
BallyBet Sportsbook NJ
Bally’s Online Casino is partnered with Bally’s Atlantic City, but Bally Bet hasn’t updated its plans to go live with its sports betting operation. Bally Bet Sportsbook recently shut down its app temporarily while moving to a new platform operated by Kambi. Bally Bet will re-launch first in Ohio in August and will launch in other states on a state by state basis over the following months. We expect Bally Bet will set its sights on NJ to launch its revamped sportsbook app in 2023.
Advantages of signing up with new NJ online sportsbook
As previously mentioned, there is some variety in the available online sportsbooks. For the best experience, it helps to research the options and try out more than one.
Certain NJ online sportsbooks offer stronger markets for certain sports – meaning better odds, more promos and more betting options on the menu. For example, FanDuel Sportsbook NJ and DraftKings Sportsbook NJ, having started as fantasy sports platforms, have a lot to offer for NFL and NBA bettors. BetMGM Sportsbook NJ is a good app for betting on major boxing and UFC events. Other apps have more to offer for Soccer and European sports.
Having multiple sportsbook apps also allows users to compare the odds offered by different books on specific bets they want to make. It’s not unusual to find a certain outcome offered at +100 on one app and +120 on another. The odds can change as game time approaches, so checking in on more than one app can be beneficial.
Some NJ sports betting apps offer better odds than others on the whole, allowing bettors to make a little more money on their wins. For example, bet365 Sportsbook NJ has gained popularity for offering better odds than its competitors. The two newest NJ online sportsbook sites, Sporttrade and Prophet Exchange, also take a smaller cut of winnings than others. The two sports exchanges only take about a 2% commission on winnings.
New customers on many NJ sports betting apps can take advantage of new user NJ sportsbook promos that aim to acquire new customers. Bet365 and FanDuel have some of the best new user offers that give customers a generous amount of “bonus bets” after the user has made a deposit and/or made a wager on the app. Bonus bets can be used to place wagers without risk. It is very important to read the details, terms and conditions of new user promos. They aren’t always as good as they sound.
How do new NJ online sportsbooks get approval to launch?
In New Jersey and other states, new online sportsbooks are required to partner with an existing brick and mortar casino licensed and operating within the state. They can also partner with one of the three horse racing tracks in the state.
Each of the already existing gambling facilities can partner with up to three different online sportsbooks to offer betting apps in NJ.
With nine casinos in Atlantic City and the three racetracks, NJ could legally have up to 36 online sportsbooks. Online and mobile betting is permitted anywhere within state lines. Geolocation and geofencing are used to ensure users are physically present in NJ to place bets.
New NJ online sports betting features
With so many choices, the reasons to try out new online sportsbooks in New Jersey might escape some bettors. The NJ sports betting market is very competitive, and new NJ sportsbooks are always innovating new ways of betting, offering special features and adding other benefits that set their apps apart.
New spins and features that NJ sportsbooks have come up with include:
- Same Game Parlay – a low-risk, high-reward bet that consists of stacking up multiple outcomes within a single game that must all come true to win the bet.
- Hard Rock’s new sportsbook app, Hard Rock Bet, introduced a new feature called Flex Parlay that allows users to specify the minimum number of successful legs required for a parlay bet to yield a payout.
- As mentioned, Prophet Exchange and Sporttrade offer platforms for “day trading” on your sports bets.
- More and more apps are offering in-play betting, which allows users to bet on events in a live game, such as the result of the next at-bat (baseball) or the result of the next offensive drive (football).
- Bet365 offers “Early Payout” in which a straight win bet will pay out early if the user’s chosen team gains a lead of a certain amount of points.
Responsible Gambling in NJ
NJ is committed to promoting responsible gambling, and sports bettors in NJ have a suite of responsible gambling tools at their fingertips when using every sportsbook app, new or old. It’s important to remember that gambling is inherently risky, and can become addicting. Problem gambling causes financial strain, emotional distress and problems in other areas of your life. No one wants that.
Staying in control is essential to avoiding problems in the future. And that’s what the built-in tools are designed to do: keep you in control. Using the limit-setting features is just plain smart, and we recommend you use them.
Some of the limit setting tools built into NJ sportsbooks are:
- Deposit Limits: This allows users to set a cap on how much money they can deposit into their sportsbook accounts within a specific time frame, such as daily, weekly, or monthly.
- Loss Limits: A very good option to keep tabs on your losses, and cut betting access when you hit a certain loss amount in a given time frame.
- Betting Limits: Allows users to set the maximum amount they’re allowed to bet in a given period.
- Time Limits: Prevent excessive use by setting a maximum time limit for using the app.
- Self-Exclusion: Completely bars a user from accessing the app for whatever time period they choose.
Resources are available in NJ and every legal gambling state for those who need additional support for problem gambling or gambling addiction. Here are a few of the resources available in NJ:
- Council on Compulsive Gambling of New Jersey (CCGNJ): Provides support, treatment, and hope for problem gamblers.
- 1-800-GAMBLER: A helpline that offers support and assistance 24/7 for those who believe they have a gambling problem.
- New Jersey’s Self-Exclusion Program: This is a program where individuals can voluntarily ban themselves from all online gambling activities in the state for a specified period
- National Council on Problem Gambling (NCPG): Provides support and resources at the national level.
- Gamblers Anonymous: A support group where members share their experiences and provide mutual support to each other.