New Jersey’s online betting market just got a new entry.
BorgataSports.com just became the 14th New Jersey online sportsbook. Borgata has made it available on Android, iOS, and desktop. Interestingly, the launch coincided with PASPA (Professional and Amateur Sports Protection Act) repeal’s first anniversary. Thus, it’s quite a historic event. In May 2018, a law from 1992 was lifted, and it essentially made sports betting legal. Additionally, NJ has 10 physical sportsbooks.
Furthermore, the online sportsbook is the third Borgata venture, with the previous two being BorgataPoker.com and BorgataCasino.com. These two gambling sites are integrated on the same platform.
Many are wondering why the wait for the online sportsbook was so long since Borgata was the first to establish a physical Garden State sportsbook. Thus, the news was quite surprising.
Borgata CEO, Marcus Glover, released a statement in which he claims that customers come first for all Borgata brands. Glover confirms that existing members of Borgata online platforms will be able to access the new online betting site through their old accounts, which is quite convenient. The CEO believes that it will be a “seamless transition.” What’s more, Borgata is the leader in casino revenues in Atlantic City.
MGM and Borgata
BorgataSports.com will actually be the second skin in MGM’s sportsbook license. According to the law, the company can have three skins. So, the app from Borgatta will fall under playMGM New Jersey.
Furthermore, the betting site is actually a product of a GVC Holdings and MGM partnership. This partnership started in 2018. Also, for fans who are looking for a land-based sportsbook, Borgata is planning to open a new establishment. The land-based sportsbook was announced at the beginning of 2018, and the estimated investment is $11 million. This sportsbook will feature an integrated bar.
The information from Borgata’s press release has revealed some more details concerning the sportsbook. Namely, BorgataSports.com will offer straight bets, parlays, and futures. Also, there will be daily boosted parlays and live bets for various sports. Moreover, the site will also provide various deposit methods and a welcome offer of up to $250 risk-free. Some of the deposit methods will be PayNearMe and Neteller.
In terms of sport types, the site will offer sports betting for international and U.S. tournaments and games. This will include tennis, racing, MMA, rugby, boxing, golf, etc. The Major leagues supported will be NHL, NBA, NFL, MLS, and others.
The company surprised most bettors when they launched the site at a quite unusual time. Namely, most of the main sports are currently slowing down. For example, the NBA and NHL are wrapping up. A lot of the U.S. leagues are moving in to offseason. Additionally, April was quite a sluggish month for NJ sportsbooks, however, that was expected after March Madness, which caused a massive revenue increase.
It’s possible that most sportsbooks will experience a decline in numbers in May and June. As summer arrives, the NHL and NBA will increase some interest for sportsbooks.
Additionally, this summer, three of the biggest soccer tournaments will be the focus of sportsbooks (Gold Cup, Copa America, Women’s World Cup).