If the Unite States have had a transformative effect on online gaming, sports betting and even poker, it’s British bookmakers that have spearheaded the industry, bringing the best practices from home with them. Following this trend, Bet365 is about to set up its first shop in the country.
Bet365 Arrives in New Jersey with First US Shop
UK-headquartered sports betting and gaming agency Bet365 is easily one of the world’s most recognizable names in the industry it’s chosen to operate in. Now, the company is expanding the scope of its operations as well as the markets it will operate into, adding New Jersey to its plans.
The company has already signed a lease for a venue which will most likely be the center from which all other Bet365 activities will spiral out across the state. If all goes well, the company should have its operations all set up and running by the summer.
Having purchased a 19,000 sq ft venue at the Two Greentree Center in Marlton, around 75 kilometres from Atlantic City, Bet365 is planning to take its place alongside other British heavyweights such as William Hill and 888 Holdings.
Bet365 Is New, But Not Alone in New Jersey: Hard Rock Partnership
Bet365 has been pushing forth for an entry into the US market since the summer of 2018, a few months after the federal ban on sports betting was struck down, the UK operator was quick to act and tie up an important partnership with Hard Rock.
New Jersey expects all online operators to be physically present in the state and to also sign a partnership with an existing land-based casino brand, which has so far not proven an issue for any new entrant in the state.
In the case of Bet365, that partnership was forged with the help of Hard Rock Hotel & Casino Atlantic City, allowing the UK gaming company to find a strong purchase in the state. Bet365 has been one of the fastest-expanding brands at home and the company’s co-founder, Denise Coates, is the world’s best paid executive.
Bet365 has been a titan among gambling companies. The company’s turnover for the financial year that ended on March 25, 2018 hit nearly £3 billion and the Bet365 is presently the United Kingdom’s second-largest tax payers. This has enormous implications for the business, helping it build a name for itself and establish itself both at home and now across the Atlantic.
Of course, the US context is slightly different that what the company’s used to at home. The US market is becoming even more accommodating amid tightening regulatory screws back at home, with tax going up and advertisement becoming more restrictive in a bid to protect customers.
Bet365 has been late to join the US, but it’s now well on track to kick-start its operations in New Jersey. Can it compete with DraftKings, though?