Draftkings New Jersey

 

New Jersey Office PO Box 399 Hoboken, NJ 07030 We are regulated by the New Jersey Division of Gaming Enforcement as an Internet gaming operator in accordance with the Casino Control Act N.J.S.A. 5:12-1 and its implementing regulations. DraftKings Sportsbook NJ is one of the premier sportsbooks in the Garden State. There is a big crowd of online sportsbook active in New Jersey right now, but DraftKings does, indeed, stand above the crowd. Part of the reason that DraftKings is a cut above centers around its innovative app design. DraftKings Sportsbook was the very first New Jersey betting site to go online after the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA) in May of 2018. It launched in August of 2018 and has become very popular very quickly, and with good reason.

DraftKings has no plans of leaving New Jersey anytime soon. The Boston-based company unveiled its new 7,500-square-foot office in Hoboken.

To put that into perspective, the DraftKings Sportsbook at Resorts Atlantic City is 5,000 square feet.

There are more than 50 employees working inside the new digs that feature state-of-the-art technology.

Of course, the New Jersey office does not quite measure up to the corporate headquarters that opened just last month in Boston’s Back Bay section. That one comes in at 105,000 square feet.

But make no mistake: The Garden State is a key player in DraftKings’ current and future growth.

Paul Liberman, COO and co-founder, spoke to media members last Tuesday about the importance of being in New Jersey.

“This is turning into our gaming hub. A lot of our talent here is for our overall sports betting product. It’s not just New Jersey related. As we expand nationwide, New Jersey is going to have a more critical role.”

DraftKings + NJ sports betting

The origins of DraftKings date back to 2012 when Matt Kalish, Jason Robins, and Liberman co-founded the daily fantasy sports company. And it started out of his spare bedroom.

The DFS product is now available in 42 states, with Alabama recently coming onboard.

At the time, the reality of legalized NJ sports betting was still facing a major hurdle: overturning the Professional and Amateur Sports Protection Act (PASPA).

But expanding into the world of sports betting was indeed on the radar.

After all, DraftKings NJ holds the distinction of being first to launch an NJ sports betting app and the first of its kind outside Nevada.

“I think a lot of people counted us out because we’ve never been in regulated gaming and regulated gaming markets. One thing about the culture of DraftKings is we love challenges and overcoming those types of challenges.”

From upstart to sports betting leader

Looking back at the other mobile online sportsbooks that launched prior to the start of the 2018 football season, the majority of the other players were established casinos or bookmakers. The list includes:

  • PlayMGM Sports(Aug. 22)
  • PlaySugarHouse NJ(Aug. 23)
  • FanDuel Sportsbook (Sept. 1)
  • William Hill NJ(Sept. 1)
  • Caesars Sportsbook(Sept. 6)

But DraftKings’ sports betting revenue puts them in first or second place on a monthly basis. FanDuel has a firm grip on the top spot at the moment.

For Liberman and the DraftKings team, it was mission accomplished.

“Believe it or not, about a year and a half ago, we said we wanted to launch our sportsbook on Aug. 1, 2018, assuming PASPA got overturned. The team was able to turn it around on Aug. 1 at 5 p.m.”

Testing began with a soft launch, and the rest is history.

Total Bonus Offer
Plus 20% deposit match up to $500

There’s an app for that, too

It’s no secret that mobile apps such as DraftKings are the key to becoming the top sports betting market in the land. And now, it’s no longer just chatter.

Nevada released its revenue figures late last week, and the Silver State enjoyed its best May ever with a handle of $317,380,281.69.

But New Jersey took the sports betting crown with a handle of $318,940,677.

And online sports wagering continues to be a huge contributing factor. In May alone, $263.5 million came via mobile and online devices, accounting for 82.6% of the overall handle.

Jersey

Jamie Shea, head of digital sportsbook at DraftKings, explained that mobile betting “really lends itself so well to live betting.”

“If you want to bet while the game is going on, it’s such a quick turnaround. You’ve got like 30 seconds to make these wagers. To have mobile betting is really important.”

The concept also lends itself to some great promotional offers. DraftKings, for instance, made May 14 free to bet day, celebrating the one-year anniversary of PASPA’s fall.

Yes, something is in the works for the August anniversary, too. Shea and the DraftKings team are not quite ready to spill the beans just yet.

Crossing the sports betting bridge

It’s highly likely that wherever legal sports betting is accepted, DraftKings will find a way to become a major player in the market

Think about it. The mobile app was just phase one.

In November, DraftKings opened a permanent retail sportsbook in Atlantic City. It’s now one of the more popular places to bet. You also may have heard about the DraftKings Online Casino, which is integrated with the sportsbook app.

Liberman is certainly pleased with the New Jersey online casino’s performance to date. In fact, he’s quick to point out that a lot of players also like table games. The cross-selling has already garnered headlines as Resorts AC posts ever-growing NJ online gambling revenue.

DraftKings also has sportsbooks in Mississippi at the Scarlet Pearl. And the company hopes to launch online in West Virginia via a licensing agreement with Penn National Gaming.

It’s highly likely that scenic NYC view from Hoboken will be one of many down the road for DraftKings. Indiana,Tennessee, and maybe just maybeNew York are now on the radar.

Liberman and the DraftKings team are ready for that next challenge.

“The industry is growing faster than we projected, and it’s been amazing to see. I would say it has passed our own internal projections.”

The abundance of attention DraftKings Sportsbook has attracted as a new entry into the sports betting space is befitting of a product with a prominent, nationwide presence.

Up to this point, DraftKings has generated all that momentum as a digital-only offering in a single state. However, its profile is set to grow before the calendar flips to December.

First, DraftKings will expand to its first jurisdiction outside of New Jersey on Friday. That day marks the grand opening of its first brick-and-mortar location ever, at Scarlet Pearl Casino Resort in D’lberville, MS.

But as with all things sports betting in a post-PASPA landscape, the company’s original Garden State hub won’t be far behind.

Later this month, Resorts Casino Hotel expects to open the doors to its own physical DraftKings Sportsbook location, pending approval from the state’s Division of Gaming Enforcement.

“We are proud to partner with an industry leader in sports betting and open an innovative sports betting experience that only DraftKings Sportsbook at Resorts will offer,” said Mark Giannantonio, president and CEO, Resorts Casino Hotel.

Draftkings sportsbook new jersey

“Once completed, the new on-property retail space will bring an immersive and entertaining gaming experience for our guests and sports fans alike, ensuring the best sports betting scene in Atlantic City.”

No shortage of amenities in the DraftKings physical sportsbook space

As with DraftKings Sportsbook’s digital version, the Resorts location will feature “multiple sports and wagering options, such as live, in-game betting.”

The press release announcing the forthcoming grand opening specified the location will feature five betting windows and an additional 12 kiosks. It will boast a total of 5,000 square feet of space.

Draftkings New Jersey Revenue

And, in the spirit of new-era sports betting “lounges,” the Resorts version of DraftKings Sportsbook will spare no expense when it comes to physical amenities.

The location will feature ultra high-definition videowalls, a VIP area and stadium-style seating complete with charging ports.

Furthermore, bettors will be able to avail themselves of some sustenance for those daylong betting sweats via a full bar with food and beverage service and bar-top electronic slots.

Slow and steady serves DraftKings well thus far

DraftKings has taken a deliberate approach to its sports betting-related rollouts.

For example, they’ve operated at a slower pace than fellow daily fantasy sports (DFS) and now sports betting rival FanDuel. FanDuel already has physically branded locations at West Virginia’s Greenbrier Resortand Meadowlands Racetrack in New Jersey.

While FanDuel has gotten a head start on the brick-and-mortar front, DraftKings–utilizing one of the Resorts’ online licenses–has already established its dominance on the digital end of the New Jersey sports betting market.

Draft Kings Lineup Mlb Today

Resorts reported September revenues of $8.5 million, making it tops in the Garden State for that period. DraftKings Sportsbook was responsible for a significant portion of that figure.

Draftkings New Jersey Sportsbook

It repeated the feat in October during what was a down month for revenue for New Jersey bookmakers, as they once again led the online sports betting category with just under a $5.1 million hold.

The detailed approach aims to extend what has been an impressive initial foray into an industry the DFS industry leader previously had no experience.

Draftkings Sportsbook Nj

“We’ve been working for months with the team at Resorts to make sure the DraftKings retail sportsbook meets the highest bar for quality and customer experience,” said MattKalish, chief revenue officer and co-founder of DraftKings.

Draftkings Online Casino

“We are tremendously excited to launch our first physical presence in the state with such a trusted partner and to service their loyal patrons.”