“Legal sports betting in Jersey? You bet” read the brand new green and black billboards as you drive into Atlantic City. How is this possible? Surely it isn’t legal?
14th May 2018 saw a ruling from the US Supreme Court legalizing sports betting in New Jersey after a multi-million dollar, five year battle which paves the way not only for legalization in New Jersey, but in many other states, apart from Nevada, for the first time.
Draft Kings are not wasting even one day in getting their foot in the door of what promises to be a very exciting, and lucrative, new opportunity in the state as their advertising campaign went live last week. Highway billboards and transit signage is spelling out their intention loud and clear – market domination.
Sports Betting AND Daily Fantasy Sports on one site for New Jersey
Draft Kings had their finger on the legal pulse of developments within SCOTUS, when in November 2017 their CEO, Jason Robins hinted that they intending looking at the legal sports betting market while he was in Portugal to announce that Draft Kings would start providing live-streaming of the Euro League games in the US. Then in December, they announced their intention to relocate their offices making space for an additional 300 employees. We assumed that this was in preparation for the legalization of sports betting, but that went unconfirmed.
Draft King then opened a new office in Hoboken, New Jersey and hired Sean Hurley to oversee the roll-out of their interests locally. Hurley comes with extensive European and British business experience, not only in the business- to-business gaming sector but also in catering to the market directly. This can only be described as an astute and market aggressive move.
UK interest in the US market is has also been indicated by UK bookmaker Paddy Power Betfair being in acquisition talks with locally based FanDuel. FanDuel had previously also announced their interest in sports betting.
The legal requirement for Draft Kings to roll out their sports betting online platform and mobile app, will necessitate a land-based casino partner. Who might this be? That’s anybody’s guess at present, as Draft Kings have only stated that they are “actively seeking” suitable partnerships. The same is true for the development of their platform – will they be handling this internally or will they be using a service provider for their software? Nobody knows as they are playing their cards close for now.
We have an intriguing situation now, where we are seeing a robust and costly advertising campaign running in an information vacuum. What is their next move? We’ll just have to sit tight and see how this unfolds!