Bet365 Officially Now Live In New Jersey
September 12, 2019
The US National Football League is this year celebrating 100 years of NFL football. The UK betting group Bet365, which incidentally has been named the most profitable gambling and betting operator in the world by Global Betting and Gambling Consultants, is also celebrating its own personal victory after having been granted a UK bookie operator licence by the US state of New Jersey. Just this week the operator launched its debut online betting site and mobile app in the Garden state, and in a nick of time for the new NFL football season.
Twitter users were first up to notice (aren’t they always?), as in addition to the usual UK bet lines trending on Bet365’s usual media homepage, this week appeared a brand-new variety of odds-making. The US NFL was suddenly trending in all of its glory on the UK operator’s Twitter account, and users weren’t about to allow the paint to dry on this one!
Lucky Number 16 In The US
Bet365 is now officially the 16th bookie-operator to be licensed to do its thing by the state of New Jersey. The local scene has been one of intense competition, with each bookie more committed to the cause of getting a foot in the door to the local market than the next. New Jersey is the biggest of the US states currently offering online sports bets. It stands to good reason too, as the state was one of the significant driving forces behind the push for legalisation of sports betting in the country.
But Bet365 isn’t the only force to be reckoned with in New Jersey’s online arena, says US Managing Director of consultancy firm Gambling Compliance James Kilsby. Two other exceptionally prominent US players are DraftKings and FanDuel. Between these two, they have control of at least 75% of the US online sports betting market. UK sportsbook giant William Hill currently occupies the third platform of the US bookie podium.
Says Philip Bowcock, who is the outgoing Chief Executive of William Hill, even though they (William Hill) are mindful and very aware of all major competitors, they have taken special cognisance of Bet365. The gambling and betting giant does after all control a stellar 8% of the global online gambling market.
What’s more, it has money lying around and available for the throwing at the new endeavour. One only has to consider Bloomberg’s recent pay scale comparison between Bet365 and search engine and IT giant Google to really appreciate the nature of the money beast. According to Bloomberg, Bet365 last year provided CEO Denise Coats with a benefits package to the tune of £220 million. To put matters into perspective, that’s exactly twice the pay parcel taken home by Google CEO Sundar Pichai.
The Trade Secret Is Consistency
It’s the consistency shown by Bet365 that makes it to be the success story that it is. So says betting consultancy firm Regulus Partners analyst Paul Leyland. The operator has near godlike discipline on the operations front and it has managed to keep going and keep its cool on the sports betting front when many others have tapped out due to pressure and regulatory difficulties.
The general consensus seems to be that if any one operator is able give the US market a run for its money, then that operator is the UK’s Bet365. It may have its work cut out for it, but its certainly more than capable of returning any curve ball batted its way. The bookie has shown itself exceptionally capable of adapting to different landscapes and the expectation is that it will do the same in the US.
In which case half the battle has already been won