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888sport launches in New Jersey

| By iGB Editorial Team
Sportsbook supported by Kambi, which offers new parlay option

Yaniv Sherman, 888's senior vice-president and head of commercial development (pictured), has relocated to the company's New Jersey office to spearhead the company’s expansion plans across the US after the 888sport brand was launched in the state.

With 888sport now available in New Jersey, it is the first time that 888 has offered sports betting to customers in the US. 888 CEO Itai Frieberger described the move as a “major milestone” for the company.

With FanDuel and Caesars also now live in New Jersey, there are now six operators offering online betting in the state, with DraftKings, SugarHouse and William Hill all available.

“This provides 888 with a unique and truly multi-product proposition in what is currently the largest regulated US state,” Frieberger said.

“888 has been committed to developing its position in the US since launching in Nevada, the first regulated US state, nearly six years ago and today we are the only operator with a presence in all three regulated US states.

“We now have our sport, casino and poker products all operational in the US and are continually developing our proposition, brands and technology to ensure that the group remains exceptionally well positioned to capture the potentially significant future growth opportunities as new regulation allows.”

888sport has been launched in New Jersey in partnership with Kambi, the company’s sportsbook provider across global regulated markets.

Kambi, which recently launched the Cash Out live ticket system in New Jersey, also went live with Teaser+ to mark the start of the 2018-19 NFL American football season this past weekend.

Teaser+, a new version of the teaser parlay, offers a different method of pricing the wager, with Kambi’s in-house trading team generating a price based on each individual leg of a player’s chosen parlay.

“When we considered how the market priced the classic teaser, we felt the processes involved had failed to evolve with the wider industry, or kept pace with technology, therefore we identified and implemented a more efficient and transparent way of offering these bets,” Kambi CEO Kristian Nylen said.

In a further development in New Jersey’s online sports betting market, DraftKings has become the latest sports betting provider to add PayPal to its list of payment deposit options – a move that is likely to provide a further boost to punters in the state.

FanDuel, SugarHouse and Caesars sportsbooks already offered PayPal, according to Legal Sports Report, which added that credit card decline rates are still understood to be at about 50% in the state for online gambling, having improved from about 75% five years ago.

This Wednesday, the figures covering the first full month of online sports betting in New Jersey featuring DraftKings will be revealed by the state. DraftKings said last week that it had already processed one million sports bets in New Jersey since launching its sportsbook in August.

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