Prime Sportsbook silently launched in New Jersey on Easter Sunday, expanding to the already extensive options accessible to Garden State sports gamblers.
As of Monday, Prime Sportsbook NJ is only accessible through a web browser. The iOS and Android versions are scheduled to be available in Jersey shortly.
Prime Sportsbook’s soft launch on March 31 brings the total number of permitted online New Jersey sports betting companies to 19. Prime Sportsbook is an online “skin” in New Jersey that operates under the sports betting license of Ocean Casino Resort in Atlantic City.
New Jersey: We are now open for business and happy to take your bets at https://t.co/sl8UQTk4LR pic.twitter.com/mu7UqNxJQK
— Prime Sports (@primesportsbook) March 31, 2024
According to the sportsbook’s website, state gaming regulators have mandated two additional soft play days on Monday, April 1, and Tuesday, April 2. Prime Sportsbook is already operating in Ohio. The company also intends to develop an online sportsbook product in Kentucky.
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Prime Sportsbook Aims to Alter the Game
It is no secret that Prime is entering a crowded field of providers in New Jersey. Some well-known firms, including Barstool, Maxim, Sports Illustrated, and Fox, have already pulled out.
But the “rookie” bookie promises a different experience. While the sports betting public has heard that phrase before, the people behind Prime Sportsbook could deliver.
Joe Brennan, an underrated and relatively unknown figure in expanding legal internet gambling in New Jersey and the United States, is Prime’s executive chairman. On X (previously Twitter), Brennan emphasized Prime’s readiness to accept bets from so-called “sharp” bettors, a lower vig (the house’s share for accepting the wager), and the ability for players to deposit “big money.”
All three points have been highlighted by veterans of the sports gambling industry who are skeptical of how some legal, regulated companies are conducting business.
Several big online sports betting companies are known to limit certain participants, especially if they’re winning. Sports betting executives have acknowledged this problem (maybe unintentionally), and legalization advocates, including the National Council of Legislators from the Gaming States, know it.
Prime, like betting exchanges like Prophet and Sporttrade, sees itself as attempting to reimagine what sports gambling is like for many Americans, especially those whose first experience with placing an online wager occurred after the 2018 PASPA decision.
NJ Online Sports Betting Industry Continues to Function Normally
Newcomers have yet to disrupt the status quo. FanDuel Sportsbook and DraftKings Sportsbook, two daily fantasy sports companies with enormous user databases before 2018, dominate the online sports gambling industry. In New Jersey, FanDuel and DraftKings are anticipated to account for more than 70% of the total handle (the amount wagered) and operator revenue each month.
BetMGM and Caesars, two bookies with ties to well-known casino brands, also hold a sizable portion of the domestic market. However, it pales in contrast to the leading operators. Others like Fanatics and ESPN have complementary business features that improve their sports betting product. However, the long-term results still need to be discovered.