Bet365 has partnered with the Hard Rock Atlantic City Casino to become the latest European-based sports betting company to get involved in the burgeoning US market.
With the legalization of sports betting being given the go-ahead by the US Supreme Court in May, there has been a scramble for gambling companies to take advantage. Numerous states have already rolled out their new sports betting laws, and a number of significant partnerships have been made in this space. The latest of these involves Bet365, a leading operator from the United Kingdom which has partnered with the newly opened Hard Rock Atlantic City Casino.
Partnership details
Bet365 has long been one of Europe’s leading online sports betting operators. The company’s offerings are nearly unrivaled in the space, catering for even the most obscure of football leagues.
The company submitted a request to the Division of Gaming Enforcement in New Jersey alongside the Hard Rock Hotel and Casino Atlantic City on June 25, 2018. The goal was to get approval for a partnership that would see Bet365 conduct sports betting operations for the casino.
This partnership has only received temporary approval so far as Bet365 awaits the approval of its casino service industry enterprise (CSIE) license application. The temporary approval lasts until July 31, which indicates that the CSIE license approval may be imminent.
The new Hard Rock Casino in New Jersey only opened its doors on June 27, and it currently has no sportsbook in place. However, at the casino opening, Jim Allen, the Hard Rock International CEO, asserted that a sports wagering partnership was set to be announced once DGE approval was given.
As well as opening the casino, the Hard Rock also launched its debut online gambling platform recently. At the moment, the platform caters only for casino games. This will surely change to encompass online sports wagering when New Jersey authorizes it, which is expected to happen in the coming weeks.
Similar partnerships
With Bet365 entering into this partnership, it is joining many other notable European gambling companies who have made similar deals since the legalization of sports betting was announced.
However, Bet365 is well-positioned to be one of the leaders in this new sector as it is the leader for sports betting in the United Kingdom and throughout Europe. The company certainly has the resources to make significant waves in this space, and there will certainly be large levels of competition when it comes to promoting its offerings and when lobbying various officials and groups.
Paddy Power Betfair, one of those betting heavily on this developing industry in the US, has also made some notable moves. It has bought a significant stake in FanDuel, the second most popular fantasy sports platform in the US.
This would be an ideal way for Paddy Power Betfair to get its teeth into the sports betting market in the country as it will already have this massive audience it can target. The other main competitor in the sports fantasy space is DraftKings, which has already applied for its own sports betting license in the state of New Jersey.
The US division of Paddy Power Betfair has entered multiple other partnerships also, including with the Tioga Downs Casino and the Meadowlands racetrack in New York. It also has a partnership with a casino and horse racing betting exchange in New Jersey in addition to owning significant US horse racing channel TVG.
William Hill is another big name in United Kingdom betting circles and it has been in partnership with the well-known Monmouth Park racetrack since 2013. The company also recently partnered with the Ocean Resort Casino in Atlantic City. This will see William Hill provide the sportsbook offering in this casino.
With all these European gambling companies entering the US market, many sports organizations are looking to take advantage and are seeking out sponsorship opportunities. William Hill US CEO Joseph Asher recently spoke about how the company has received countless phone calls and emails from major sports organizations in the country who were enquiring about sponsorships.
William Hill has already agreed to be the official betting partner for Lights FC, which is based out of Las Vegas. It is part of the United Soccer League, which is the next rung down from the Major Soccer League (MLS).
The Resorts Casino Hotel in Atlantic City has partnered with SBTech, a technology supplier based out of the United Kingdom. This will see SBTech looking after all the trading and risk management for the casino’s sportsbook. Kambi is another technology provider based out of Europe and it has partnered with DraftKings to help supply the company’s new sports betting product.
