The US sports betting market is regularly expanding. About a couple of days ago, we reported more about the expansion of the casino industry in the US, with Dakota, Louisiana and Maryland being the last states to approve sports betting. On the other hand, Tennessee had a successful sports betting launch and is now the 19th state to offer sports betting in the US.
The latest news from the US sports betting market comes from New Jersey, where lawmakers want to amend the state constitution and allow sports betting on all major college games. In addition, another important measure passed the New Jersey State Senate regarding horse racing.
A public hearing is necessary
New Jersey lawmakers have taken the first step towards placing a new amendment on the November 2021 ballot. Namely, the state Senate unanimously approved a proposed constitutional amendment to allow wagering on certain college events. New Jersey is a host to many college and tournament events, including eight NCAA Division I men’s and women’s college programs. By having college sports betting approved, New Jersey can bring more revenue into the state.
Originally, there was a proposal to allow a limited amount of college sports wagering in New Jersey. However, a new amendment was included in Monday’s session that allows betting on all college sports events and Division I college sports teams in New Jersey. The measure was approved by the Senate Budget Committee and Sen. Paul A. Sarlo said that he had received approval for the go-ahead. Still, a public hearing is necessary for this amendment to pass and then be voted and added to the bill.
Furthermore, another measure was introduced to the Senate in New Jersey, which permits state racetracks to offer fixed odds on horse races. The Senate Budget and Appropriations Committee voted 11-0 unanimously to approve this measure. Once the bill is approved by the majority of the Senate and the Assembly, it will be sent to Governor Phil Murphy for his approval.
BetMGM launches live casino in New Jersey
While the lawmakers are deciding on the college sports betting situation in New Jersey, BetMGM announced the launch of a new live casino offering in the state. The operator launched a live casino in partnership with Evolution Gaming. This marks Evolution’s fifth partnership in the United States in just a month, as it announced deals with FanDuel, William Hill, Wynn, and Rush Street Interactive. On the other hand, BetMGM is the first operator to offer content from both Evolution and Ezugi - the two live casino providers available in the state.
The partnership between BetMGM and Evolution Gaming was announced in August and since then, players have shown a lot of interest in their Live Casino products. In the first week of its launch, Evolution received a third of the total live casino stakes in New Jersey, and BetMGM saw a revenue increase by 30%. In addition, there were 20 exclusive online slots launched for BetMGM in New Jersey as well, including popular land-based slot titles like Mustang Money.
Commenting on the launch, Colin Cole-Johnson, director of gaming product for GVC, said that this is a great demonstration on how GVC helped BetMGM secure a market-leading position in the US.