Aussie Firm Enters NJ Sports Betting Market

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Associated Press
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ATLANTIC CITY, N.J. (AP) — New Jersey has given preliminary approval for an Australian sports book provider to offer online sports betting.

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The state Division of Gaming Enforcement said Tuesday it is letting PointsBet conduct so-called “soft play” betting in affiliation with the Meadowlands Racetrack.

The company would only operate online. FanDuel runs the in-person and the existing online sports book at the Meadowlands.

It offers an unusual product that lets gamblers win, or lose, greater amounts depending on how close they are to the final score of an event.

New Jersey’s sports betting market is rapidly expanding, having taken in nearly $600 million worth of bets from its inception in mid-June through the end of October. Figures for November are set to be released on Wednesday.

In another development, the National Basketball Association reached a deal Tuesday with The Stars Group as an official gambling operator, allowing it to use NBA betting data and league marks across its digital platforms.

The Stars Group currently operates in New Jersey under the BetStars brand. It includes PokerStars and Full Tilt among its many online brands, and has an affiliation with Resorts Casino in Atlantic City.

During the multi-year agreement, The Stars Group will be promoted across the NBA’s digital assets including NBA TV, NBA.com, the NBA app and NBA social media platforms. The NBA will be promoted across The Stars Group’s gambling platforms.

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