TheScore Bet is set to launch in the online casino market in the state of New Jersey. There have been rumors of this launch taking place, but the news was made official earlier this week.
TheScore Bet is a product of Score Media and Gaming Inc., and they have been working to develop an online casino platform. According to the announcement, theScore is not expected to launch their online casino until the second half of next year.
The New Jersey Division of Gaming Enforcement will still have to approve theScore Bet’s application, and they will then decide whether or not to issue a license. The iGaming industry in New Jersey has seen plenty of growth in the last few months, and theScore Bet will help push the industry along.
There is another factor that could slow up this process as the deal hinges on Twin River Worldwide Holdings Inc. acquisition of Bally’s Atlantic City Hotel and Casino. Twin River acquired Bally’s as a part of a much larger merger between Caesars Entertainment and Eldorado Resorts Inc.
TheScore is based out of Toronto, Canada, and this agreement is a 10-year contract, and it will allow theScore to build on their popularity from its current sports betting platform. Internet gaming has grown in popularity since the start of the ongoing COVID-19 pandemic, as the shutdown of casinos has forced players to make bets online.
Twin River Making a Flurry of Moves
Twin River has made several deals with sports betting operators and other online casino operators. Their deal with Bally’s has given them access to a number of sports betting and iGaming skins, and almost all of them are now accounted for.
Twin River has nine casinos located throughout the country, but they have yet to own or operate a property in New Jersey. That will change with the acquisition of Bally’s, but they will be letting other companies take control of their online gaming skins.
theScore Expanding As Well
TheScore is already offering sports betting in the state of New Jersey through their deal with Monmouth Park. Mobile sports betting is also offered by theScore Bet in New Jersey.
After a successful run in New Jersey, theScore Bet recently announced that they are preparing to offer sports betting in both Indiana and Colorado. The company has received temporary approval in both states, and they should be up and running by the end of 2020.
IGaming is a new industry for theScore Bet to explore, but their familiarity with mobile applications should give them a chance to succeed in that market.
New Jersey Continues to Put up Huge Numbers
July sports betting handle in the state of New Jersey was up more than 25 percent from the numbers reported in July 2019. Almost 95 percent of all of the sports betting handle came from online operators, which is also the trend with casino numbers.
Atlantic City casinos were allowed to reopen during the July 4 weekend, but they are limited to the number of customers that are allowed in the doors. The iGaming industry has grown tremendously during this time, and that will continue to be the case moving forward.