Bet365 is about to begin operations in New Jersey and the online betting operator wants to have a big launch.
The company recently announced that it has signed a deal with EML Payments Limited.
The agreement will last several years and give Bet365 access to EML services. This mostly comes in the form of a branded prepaid card that will operate in New Jersey.
This is a big deal mostly because these prepaid cards will allow gamblers an easy way to pay for their wagers. It also goes the other way, giving winners a chance to get their winnings faster.
Considering that this isn’t the first time that EML has worked with the gambling industry, this reloadable prepaid card program will work well for Bet365 customers. EML has extensive prepaid services experiences with major gambling operators from all over the world.
The last operator that EML signed a deal with was PointsBet who is a much smaller betting operator compared to Bet365. PointsBet also wanted a foothold in the New Jersey and signed up with EML. The main difference with the Bet365 and EML partnership is based on the agreement, the two companies will work together if Bet365 ever expands to other US states.
The deal does still require a rubber stamp from the local regulators but both companies are optimistic it will launch mid-2019.
With New Jersey legalizing sports betting in 2018, a flood of sport betting operations flowed into the state. According to data, more than $2 billion in wagers have been made so far. Most of these were done digitally which is a lot more convenient. Bet365 is arriving in New Jersey pretty late and it will have quite a task on its hand in playing catch up to the now more established operators in the Garden State’s betting market.
For its opening salvo, the company has already leased out a long-term office in the Two Greentree Center in Marlton, New Jersey. It has 19,000 square feet of space so there should be enough space for any potential sports book operation.
Additionally, all online sports bettors need to have a partner in the state of New Jersey. This could either be a casino or a racetrack, as long as it is authorized to conduct wagering activities. For its partner, Bet365 chose Hard Rock Hotel & Casino Atlantic City.
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