bet365’s New 19,000 Sq. Feet Space in New Jersey
With last week’s news of bet365 acquiring a 19,000 square foot office space in Marlton, New Jersey, it is more than apparent that the company has some serious long-term intentions for their business in the United States. And even though their exact plans are unknown, we have used all the information that is currently available and have come up with a short analysis of the timeline of events as well as a prediction for their future aims.
After the US supreme court abolished the 1992 Professional and Amateur Sports Protection Act in May last year, states were given the permission to legalize sports betting at their own discretion. This meant that instead of illegally wagering an average of $150bln each year, Americans could finally start betting on their favourite sports without the fear of prosecution. Unsurprisingly this was seen as a great opportunity for expansion by providers of sport betting services across the globe. It did not take long before world-class online bookies like bet365 had set their sights on the US market.
Of all the states that have made sports betting legal or are on their way to legalizing it, New Jersey seems to have one of the strongest, if not the single strongest market in the United States. And it is no wonder, considering that it was New Jersey that made a couple of attempts to validate gambling on sports events, before eventually turning to the supreme court in 2018. Being well aware of these facts, it is exactly there that bet365 decided to concentrate their efforts. In order to gain a foothold, they struck a deal with the then newly open Hard Rock Atlantic City casino in the middle of June 2018. Since then, the British company has applied for Casino Service Industry Enterprise License and is well on its way to obtaining it. The launch date for their New Jersey venture is expected to be somewhere in June 2019.
They (bet365) have avoided paying silly prices to gain market share. They move into new geographic markets and start at zero, but in a few years will dominate that market. – Warwick Bartlett, CEO and Founder of GBGC
bet365’s Approach Towards the US Market
As preparation, bet365 have recently signed a long-term lease agreement for a 19,000 square foot office on 9000 Lincoln Drive East, Marlton, New Jersey. By rough estimates, their new space could hold up to 200 employees which speaks Cleary about the company’s goals in the USA. It is currently hard to say what bet365’s services would look like exactly, however, what we know is that they are going to only concentrate on the sports betting side of their business and are not going to feature their online poker platform.
All in all, bet365 ‘s moves are really well thought out and are preparing the way for a major expansion of their betting services on the US market. The two decades of experience that Denise Coates and her company have acquired are clearly showing through in their determined approach towards acquiring influence in New Jersey. It is yet too early to say what the future has in store for the British sports betting giant’s American endeavour. However, we expect them to first strengthen their grip on their foothold in New Jersey and become the dominant provider of sports gambling services in the state. Once they achieve this, Bet356 would probably use their influence to scale up their whole operation and include as many states as possible into their network. And whilst all this is pure guesswork based on their previous ventures, we would like to finish this article with a quote from Warwick Bartlett – the Chief Executive and Founder of Global Betting & Gaming Consultancy and a man with extensive experience in the online gambling business.