Easter Sunday marked a special day for the NJ online sports betting market, as a brand new betting operator launched in the state.
According to egr.global, Prime Sports made its soft launch over a period of three days, operating under a license of Ocean Casino Resort from Atlantic City.
The operator launched a web browser version of its betting platform first, with betting apps for iOS and Android launched slightly later and now available to players across New Jersey.
For Prime Sports, New Jersey marks the second market they have entered, as the operator already runs its betting platform in Ohio.
This makes Prime Sports the 19th active betting app in the Garden State, following the departure of a number of others for a variety of reasons.
Prime Sports Set to Revolutionize Sports Betting
New Jersey is one of the longest standing iGaming markets in North America, and while it has been a success story for some, others like Barstool and Sports Illustrated have decided to leave the market following lack of success.
Despite these departures and the stiff competition, Prime Sports appears undeterred, as they enter the new market with big claims.
Prime Sports Executive Chairman Joe Brennan, who took an active part in the efforts that led to the Supreme Court lifting PASPA and allowing states to regulate their own sports betting operators, claims he is in the business of changing the betting industry from the inside out.
According to Brennan, the operator will be looking to do things a little differently, and this should include accepting bets from “sharps,” accepting large wagers, and a reduced wig compared to other operators.
Limitations like these, which have often been imposed by a number of bigger operators, have often been criticized by players and regulators alike.
Prime Sports, along with a number of sports betting exchanges, are looking to change the practices and allow sharp bettors to ply their trade in New Jersey without restrictions.
A Mountain to Climb for the New Operator
Prime Sports entered the market without too much pomp or advertising, and with some great promises, but there is a long way to go before such promises can be made a reality.
The New Jersey online gambling market is one of the most active in the country, with DraftKings and FanDuel controlling over 70% of the overall sports betting liquidity.
The two sites, that have been dominant forces in US igaming since its inception, show no signs of slowing down, and continue to dominate in NJ each and every month.
Even the “smaller” online gambling operators like Caesars and BetMGM are powered by massive international gaming giants, and it will be a big task to catch up to these and capture even a small share of the entire market.
Yet, Prime Sports is entering New Jersey with big hopes and plans, and some very real ideas on how to do it, as their business model seems to be similar to that of Pinnacle Sportsbook on the international stage.
By allowing big bets, sharps, and offering a reduced wig, Prime Sports could indeed bring in plenty of customers, but the real question is whether a business model like this is sustainable in the long run.
All of that remains to be seen, as Prime Sports takes on a massive challenge of competing with industry giants and building a product that will significantly differ from most of what’s already on offer in New Jersey.
