The first online sportsbook is now open in New Jersey.
In a press release, DraftKings co-founder and CEO Jason Robins said of the debut:
“I am excited to begin this new chapter in our story by officially launching what I believe to be the most innovative, mobile sports betting product in the U.S. We have put immense thought and significant resources behind the development of DraftKings Sportsbook and I’m confident that sports fans in New Jersey will enjoy using it to make the experience of watching the games even more interesting and thrilling.”
With this announcement, DraftKings Sportsbook is the first to market with an online NJ sports betting product. Other companies seemed to be closer than the daily fantasy sports titan, but DraftKings (and its land-based partner, Resorts) crossed the finish line first.
What will you see at the DraftKings Sportsbook?
Now that DraftKings is available, New Jersey residents may wonder what they will see on the app. Thankfully, Legal Sports Report got to take a look last week. Here’s what they saw:
- The classic DraftKings look. Both the black and green color scheme and the DK logo are present on this new app.
- A betting carousel. Rather than forcing players to navigate through an onerous and confusing interface, the DraftKings app will suggest bets to each player based upon his or her specified preferences or player history on daily fantasy sports.
- Easier-to-understand lingo. Since sports betting is expanding into new territories, DraftKings wisely decided to do away with some of the more traditional but obscure terms found in most sportsbooks. So, for instance, a statistic like the moneyline will be listed as “who will win.”
- Flexibility. Almost any type of bet is available, and players can wager as little as 10 cents per bet.
Live ticket system may change sports betting entirely
There is one other feature that the sneak peek revealed. The DraftKings Sportsbook app will employ a live ticket system that will allow players to cash out their tickets earlier than planned.
Essentially, this system is a massive in-game betting structure. Players will have the ability to cash out their tickets for a certain amount at any point before the sporting event settles.
The amount will fluctuate based upon the bet’s chances of winning. Bettors will be able to use the system to avoid any kind of last-second losses.
On the other hand, the cashout amount will be lower than the true prize. So, the players will have to pay a premium to lock up a win.
Nevertheless, this system could be one of the innovations to push sports betting into a new era. DraftKings will likely have competition soon, but today belongs to the black and green.