SBTech NJ Sports Betting And NJ Online Sportsbooks
As the abbreviated name implies, SBTech is an international online sports betting technology and software solutions provider.
The company provides its sports betting software and services to more than 50 partners worldwide. However, SBTech has had a busy start to 2018. It now appears poised to become leaders in the online side of the emerging US sports betting market.
SBTech currently employs more than 1,000 people. It operates in more than 15 government-regulated sports betting markets around the world. It has international offices in eight of those regions. Plus, the company has more than 10 years experience in the online sports betting technology sector.
SBTech sports betting software
SBTech software essentially offers clients a fully managed online sportsbook.
It’s user-friendly. It offers more than 100 different bet types on more than 30 varieties of sports. Plus, it covers more than 6,000 live betting events every month. The software platform runs on a multicurrency and multilingual system. It also includes an easy-to-use interface.
Additionally, it’s content management system offers clients complete control the over content on their sites.
SBTech prides itself in offering a sports betting platform that complies with all local regulatory requirements. The company works closely with authorities and operators to that end.
SBTech CEO Richard Carter said the chief goal is to be the global leader in online sports betting technology:
“There are very few companies which can meet the challenges and offer the rewards of successfully operating in the global online gaming industry. The constant ebb and flow of regulatory change, the pace of technological innovation and the complexity of operating across multi-jurisdictional territories represent constant challenges, but at SBTech we embrace them, and nothing is neglected on our quest to be the best. For us, this is not just a job. It’s who we are.”
NJ sports betting
In a 6-3 decision released May 14, 2018, the U.S. Supreme Court declared the Professional & Amateur Sports Protection Act (PASPA) unconstitutional. The decision lifted a federal ban on sports gambling almost everywhere outside of Nevada.
Plus, it gave all 50 states the right to govern sports betting inside their borders individually.
A day later, SBTech claimed it was committed to bringing its sports betting and gaming solutions to the US market.
SBTech sent out a press release welcoming the historic Supreme Court ruling. It also said the company looked forward to working with key stakeholders to create a transparent, safe and responsible environment for Americans to bet on sports.
Of course, in anticipation of the decision, SBTech had already been making inroads into potential US sports betting markets.
Connecting with GAN
In January 2018, the company inked a deal with online gambling software provider GAN.
GAN already provided free-to-play and real-money online gambling solutions to more than 70 US land-based casino customers.
It is the software provider for the regulated real-money Betfair online casino in New Jersey. Plus, it would soon announce plans to provide the same services for Ocean Resort Casino. Ocean Resort is the re-branding of the failed $2.4 billion Revel Casino Hotel, which opened June 28.
SBTech’s strategic relationship with GAN has it supplying online sports betting services to GAN’s portfolio of US casino clients. The idea is to integrate SBTech’s sports betting solutions with GAN’s proprietary GameSTACK enterprise software platform.
It’s just a matter of time for SBTEch to enter the NJ sports betting market.
Connecting with Resorts Atlantic City
Earlier in July, SBTech continued its pursuit of sports betting in the US and signed a partnership with Resorts Casino in Atlantic City. This deal followed an earlier one made between Resorts and DraftKings, the daily fantasy sports operator.
The Resorts-SBTech deal covers the casino’s land-based operations, however. DraftKings will most likely only have an online presence. SBTech will power the physical sportsbook at Resorts.
SBTech eyes industry leadership
At the time, SBTech and GAN both hoped the deal would put them in position to lead the US online sports betting market.
Carter said the goal was to be the among the first providers to take legal US sports betting outside of Nevada:
“This partnership is a logical step for SBTECH and allows the company to rapidly introduce its sports betting technology and services to a wide range of US casinos with a view to being the first provider to settle a US sports bet online and on-property in states such as New Jersey and Pennsylvania, in close collaboration with GAN.”
SBTech also joined the American Gaming Association’s sports betting task force in an effort to support the US gaming industry’s efforts to regulate sports betting. Plus, it would help create the best possible legal framework for providers and gamblers alike.
When SCOTUS finally released its decision, the door to sports betting opened up across the country. SBTech was ready. Plus, it immediately continued to expand into US markets, particularly those poised to become the first to legalize and regulate sports betting.
SBTech, Churchill Downs and Golden Nugget
Just two days after the decision, SBTech inked a new deal. The deal will see it provide its integrated technology platform for sports betting to horse racing giant Churchill Downs Incorporated in New Jersey and beyond.
Carter said Churchill Downs represented a great opportunity for SBTech:
“Churchill is not only an iconic brand with the largest online horse race wagering business in the US, but it is also one of the fastest-growing gaming operators in the nation. The combination of Churchill’s leading presence in the US market, coupled with SBTech’s deep expertise in regulated sports betting markets globally, makes for an ideal partnership as we enter this monumental chapter in the US gaming industry.”
Plans are for SBTech to work in partnership with Churchill Downs. It’s all in an effort to deploy cutting-edge sports betting software platform to its existing audience. But only where government regulations will allow. The first of those markets will be New Jersey. It launched legalized sports betting in mid-June.
Churchill Downs has already signed a deal to launch an online gambling and sports betting site under the Golden Nugget NJ online gambling license. It will be employing SBTech software on it.
SBTech has its eye on rapid expansion inside the US sports betting industry. Plus, it is now singularly focused on going wherever US sports betting regulation takes it.