The Associated Press is reporting today that the FanDuel Group has announced plans to open an online casino and an online sportsbook for New Jersey residents in time for the start of the NFL season.
The idea of a FanDuel sportsbook isn’t difficult to imagine considering the obvious crossover appeal between daily fantasy and actual sports betting. “FanDuel Casino” feels a bit odd on the tongue at first, but their plan to start an online casino also shouldn’t be a major surprise.
Casino gaming is a much a bigger moneymaker than sports betting anyways and online gambling is already legal in New Jersey, so why not?
Plus, FanDuel’s recent agreement to join forces with international gaming giant Paddy Power Betfair leaves the company well-funded and in the hands of people who are deeply experienced in all forms of online gambling. Tacking an online casino onto FanDuel Sportsbook will be a piece of cake for these people.
The newly-combined venture will see FanDuel launch an NJ online casino under the Golden Nugget’s gambling license and an online sportsbook under the sports betting license held by Meadowlands Racetrack.
According to Associated Press reports, software technology companies GAN and IGT will provide the platform for both the casino and the sportsbook.
GAN is a London-based outfit that has been active in online and real-world gaming for years. New Jersey’s recently-launched Ocean Resort online casino is also based on GAN technology. IGT is another major gaming solutions provider with some 12,000 employees located around the world.
Speaking to the news of a FanDuel sportsbook launch, GAN CEO Dermot Smurfit said this:
“Online sports betting ‘go live’ preparations for FanDuel are well advanced and we remain confident in launching integrated sports betting alongside our existing internet casino later this year.”
Between FanDuel’s massive customer database, Paddy Power Betfair’s extensive experience in online gambling and the expertise provided by GAN and IGT, FanDuel seems to have everything it needs to get off to a strong start in the competitive New Jersey market.
And a competitive market it will be. The NJDGE list of authorized gaming sites in New Jersey already consists of 25 individual gambling or poker sites active in the market right now. According to NJ.com, online gaming currently counts for about 10% of Atlantic City casino’s revenue.
Although FanDuel will be joining the online casino market a little late in the game, it is set to become of the first NJ sports betting sites. Regulations approved last month stipulated a 30-day waiting period before authorized sportsbook may take their operations online. That waiting period expired last week and no sportsbooks have gone online yet, but those will be coming soon.
On Monday, New Jersey regulators received five more sports betting applications from interested operators. Two of those applications were for in-person wagering, but three were for mobile (online) sports betting. Whether or not FanDuel’s sports betting partner Meadowlands was among those applicants remains uncertain.