ONLINE NEWS Stars Group pledges ‘premier’ sports betting in New Jersey T
he Stars Group has launched its BetStars sports wagering brand in New Jersey and
pledged to leverage its acquisition of Sky Betting & Gaming to establish the service as a “premier product” in the US state. BetStars goes live through the
company’s partnership with Resorts Casino Hotel which also covers Stars’ existing online poker and casino offerings available via PokerStarsNJ and PokerStarsCasinoNJ. Stars will initially offer BetStars on mobile, with the brand set to compete with other mobile sportsbooks in New Jersey run by Borgata, DraftKings, FanDuel, PlaySugarHouse and William Hill.
BetStars will operate on Stars’
proprietary technology and player account management platform, which will provide customers with a single account with various online and mobile depositing and withdrawal options. Punters can place pre-match and in-game wagers via the BetStars platform and will also have the option to cash out of their bet. Matt Primeaux, Stars’ senior
vice-president of strategy and operations for the US, said: “We have successfully launched BetStars in regulated markets across Europe and look forward to expanding and enhancing our New Jersey BetStars offering, including through leveraging the Sky Betting & Gaming acquisition following approval from the UK
BETDAQ launches Streaming API
B
ETDAQ has launched a new Streaming API
service for its commercial partners that automatically provides instant pricing information across an increased range of markets. The product improvements remove the need for customers to pull the data via manual requests thanks to an always-on system that constantly streams a tailored selection of updates on price movements and available volumes. BETDAQ has utilised the Streaming API push technology on its main dotcom website since 2016, ensuring traders and retail clients always have the most up-to-date pricing information. Full connection to BETDAQ’s ultra-reliable Commercial API feed allows sportsbook operators to take advantage of automated risk management and hedging. The platform processes 18 billion orders annually and has gone a record 500+ days without an unplanned outage. BETDAQ’s commercial partners can also benefit from the platform’s growing liquidity, which has been significantly boosted since the exchange’s permanent switch to a 2% commission structure that has driven player and liquidity partner acquisition. Alan Casey, BETDAQ Commercial Manager, said: “The launch of
Streaming API takes the BETDAQ Commercial API feed to the next level, ensuring further efficiencies as well as a greater reduction in overheads and resource requirements for our sportsbook partners. The successful introduction of 2% commission has been responsible for a marked uplift in trading volumes that has resulted in improved prices and ever-increasing liquidity levels. There has never been a better time to become a Commercial API partner.”
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Competition and Markets Authority, to provide a premier product and experience to our customers in this new and developing market.” In July, Stars confirmed it had
completed its acquisition of Sky Betting & Gaming in a deal worth $4.7bn (£3.58bn/€4.02bn). Stars has this year also finalised a deal to purchase CrownBet and William Hill Australia as part of its wider growth plans. In August, Stars cited its merger and acquisition strategy as a key driver behind year-on-year financial growth in the second quarter. Sales rocketed by 35% to €412m and earnings before interest and deductions improved by 15% to $168m.
DraftKings CEO backs DFS to thrive
D
raftKings CEO and co-founder Jason Robins has insisted that the growth of sports betting in the US
will not cannibalise daily fantasy sports in the country. DraftKings was the first operator to
launch an online and mobile sportsbook in New Jersey last month, in partnership with Kambi and Resorts Casino Hotel in Atlantic City. However, just days after the launch, DraftKings continued to expand its DFS operations by striking a partnership with sports bar and restaurant chain Buffalo Wild Wings, which had earlier confirmed to
iGamingBusiness.com that it was exploring opportunities to offer sports wagering. Robins said that despite concerns in
some quarters that DFS could be pushed out by sports betting across the US as the practice is gradually regulated over the coming years, “for now, I think it’s the opposite” with DFS “still growing”. He added: “It’s a halo effect we’re seeing with sports betting and [DFS], not just in New Jersey but we’re seeing a big spike in customer re-activation for [DFS] across the board. The world changes quickly, and
it’s hard to predict which way things are going to swing long-term. But I think [sports betting and fantasy sports] are complementary. “Most people I know who play fantasy
also bet. No one really sees one as a placement over the other. I think more people on our platform will create more activity.” Robins added that DraftKings’ sports
wagering operations are significantly ahead of expectations: “We’re about 300 per cent ahead of where our target was,” he added. “It’s only New Jersey that has mobile betting now – two others have retail – I think it’s still largely black market.”
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