FuboTV has announced the debut of its Fubo Sportsbook in New Jersey after meeting all requirements of the state’s Division of Gaming Enforcement (DGE) and completing a soft launch.
According to the company, it is the first integrated sportsbook that boasts of a “watch and wager” model that allows live streaming of sports games while simultaneously showing betting odds for sports fans to wager on.
This innovation is expected to consolidate Fubo’s presence in the highly competitive New Jersey sports betting market as the 2022-23 NFL season prepares to begin.
With the launch, sports fans aged 21 and above in New Jersey will gain access to a variety of betting markets covering the NFL and other professional and collegiate sports events just by downloading the app or using the web version while being connected to FuboTV. Meanwhile, bettors who do not subscribe to the streaming service can still access the odds on the sportsbook, however, it will not pop up on their screens as they stream the game.
First-time users will also enjoy a promotional sign-up offer that guarantees $150 on a $20 wager with a month-free subscription to FuboTV. The launch in New Jersey makes it the third regulated state after Iowa and Arizona the Fubo Sportsbook is active.
Scott Butera, President of Fubo Gaming, expressed his delight at the launch.
“Launching Fubo Sportsbook in New Jersey is an important early step in the development of our integrated platform, which includes a recently improved user experience and enhanced product capabilities,” he said.
“As one of the largest and most established sports betting markets in the U.S., New Jersey will allow Fubo to analyze and efficiently develop the most engaging product features that are focused on driving streaming customers into wagering. New Jersey is known for having deeply passionate sports fans, who, we believe, will enjoy our one-of-a-kind immersive sports wagering and viewing experience in time for football season.”
Co-founder and CEO of FuboTV, David Gandler believes that the integrated platform will deliver the best viewing and gaming experience for customers.
“Today’s launch marks an important milestone for Fubo Sportsbook. Our book is now available in three states, including one of the top wagering markets in the country, just 10 months after launching our first. We remain committed to interactive wagering and continue to explore potential partnership opportunities for Fubo Sportsbook,” he said.
Fubo Gaming was able to break into the New Jersey market by entering into a partnership with Caesars Entertainment in March 2021. The agreement also gives it market access in other key states such as Indiana, Mississippi, Missouri and Louisiana. In addition, its launch into the state was boosted by the previous multi-year partnership it had with the New York Jets representing the NY/NJ area. The partnership saw Fubo open a 7,000-square-foot sports lounge complete with a full-service bar, live-action screens and an outdoor patio that allows live viewing of the Jets.
“We are thrilled to fully activate our partnership with Fubo, providing Jets fans access to the Fubo sports betting experience on the app and in the Fubo Sportsbook Lounge as we kick off the 2022 Jets season,” said Jeff Fernandez, vice president of business development & ventures at the New York Jets.
“With the official launch of Fubo Sportsbook in New Jersey, the Fubo Lounge and Fubo’s wagering app will provide an opportunity for our fans to responsibly gamble on sporting events from one of the best experiential settings in the NFL.”
Despite being under strategic review as it looks for partners to help with expansion, Fubo Sportsbook continues to power on as it looks to strengthen its brand presence.