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Tipico, a leading sports betting operator in Germany, recently joined the growing list of European operators that have jumped the pond to enter the New Jersey online gambling market. While it is not a name that many online gamblers in America are aware of, the company has already set up offices in NJ on the Hoboken riverfront.
Tipico is partnered up with the Ocean Casino Resort and plans to launch its New Jersey operations in the fall of this year. The deal is not set in stone, however, as the New Jersey Division of Gaming Enforcement (DGE) still needs to approve it.
New Jersey was the first choice for Tipico’s US expansion due to the impressive numbers coming from mobile wagering in the Garden State. A statement from the company read, “New Jersey is the perfect state for Tipico to kick-start its business in the US because of its sophisticated mobile sports betting audience and mature regulatory and licensing environment.”
In 2019, the sports betting handle in New Jersey was $4.6 billion with $3.8 billion of that coming from New Jersey sports betting apps. Tipico is planning to launch both online sportsbook and online casino services in the state.
Tipico is Germany’s leading sports betting operator, according to its website, with over 1,200 land-based betting shops in addition to its online gambling services. Adrian Vella, the managing director of US businesses at Tipico, recently pinpointed what New Jersey players can expect in terms of technology.
“With nearly 15 years of European sportsbook experience, Tipico is one of the few on the B2C side of the industry using our own proprietary technology,” he said.
“We are excited to debut the new product our hardworking developers have put together in the US market.”
Tipico has added 12 employees in various roles to its team in the United States since December of last year. One of those was Stephen Krumbolz, the new head of business development and strategy.
Vella stated about that appointment, “Steve brings a wealth of sports, fantasy, and iGaming knowledge to Tipico, and we’re excited to have him on board as we explore partnerships, new business and market access opportunities throughout North America.”
While Ocean Casino opened in 2018, it has not made its mark in the New Jersey online gambling market. Tipico will be the second online sports betting skin for Ocean after William Hill US, which also runs the property’s land-based sportsbook. New Jersey casinos can have up to three online sports betting skins, so Ocean still has one more in pocket.
Terry Glebocki, the CEO of Ocean Casino Resort, said of the new partnership, “Ocean Casino Resort is thrilled to partner with Tipico, a highly respected name in sports betting, to bring a fully mobile sports betting experience to our digital players. We can’t wait to introduce sports fans throughout New Jersey to this cutting-edge technology and look forward to seeing them place their bets!”
If the Tipico deal is approved by the DGE, the company’s sportsbook app will become the 18th licensed online betting service in New Jersey.