DraftKings, Resorts casino go live with N.J.'s first legal online sports betting

Kambi accepts first U.S. wagers following ground-breaking DraftKings Sportsbook debut. Kambi becomes first sportsbook supplier active in New Jersey’s online sports betting market after passing preliminary licensing process. Kambi has created history by becoming the first sports betting supplier to process online wagers in the post-PASPA U.S. market, following the eagerly-anticipated launch of the Kambi-powered DraftKings Sportsbook in New Jersey.

Resorts Casino Hotel and DraftKings Inc. on Monday became the first companies to offer online and mobile sports betting legally in New Jersey.

A week after receiving state regulatory approval, the companies launched DraftKings Sportsbook - an app and website offering sports fans the ability to place multiple and live in-game bets on major U.S. and international sports.

"We have put immense thought and significant resources behind the development of DraftKings Sportsbook and I'm confident that sports fans in New Jersey will enjoy using it to make the experience of watching the games even more interesting and thrilling," Jason Robins, CEO and co-founder of DraftKings, said in a statement on Monday.

Officials with Resorts Casino Hotel could not immediately be reached to comment on Monday.

The companies won a heated race to be the first to offer mobile and online sports betting in New Jersey.

State regulators are considering applications from several other companies and could soon approve additional online providers. Four casinos and two horse tracks currently offer in-person sports betting.

DraftKings is a global sports technology and entertainment company headquartered in Boston and offering daily fantasy sports contests across 11 professional sports in eight countries.

The company was founded in 2012 by Robbins, Matt Kalish and Paul Liberman.

Gov. Phil Murphy signed a law earlier this year legalizing bets on sports games, both online and at the state's casinos and racetracks.

The move capped the state's nearly decade-long battle to tap into a market that has largely existed only in Las Vegas and through illegal bookies.

In May, the U.S. Supreme Court threw out a federal ban on sports gambling that had been in place for more than 25 years.

The ruling has allowed any state to legalize sports gambling. New Jersey is the second state to do so.

Other states -- including New York and Pennsylvania -- are currently mulling sports-betting laws.

https://www.nj.com/news/index.ssf/2018/08/online_sports_betting_begins_legally_in_nj_as_comp.html

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Kambi accepts first U.S. wagers following ground-breaking DraftKings Sportsbook debut

Kambi becomes first sportsbook supplier active in New Jersey’s online sports betting market after passing preliminary licensing process  

Kambi has created history by becoming the first sports betting supplier to process online wagers in the post-PASPA U.S. market, following the eagerly-anticipated launch of the Kambi-powered DraftKings Sportsbook in New Jersey. 

Yesterday’s ground-breaking launch comes after Kambi and DraftKings, along with DraftKings’ land-based licensing partner Resorts Casino, were approved for an online sports betting Transactional Waiver from the New Jersey Division of Gaming Enforcement (DGE). 

A Transactional Waiver is the first regulatory step to securing a full licence in New Jersey and acts as a preliminary permit to operate within the state until the full licensing process has been completed.

 The approval of the Transactional Waiver followed a thorough vetting process, with the DGE scrutinising areas such as product and technology to ensure Kambi complied with the regulator’s procedural and technical standards.

Until now, the DGE had yet to approve a Transactional Waiver for online sports betting, with the regulator having only issued land-based operations with a similar permit.

 The fact Kambi is the first, and so far only, supplier to launch an online sportsbook service in partnership with an operator is borne out of the company’s vast experience in regulated markets, transparent corporate structure and continual focus on matters concerning probity and integrity.

 The release of the DraftKings Sportsbook comes just six weeks after Kambi and DraftKings signed an agreement to launch a U.S.-facing product, demonstrating the speed at which Kambi enables customers to go to market.

 As per state regulations, yesterday’s launch has activated a five-day ‘soft play’ phase, during which time certain limitations must be applied to the product, such as scope of offer, opening hours and number of concurrent users.  

 Kristian Nylén, Kambi Chief Executive Officer, said: “This launch marks an exciting new chapter for Kambi, creating history by becoming the first sports betting supplier to process online wagers in the U.S. following the repeal of PASPA.

 “In addition, to so quickly meet the New Jersey regulator’s online standards and requirements is also pleasing, as the achievement enhances our position as the secure and quality choice for operators seeking a sportsbook partner.”

   

Gerard Starkey                                                          

Head of Content

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