FuboTV’s Fubo Sportsbook has gone live in New Jersey as the company continues to look for strategic partners for its online wagering business.
FuboTV, which is primarily a sports streaming disruptor, made a splash within US sports betting by pledging to integrate digital wagering within its core broadcast product.
DAZN is another company exploring the intertwining of these two verticals, but it has not been plain sailing for either company, to such a degree that Fubo has actually placed its wagering business under strategic review.
Fubo said the New Jersey sportsbook launch reinforces its commitment to interactive wagering, although it no longer intends to explore this opportunity by itself due to the macroeconomic environment.
Online sports betting is not a cheap industry to enter. Indeed, many of the market leaders in the space have racked up huge losses to date on advertising, new state launches and acquiring players.
Speaking of acquisition, New Jersey residents who register with Fubo Sportsbook can claim a Bet $20, Get $150 offer with a special promotion code, as well as one month free of FuboTV.
“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,” said the company.
Fubo Gaming president Scott Butera: “As one of the largest and most established sports betting markets in the US, New Jersey will allow Fubo to analyse and efficiently develop the most engaging product features that are focused on driving streaming customers into wagering.”
According to Fubo, users in the Garden State will soon be able to experience Fubo Sportsbook’s proprietary Watch & Wager feature, which leverages FuboTV’s first-party user data to recommend relevant bets based on what viewers are streaming.
The Fubo Sportsbook app is available to download on iOS or Android and went live in New Jersey via a market-access agreement with Caesars Entertainment and following soft-launch approval from the New Jersey Division of Gaming Enforcement (NJDGE).
The company is already tied to New Jersey via its multi-year partnership with the New York Jets, who play their NFL home matches at the MetLife Stadium in the Garden State.
Last year, Fubo opened a 7,000-square-foot lounge at the arena, which will be expanded for the 2022 season to include a mobile sports betting lounge.
“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,” said Scott Butera, president of Fubo Gaming.
“As one of the largest and most established sports betting markets in the US, New Jersey will allow Fubo to analyse 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,” he added.