888 withdraws sports betting product from New Jersey
London-listed operator yanks 888sport in strategic pivot to Sports Illustrated sportsbook
888 has pulled its online sports betting product, 888sport, from the New Jersey market with immediate effect.
In a message to players, the FTSE 250 firm gave no reason for the sudden exit besides informing players access to the sportsbook – which launched in the Garden State in September 2018 to complement its casino and poker offerings – would no longer be available.
Customers with existing balances in their 888sport accounts are able to withdraw those funds or use them at 888casino and 888poker.
In addition, all bets which have already been made on sporting events will be honoured, however no new bets will be accepted.
Looks like 888 has exited the NJ Sportsbetting scene.
They won't be missed. pic.twitter.com/hgFJBYSgMA
— Captain Jack Andrews (@capjack2000) December 16, 2021
However, EGR has learned that 888 has pulled the product due to the impending launch in New Jersey of the Sports Illustrated (SI) Sportsbook.
888 has previously agreed to use its in-house betting platform to power the SI Sportsbook as its primary sports betting brand in the US as part of its deal with Authentic Brands Group (ABG), which owns Sports Illustrated.
The sports media outfit has almost 18 million social media followers while the website attracts more than 30 million monthly unique visitors.
At present, the SI Sportsbook is only live in Colorado, and the New Jersey pivot would be the largest state in which this fledgling sportsbook will operate.
888sport has struggled to make much of an impression in the highly competitive state of New Jersey, with Eilers & Krejcik Gaming estimating the brand’s market share to be a fraction of 1%.
888’s US director of business development, John Atkinson, confirmed the closure of the 888sport brand in New Jersey as part of preparations to roll out the SI Sportsbook in the Garden State.
“Since its launch in Colorado in September, SI Sportsbook’s differentiated wagering experience, which combines 888’s proprietary technology and one of the most influential sports media brands, has been extremely well received, with positive customer feedback from players across the state,” Atkinson said.
“We are now focused on launching SI Sportsbook in other states, including New Jersey, and are excited to share more details in the coming weeks and months,” he added.
Earlier this week, 888 sold its B2B and B2C bingo business to Broadway Gaming for what was widely viewed as a cut-price $50m, following a strategic review and transition towards core verticals of casino and sports betting.