Prime Sports soft launches in New Jersey following last year’s Ohio debut
High-volume, low-margin challenger bookmaker goes live in its second state by pledging to take on both sharp and recreational bettors
Prime Sports has soft-launched in New Jersey as the operator continues to expand in the US following its debut in Ohio last year, with further state penetrations in the offing.
The staggered launch in New Jersey was confirmed on X, formerly known as Twitter, last week by executive chair Joe Brennan Jr, with the brand expecting to be fully operational in the Garden State by Wednesday, April 3.
Might be a bit late, but it’s just in time.
See you Easter Sunday @primesportsbook, New Jersey. pic.twitter.com/OiuePwyvRw
— Joe Brennan Jr (@joebrennanjr) March 28, 2024
In accordance with New Jersey regulations, Prime Sports could only be operational for eight hours on its first day, March 31, and on its second day, April 1.
The sportsbook is operational for 14 hours today, April 2, and will be live for a whole day from day four onwards.
Prime Sports is a high-volume, low-margin bookmaker – akin to Circa Sports or Pinnacle – that promises to post the highest-available max amounts and offer high-spending bettors a service similar to the offshore market.
The operator is powered by supplier Plannatech, the same company behind offshore giant Betcris. Bosses say customers won’t face restrictions and that arbers are welcome.
Brennan wrote on X on April 1: “If you’re betting offshore because you can’t get decent limits on your bets, or you’ve been turned away by US-licensed sportsbooks, come give us a shot. Everyone can bet the max amount on any market, and we won’t close your account if you win. Guaranteed.”
Pro sports bettor Gadoon ‘Spanky’ Kyrollos was the first person to place a bet once the website launched on Easter Sunday. The $2,500 wager on Charlotte Hornets at +15 on the handicap subsequently won.
The operator went live in the Garden State through a partnership with Ocean Casino Resort in Atlantic City.
This is Prime Sports’s second state following its rollout in Ohio last September. A third state launch, in Kentucky, is “coming soon,” according to the website.
In February, Prime Sports handled more than $10m in wagers in Ohio for the first time. However, $10.6m was paid out in winnings, meaning the firm lost $583,149. However, Prime Sports spent the lowest amount on promotions at just $938.
Since launching in September, the operator has accepted $32.7m in wagers in Ohio.
Prime Sports is the ninth-largest operator in Ohio by handle, being beaten marginally by Hard Rock Digital, which took in $11.8m in wagers in February. The leader was FanDuel ($222.2m), narrowly ahead of DraftKings ($222m).
The most recent figures for online sports wagering handle and revenue in New Jersey, released by the New Jersey Division of Gaming Enforcement, showed a decline in February compared to a record January.
Online sports wagering handle totaled $1.04bn, a massive yet expected drop off from the $1.67bn recorded in the opening month of the year due to there being no NFL apart from the Super Bowl.
Total revenue for sports betting also fell by more than $100m from $170.8m in January to $67.6m in February.