Betfair Online Gambling Expanding in New Jersey

Published Wednesday, November 19, 2014 -
Betfair Online Gambling Expanding in New Jersey

The concept of a betting exchange is relatively simple but has been mired in controversy ever since the idea was introduced in the United Kingdom back in 2000. Traditional gambling operators said that because gamblers can now lay outcomes on the exchanges and that granting "anonymous" punters the ability to bet that an outcome will not happen is causing corruption in sports.

Now however the industry has accepted the form of betting and it has grown in the last fourteen years and is present in jurisdictions all over the globe. Betfair floated on the London Stock Exchange with a stock symbol of BET on 22 October 2010 at £13, valuing the company at £1.4bn ($2.2bn). In 2012, Betfair launched a fixed-odds betting sports betting service to compete with traditional bookmakers. In April of 2014 Betfair launched its exchange in Italy and then in August of 2014 it partnered with Net Entertainment to expand in the U.K. online gambling market there.

Betfair has been doing well in the USA where it linked its operations with Trump Plaza which closed in September and Caesars Entertainment. Now it was recently announced the firm has made a deal with the Golden Nugget Casino in New Jersey’s Atlantic City. Betfair US senior vice-president of gaming, Don Ryan commented on the arrangement, “We are very excited to move our operations to Golden Nugget Atlantic City, one of the premier resort destinations in New Jersey,” Ryan, continued, “With this relationship, Betfair and the Golden Nugget are well positioned to accelerate growth in 2015 and beyond.”

Vice-president of online gaming for Landry’s Golden Nugget Casino, Thomas Winter, also commented on the link, “We welcome Betfair to the Golden Nugget.” Winter added, “The combination of our complementary brands will allow Golden Nugget Atlantic City to cater to an even larger demographic of New Jersey online players.”



Related news

Return to Latest News