American daily fantasy sports operator DraftKings Incorporated reportedly made history on Wednesday afternoon by becoming the first to launch a mobile sportsbetting service for aficionados in the eastern state of New Jersey.
Debuted in partnership with Resorts Casino Hotel:
According to an August 1 report from the Reuters news service, Boston-headquartered DraftKings Incorporated premiered its DraftKings Sportsbook app in ‘The Garden State’ in partnership with Atlantic City’s Resorts Casino Hotel, which is operated by Mohegan Gaming and Entertainment.
Premiere follows PASPA repeal:
Reuters reported that the debut followed May’s decision by the United States Supreme Court to invalidate the Professional and Amateur Sports Protection Act (PASPA) along with New Jersey’s subsequent launch of land-based sportsbetting services.
Service currently invite-only:
The news service reported that the Apple and Android-friendly DraftKings Sportsbook innovation allows users to login utilizing their existing accounts with DraftKings Incorporated and automatically calculates and informs users just how much they stand to win from a particular wager before casting the bet.
Reuters moreover explained that the customizable app offers a range of wager types including real-time bets and translates bookmaker jargon such as ‘money line’ into the more understandable ‘who will win?’. Currently an invite-only service, the DraftKings Sportsbook furthermore reportedly allows users that have changed their minds about a particular wager to cancel the gamble or immediately cash out.
Geo-location to be utilized:
For its part, the Bloomberg news service reported on Wednesday that the new mobile innovation from DraftKings Incorporated comes complete with a $0.10 minimum stake amount and utilizes a state-approved geo-location service to ensure that users can only place wagers while in New Jersey.
Market possibly worth $500 million a year:
Finally, Bloomberg cited research from global gaming consultancy Eilers and Krejcik Gaming as predicting that the widespread uptake of mobile sportsbetting could see bookmakers in New Jersey double their annual revenues to reach as high as $500 million.