New Jersey has unceasingly pushed the envelope in terms of sports betting in 2018, and one of its top sportsbooks is continuing that trend.
New sports betting provider and well-established daily fantasy operator DraftKings announced its plans for the $2.5 Million DraftKings Sports Betting National Championship.
The new contest will take place in January and feature over $2.5 million in guaranteed prize money as the bookie looks to keep momentum in the early goings of operation.
New Jersey’s new sports betting industry enjoyed a record September generating $23.9 million of the $281.6 million in revenue generated by gaming outlets.
DraftKings led the way with $8.5 million in revenue through partnerships with Resorts Digital, while FanDuel’s Meadowlands Racetrack sportsbook pulled in $7.2 million.
The National Championship Event will be competed for on DraftKings mobile app which is, obviously, only available to bettors and users within state borders.
The event will take place from January 11-13 coinciding with the Divisional round of the NFL playoffs. There will also be plenty of NBA, NHL and other favorite winter sports to choose from as competitors will attempt to maximize their payouts.
While the $10,000 buy-in may seem a little discouraging for lower budget players, they will have the opportunity to gain a ticket with special DraftKings daily fantasy contests. There will also be several chances to win free entry to those that keep up with DraftKings on social media, etc.
Players will begin with a bank of $5,000 and wager on sports for three days. The top earner will be given the top prize, a massive $1 million, on top of their winnings.
The top 25 places will receive prize money with the prize table looking something like this:
|Place Finished||Prize Money|
The new championship is no doubt meant to emulate such well-known sports betting competitions as the Westgate Superbook’s Las Vegas SuperContest.
For an entry fee of $1,500, bettors and football experts strive throughout the NFL season to finish in the top of the rankings and take home a $1.4 million prize.
With some Vegas connections already established it’s no surprise that DraftKings is looking to Sin City as a model to build on.
For example, DraftKings recently told Gambling.com it had enlisted the services of legendary oddsmaker and sportsbook operator Johnny Avello from the Wynn Las Vegas.
"(Johnny will serve as) a director in the rapidly growing sportsbook operations team. With more than three decades of experience in gaming, Johnny is widely respected throughout the sports book industry as an innovative, forward-thinking leader and an early proponent of mobile sports betting.”
Mobile betting is indeed a key part of DraftKings’ early competitive edge in the Garden State as its been available since early August along with online betting.