Tipico Moves into New Jersey Mobile Sports Betting Market

Tipico Moves into New Jersey Mobile Sports Betting Market
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Another mobile sportsbook app is coming to New Jersey.

Tipico, the leading sports betting provider in Germany, announced on Tuesday that it has received conditional approval from the New Jersey Division of Gaming Enforcement (NJDGE) to bring its mobile sports betting platform to New Jersey. Tipico will officially make its debut in the U.S. market with the New Jersey launch.

With wagering on live sports markets across the globe and odds managed by its in-house trading team, sports betting on Tipico’s app will be available 24/7, according to a news release.

“At Tipico, we knew that New Jersey would be the perfect state for us to kick-start our business in the U.S. because of its sophisticated mobile sports betting audience and mature regulatory and licensing environment,” Adrian Vella, Tipico’s managing director of U.S. business, said in the release. “With an incredible pool of local talent in the New York metro area, we’re thrilled to establish our headquarters in Hoboken and continue expanding our team.

”We’ve dedicated significant time and energy to build a long-term foundation for the U.S. market, and today marks an important milestone in that journey for Tipico.”

Tipico entered into an agreement in late July with NetEnt for the launch of its online casino gambling platform in New Jersey. NetEnt’s portfolio of video slots and table games, like Divine Fortune, will be available to Tipico players.

Ocean Casino & Resort Partner

Tipico will offer bonuses and promotions for New Jersey customers at launch, which the company says is imminent.

“We are very excited to be expanding our mobile sportsbook offering to a new international market,” said Joachim Baca, CEO of Tipico Group Ltd. “At Tipico, we are truly passionate about enhancing the thrill of sport, bringing fans even closer to the game they love. Regulatory approval from the state of New Jersey is another significant step toward introducing U.S. consumers to our unique sports betting platform.”

Tipico has also partnered with Ocean Casino and Resort in Atlantic City for New Jersey licensing.

US Headquarters in Hoboken

The company has its U.S. headquarters and operations in Hoboken, New Jersey. Other sports betting companies that have offices in Hudson County include DraftKings, which is also in Hoboken, while FanDuel and William Hill have offices in neighboring Jersey City.

It’s a great time to be joining the New Jersey sports betting market. In August, New Jersey reached a new U.S. record for total handle in a single month — $668 million. Nevada previously set the standard with $614.1 million in November 2019.

In addition, the online handle for the top New Jersey sportsbooks in August was $601.9 million an increase of 103.5% over July’s $295.8 million and up 141.5% from August 2019. The August figure is a record for monthly mobile sports betting handle in New Jersey. Mobile was 90% of the total sports handle in August, according to the state figures.