Those familiar with online betting in Australia will know that PlayUp is a leading online betting company that provides sports betting as well as daily fantasy sports to a range of markets including Australia, New Zealand, and India.
However, not content with stopping there, they have now added another, potentially lucrative string to their bow of ever-increasing opportunities, having struck a deal to operate in the US with a prominent New Jersey-based company, that can help to take them to the next level, in their ambitious growth plans.
Sports betting is nothing new in New Jersey and indeed it was one of the first states in the US to be granted approval to offer online sports betting to customers and, as a result, the market size has continued to increase ever since.
The state of New Jersey currently has a total population that exceeds well over eight million people, where sports betting is particularly popular, the state of New Jersey is an ideal pedestal for PlayUp to start to gain traction in what is gradually becoming a highly lucrative market.
This population figure translates to $361 million being spent on sports betting in the state for the year finishing in November 2020 which is a significant increase of 28 percent from the previous 12 months.
Obtaining a license, however, was not as straightforward as it might sound. Indeed, one of the stipulations involved was having to link up with a US-based company and as a result, they put pen to paper on an agreement with FR Park Racing LP (FRP). This company is the sports wagering certificate holder and operator for Freehold racetrack. This is a joint venture Pennwood Racing with fellow US company Greenwood Racing Inc, Parx Casino, and Penn National Gaming Inc.
Matthew Cullen, who is the senior vice president of Interactive Gaming and Sports for the US company indicated the excitement surrounding the latest deal with PlayUp, eluding to the fact that this would be highly advantageous for both companies to create a substantial sport betting presence in the US, when they officially launch in the first quarter of 2021
Daniel Simic who is the Global CEO for PlayUp, echoed these sentiments, stating that this will further help them to build on the already successful foundations of their company which focuses strongly on technology innovation in the sports betting industry. Especially when factoring in the systems that PlayUp has in place, as well as the expertise, this can only help to lead to fast growth in the US market.
A company that focuses chiefly on innovative solutions in the betting and entertainment industry, PlayUp has scaled considerably over the years, since launching in 2009 when the online sector of the industry was really starting to capitalise on what was seen as virtually unlimited opportunities.
With their biggest market being Australia, they also operate in New Zealand, India, and now the US, while they hold further licenses in other major jurisdictions.
Operating an easily scalable and powerful cloud-based online betting platform, created to join together the most popular betting products in the world such as fixed odds and e-sports, while also offering daily fantasy sports, which includes some of the biggest prize pools in the world.
By joining forces with their most recent New Jersey partners, this has created potentially a wealth of opportunities to really expand into what can become a thriving US market. Already, one product presents significant traction - their fantasy sports technology.
In the US fantasy sports betting has been around for years and as such has a credible userbase of customers through platforms such as FanDuel, so even potential deals here could lead to explosive growth, courtesy of their most recent partnership.
Written for OnlineCasino-Australia.com by Martin Jones - Published on 18-01-2021