Fubo Sportsbook may be under strategic review, but the company is still strengthening its position with a full launch in New Jersey just in time for the NFL season.
Even though the company is openly courting partners, the sportsbook is continuing its day-to-day operations and expansion. That includes its New Jersey launch and its accompanying partnership with the NY Jets, which play in New Jersey at MetLife Stadium. The Jets and Fubo Sportsbook signed the partnership last fall.
New Jersey third US state for Fubo Sportsbook
“Launching Fubo Sportsbook in New Jersey is an important early step in the development of our integrated platform, which includes a recently improved user experience and enhanced product capabilities,” said Scott Butera, president, Fubo Gaming. “As one of the largest and most established sports betting markets in the U.S., New Jersey will allow Fubo to analyze and efficiently develop the most engaging product features that are focused on driving streaming customers into wagering. New Jersey is known for having deeply passionate sports fans, who, we believe, will enjoy our one-of-a-kind immersive sports wagering and viewing experience in time for football season.”
This is the third state where Fubo Sportsbook has launched, joining Arizona and Iowa. Fubo is operating on the Caesars sports betting license in New Jersey. As Butera noted, the app works in tandem with FuboTV to create an integrated experience between bettor and viewer. At an investor presentation last month, FuboTV highlighted some of these features which might be compelling for an investing partner interested in getting into the sports betting business.
“An integrated wagering platform, offering both live video and a sportsbook, is, we believe, the best gaming experience for consumers,” said David Gandler, co-founder and CEO, FuboTV. “Today’s launch marks an important milestone for Fubo Sportsbook. Our book is now available in three states, including one of the top wagering markets in the country, just 10 months after launching our first. We remain committed to interactive wagering and continue to explore potential partnership opportunities for Fubo Sportsbook.”
NY Jets partnered with Fubo Sportsbook, WynnBET
The NY Jets are in an interesting spot with its two betting partners, Fubo Sportsbook and WynnBET. One is not licensed to operate in New York, but is now live in New Jersey. The other is live in both states, but rumors are swirling it is looking to sell off its New York sports betting license.
WynnBET has already stated its plans to scale back some of the scope of its marketing campaign, particularly in New York. There has been no public announcement of a sale of the license yet.
Fubo Sportsbook intends to stay operational for now, regardless of the strategic review. That includes a sports betting lounge on-site at MetLife, where betting on the app is now completely legal.
“We are thrilled to fully activate our partnership with Fubo, providing Jets fans access to the Fubo sports betting experience on the app and in the Fubo Sportsbook Lounge as we kick off the 2022 Jets season,” said Jeff Fernandez, vice president, business development & ventures, New York Jets. “With the official launch of Fubo Sportsbook in New Jersey, the Fubo Lounge and Fubo’s wagering app will provide an opportunity for our fans to responsibly gamble on sporting events from one of the best experiential settings in the NFL.”
