SBC teamed up with Soft2Bet to host a webinar to discuss how gambling brands can separate themselves from the rest of the pack in New Jersey’s online casino market.
The discussion, moderated by SBC Managing Editor Jessica Welman, included a panel of industry experts. The presenters included PlayStar Gaming Group CMO Jon Bowden and Princeton School of Public and International Affairs Partner Bill Pascrell, III.
Soft2Bet CBO Martin Collins also joined the panelists.
In this webinar, the panelists discussed strategies for standing out in a New Jersey gaming market that has been at the forefront of the U.S. online casino industry since 2013.
The group examined key topics in New Jersey, including market evolution and gamification.
New Jersey’s growth as an iGaming market
New Jersey has emerged as a robust U.S. online casino market. Since iGaming was authorized in the state more than 10 years ago the industry has undergone seismic shifts.
Changes have occurred recently as more markets nationwide authorize online gaming.
“It [New Jersey’s online casino market] has changed a lot in a three-year period,” said Collins to attendees. “The market access deals reduced drastically; the third-party costs reduced drastically. There was more ability to negotiate, which puts you in a position of strength rather than a position of weakness.”
The competitive nature of New Jersey’s iGaming market has caused licensed operators and suppliers to come up with creative ways to acquire new customers and retain loyal players.
PlayStar is garnering buy-in with new and old players through its localized rewards.
“We wanted to do things locally in New Jersey that really enrich the patrons’ time on site,” said Bowden. “Everyone can give free spins; everyone can give cash bonuses but can we actually offer something that’s a little different outside of that?”
PlayStar is conducting business outside the box by rewarding customers with experiences. The experiences include access to New Jersey Devils and New York Giants games.
The company is also evaluating how its rewards program impacts business in New Jersey.
“Even with our deal with the New Jersey Devils we look at everything through a performance lens,” continued Bowden. “We understand what it’s doing with our return on investment, driving demand and increasing our acquisition efforts.”
New Jersey’s gaming market remains appealing
New Jersey is undergoing changes to its gaming industry but the state continues to be the standard for regulated markets whether they have a storied history or recently launched.
“If you have a decent company, whether you’re a startup or a legacy company, and you want to get into the market, you would look at New Jersey because the regulations are very solid,” said Pascrell, III. “It’s a platinum brand. The taxes are superb.”
The Garden State is a promising market for Soft2Bet as the company recently announced plans to bring its online casino products to the state as part of its strategy to expand its reach across America. Soft2Bet has secured a market access deal with Caesars to launch in New Jersey and bring its Motivational Engineering Gaming Application to the state.
Soft2Bet will provide New Jersey with access to more than 10,000 online casino titles.
