Golden Nugget’s online casino is regularly the market leader in New Jersey in that category. The company hopes to achieve similar success with Golden Nugget Sportsbook with the integration of OpenSports.
The technology platform from Scientific Games is already in use by several operators in multiple markets. Will it alone mean a bigger market share in NJ for Golden Nugget, though?
The Golden Nugget sportsbook revamp
You could look at the new collaboration between Golden Nugget and Scientific Games in NJ as the former making its sports betting experience in multiple markets more uniform. Earlier this year, Golden Nugget’s sports betting product with OpenSports intact went live in Michigan.
Perhaps the most important part of this news for NJ gamblers is that iOS device users will have access to all the Golden Nugget Online Gaming (GNOG) products in one app. A press release from Scientific Games did not mention whether the same was forthcoming for Android devices.
What’s so special about OpenSports?
Well, that depends on where you sit. Scientific Games touts its features like a custom bet builder, daily enhanced odds, and same-game parlays. GNOG is high on the solution.
“Scientific Games’ OpenSports platform has a well-deserved reputation for being robust and scalable and our initial experience in Michigan, amid a very busy sporting period, has been positive,” said Thomas Winter, GNOG President.
However, several of GNOG’s competitors in NJ also offer those components in their sportsbooks. The move to OpenSports may represent a superior product as compared to what GNOG formerly had available for NJ bettors. It still has some work to do if it wants to become the dominant operator in this segment of the market, though.
Marketing just as crucial as technology
When it comes to sports betting revenue in NJ, GNOG is more of a pretender than a contender. For example, in February, it reported a loss of just over $37,000 in February 2021. BetAmerica Sportsbook also operates under the license, but the state Division of Gaming Enforcement does not break the results by operators.
In the same month, sportsbook market leader Meadowlands Racetrack – the licensee for both FanDuel Sportsbook and PointsBet Sportsbook in NJ – reported $24.9 million in online revenue.
One crucial difference is the marketing spend for FanDuel and PointsBet. Both brands not only buy advertising time during live sporting events but also continue to add to their celebrity endorser ranks. Recently, PointsBet contracted with Paige Spiranac while FanDuel reeled in Dr DisRespect.
To increase its market share in sports betting, GNOG may have to spend as many resources on getting its name on NJ bettors’ minds. OpenSports has proven it is a viable platform in other markets. During the Cheltenham Festival in the United Kingdom last week, for example, pari-mutuel wagers on European racebooks were up 53% year-over-year.
GNOG’s NJ sportsbook is only as strong as its brand awareness, though. To maximize the benefits of OpenSports, GNOG may still have to open up its wallet to educate gamblers in the state about the sportsbook revamp.
Otherwise, it’s possible that few NJ bettors will even be aware of the new options.
AP Photo/Wayne Parry