After over 3 years of serving the Garden State, the 888sport sportsbook has withdrawn its services from the market. The larger 888 Holdings, however, plans for re-entry into NJ under the new SI Sportsbook brand formed with Sports Illustrated’s parent ABG.
Last Wednesday, bettors on the 888sport platform in New Jersey woke up to a message that the company would no longer be facilitating sports wagers for them. Upon launching the sportsbook via the 888sport website and app, users were faced with a message that read as follows:
Quote“888Sport New Jersey is no longer accepting or offering any sports betting opportunities, as of December 15. Any customer with a remaining balance will still be able to log into their account and either withdraw any funds they might have or use those funds at 888poker and 888casino.”
None of the 888sport players saw this coming as the brand moved to shut down its sports betting arm in the Garden State without warning. The sportsbook shutdown took effect immediately, and the Gibraltar-based 888 Holdings offered no reason whatsoever for its exit in New Jersey. Moreover, whereas bettors with account balances were given the option to cash out or use them in the 888casino or 888poker sections of the platform, the house pledged to honor unsettled wagers. The 888sport shutdown message further informed users that:
Quote“If you have any open bets on your account which have not yet been settled, we will honor those bets once the event has been completed. If your bet wins, you will be able to withdraw your winnings or use them at 888poker or 888casino. If you have any questions regarding your account, our Support team will be happy to assist you with your query.”
888 to Focus on SI as its Primary Sports Betting Brand
888sport launched in the Garden State over three years ago, in September 2018. Now that the sportsbook has left the New Jersey market, it confirms 888’s anticipated focus on the SI Sportsbook. The SI Sportsbook is a sports betting brainchild formed under a partnership between 888 Holdings and the Authentic Brands Group (ABG) through its seven-decade-old Sports Illustrated sports media company.
In June, the duo – 888 Holdings and ABG announced their exclusive partnership, citing their plans to roll out online sports betting and casino gaming products under the Sports Illustrated umbrella. For the SI sportsbook, the company developed a top-of-the-line sports betting product that’s fully integrated with sports betting information, analysis and news sourced directly from Sports Illustrated.
Based on the deal inked by the two companies, 888 Holdings accepted to make the SI Sportsbook its primary sportsbook brand in the US market. With that arrangement, 888 also agreed to power the SI Sportsbook with its proprietary sports betting technology. So, as is anyone’s guess, the exit of 888sport from New Jersey means that the SI Sportsbook is expected to make entry into the state soon. A launch in the Garden State will offer the new SI Sportsbook a fine opportunity to serve its largest market yet in the USA.
Colorado’s SI Sportsbook Launch Paves the Way for Wider US Expansion
Following the June partnership, the SI Sportsbook made its debut in Colorado in September as a launchpad for the bigger plan under execution by the twofer. Upon launching the SI Sportsbook in the Centennial state, the pair also disclosed an ambitious strategy of entering New Jersey, Iowa, and Indiana by the end of 2021, with plans to go live in other gambling-legal US states in the future.
After 888sport quit the New Jersey market last week, John Atkinson, the Director of Business Development for 888 Holdings PLC’s US-facing business, was quoted by EGR, confirming the reason for the exit. In the EGR correspondence, Atkinson disclosed that the closure of 888sport in New Jersey was in favor of the forthcoming debut of the SI Sportsbook. The 888 Business Development exec also pointed out that since the SI sports betting brand entered Colorado, it has won the hearts of bettors as it offers a ‘differentiated’ sports wagering experience.
From Atkinson’s statement, 888’s leading-edge betting technology backed up by “one of the most influential sports media” is the recipe to the success of the SI Sportsbook in the Centennial State. The group now aims to replicate the same shining reception of its new SI brand in the Garden State after closing 888sport.
Since the SI Sportsbook went live in Colorado in September, the sports betting brand has already penned a couple of lucrative partnership deals with leading companies in the sports, entertainment, and finance industries. One of the most notable is the agreement with NYSE-listed Genius Sports for exclusive access to official data, data-driven contentment, and trading capabilities from the London-based technology and sports data giant. SI also entered into a contract with Nuvei Corporation to leverage its Instant Bank Transfer technology for seamless financial transactions on its platform.
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