PlayUp has been granted its full operation license by the New Jersey Division of Gaming Enforcement this week, allowing the gaming technology company to launch its product throughout the Garden State.
This news comes after the company was granted a license to operate in Colorado in May, and sees PlayUp enter the country’s largest regulated sports betting market.
Dr Laila Mintas, PlayUp USA CEO, said: “This is a huge milestone for our business. New Jersey doesn’t just represent the largest market in terms of revenue for any operator, but it also is an indicator showing the market, both consumers and investors, that we have cleared the most stringent regulatory standards in the world.
“We have aggressive growth plans for our jurisdictional footprint in 2022 and going into other states with New Jersey approval in our back pocket is a positive sign for other regulators.”
Per the terms of the license, PlayUp can now target customers in New Jersey, a goal the company believes it is uniquely positioned to achieve due to its place as a 100% online sports betting operator.
Being totally online, PlayUp hopes it can capitalize on the Garden State’s online market. August sports wagering handle was $664m, with nearly $613m of it coming from online platforms.
PlayUp board member and horseracing industry veteran, Dennis Drazin, said: “The future of gaming will be to offer every type of wagering on an app 24/7. Horse racing offers a unique opportunity to offer content on racing around the world. PlayUp intends to enter the fixed odds wagering market in New Jersey and throughout the US as the market grows.”
Mintas has also confirmed that PlayUp intends to bring an iGaming offering to New Jersey in the near future.
The company currently holds sports betting licences in the US, Australia, New Zealand, and India.