This time last year, Freehold Raceway was absent from the NJ mobile gambling scene. Fast-forward to today, and it’s a completely different situation as betParx NJ is in soft-launch mode.
It’s the third and final NJ sports betting app to go live through a land-based partnership with Freehold. Each of the nine Atlantic City casinos and three NJ racetracks are allowed to have three online skins.
The entry of Parx into the Garden State via Freehold should come as no surprise since its parent company, Greenwood Race, is a 50-50 owner of Monmouth County racetrack. The other half is owned by Penn National (Barstool).
What we should know about betParx NJ
New Jersey bettors can access betParx NJ through a web browser or by downloading the app, which is available for both iOS and Android devices.
During the soft launch phase, players may experience limited sportsbook hours. For example, on March 3, the gambling schedule was from noon to 8 p.m. The operating hours for the remainder of the opening week according to the NJ sports betting application will be as follows:
- March 4: Noon-12:30 a.m. EST
- March 5: Betting begins at 10 a.m. EST
These hours do not apply to Parx NJ online casino players as the app was launched back in 2020 under the Ocean Casino Resort license. However, the shared casino and sportsbook platform is new.
The current list of available gambling markets includes:
- NBA,
- NHL,
- NCAA Basketball,
- UFC/MMA,
- and table tennis.
Similar to other sportsbooks, NJ bettors can place same game parlays or take advantage of odds boosts.
Will be betParx NJ-NEW JERSEY too late in order to NJ gambling game?
The NJ gambling market consists of 20-plus diverse apps, with several others expected later this year. And most operators out there want a piece of the Garden State pie.
January was the fifth-straight month in which the handle exceeded $1 billion. Many thought the strong handle would decline once New York mobile gambling launched, but it didn’t.
Yes, the Empire State was No. 1 for January with $1.7 billion in bets. However, preliminary figures weren’t too shabby on this side of the Hudson River with an all-time record of $1.34 billion.
Here’s the flip side of the story. Market leaders FanDuel, DraftKings, BetMGM, and Caesars (along with the former William Hill) all launched mobile apps in 2018. Plus, Barstool Sportsbook has been a major player since its launch last summer.
Since NJ monthly revenue reports do not include a breakdown by operator, it’s hard to get an accurate pulse on how well the other brands are performing. The reality is betParx doesn’t have the same level of brand recognition as Barstool. Another challenge is giving bettors a reason why they should even consider trying this new product.
Freehold Track continues to generate NJ wagering noise
For those unfamiliar with Freehold Raceway, in terms of horse racing, the venue has a rich history. We’re talking about “America’s oldest and fastest daytime half-mile harness racing track.”
However, unlike the Meadowlands Racetrack, home to a FanDuel Sportsbook, Freehold isn’t what one would consider a destination for New Jersey sports bettors. Yes, there is a Parx-branded retail space, but players aren’t flocking there to place bets.
Mobile betting is where the action is. Just take a look back at 2021 numbers.
Looking at the total sports betting revenue from January through July of last year, the number was $778,354. Yes, not a huge sum. Once Barstool and PlayUp launched, those figures soared past $24.3 million for the year, good enough to land in the top five. Here’s a closer look:
Meadowlands Racetrack: $451.8 million
Resorts Digital: $159.6 million
Borgata: $84.5 million
Monmouth Park: $34.7 million
Freehold Raceway: $24.4 million
But the real impact of mobile betting is truly eye-opening when comparing 2021 to the previous year. In 2020, Freehold earned just $291,632 from wagering.
Call it barely a blip on the radar as the Garden State claimed $398.4 million.
Only time will tell how betParx fares.
Bill Gelman has been reporting on the NJ-NEW JERSEY gambling industry since 2018, right around when the Garden State launched sports betting. Bill transitioned from lead writer for PlayNJ and NJ Gambling Sites to his current role as managing editor in 2020. In addition to providing in-depth analysis on NJ-NEW JERSEY gambling industry trends and news, Bill regularly sits down with Atlantic City casino industry executives to offer readers insightful interviews and comprehensive coverage. Bill earned a bachelor’s degree in journalism from Ithaca College. He has contributed to various Catena News publications such as Lines, Legal Sports Report, PlayPennsylvania, and PlayCanada.
