LeoVegas Will Launch In New Jersey And Start Accepting Players In Early 2022
LeoVegas is one of the popular online gaming sites in the Scandinavian and European market but is not very well known in America. The Swedish gaming operator is looking to change that as it has is looking to enter America for the first time and establish itself in New Jersey.
The push into the U.S market comes as no surprise as the U.S gaming and sports betting markets are growing rapidly. New Jersey continues to be one of the most attractive gaming markets in America and LeoVegas is keen on setting up shop in the Garden State.
LeoVegas’ first step is to start offering its products to the New Jersey market thanks to an agreement with Caesars Entertainment. The two companies now have a deal that provides the Swedish gambling operator access to the U.S market.
With a name like LeoVegas, one would think that Las Vegas, Nevada would be an ideal first stop for the brand. However, New Jersey stands out because it has a much bigger population when compared to Nevada. There are over nine million residents in New Jersey which means that there is always a good flow of players coming through, while easy access from other states allows more people to cross over and bet in New Jersey.
New Jersey led the way in the fight to get sports betting legalized and won its case when the Supreme Court repealed the Professional and Amateur Sports Protection Act of 1992 (PASPA) in 2018. The iGambling market in New Jersey has boomed since then and generated over $1 billion in revenues in 2020. Currently, more than 20 iGaming brands are in the state and they are subjected to a 17.5 percent GGR tax.
Rhino Betting Platform
LeoVegas is expected to make a big impact when it launches in 2021 as it uses its proprietary technology platform ‘Rhino’ for its operations. This will give the company full control over the operations and allow the brand to offer a competitive experience to customers.
Known as one of the world’s leading gaming platforms, Rhino will ensure that players have a solid and safe experience. Rhino uses the Google Cloud to provide a stable platform for gaming and is also easily scalable. It can handle more than 60 game integrations from casino providers and sportsbooks. Additionally, 30 payment service providers work with the Rhino platform, allowing for easy payments and payouts.