Stars Group announces launch of sports betting service

The Stars Group has this week launched its BetStars sports betting service in the US state of New Jersey, stating that it was hoping to establish Bet Stars as a ‘premier product’ by leveraging its recent acquisition of Sky Betting and Gaming.

BetStars will be launched through the Stars Group’s partnership with Resorts Casino Hotel. The service will be offered via mobile devices initially, though it will face tough competition in the state from online sportsbooks provided by FanDuel, DraftKings and William Hill, among others.

The BetStars platform will run on the Stars Group’s existing proprietary technology and player account management platform, which will offer customers a single betting account with a range of online and mobile methods for deposits and withdrawals. Sports bettors will be able to bet pre-match and in-play with BetStars, which will also offer a Cash Out option.

Premier product

The Stars Group senior vice-president of strategy and US operations announced the launch and revealed that the company was aiming to grow further in New Jersey:

We have successfully launched BetStars in regulated markets across Europe and look forward to expanding and enhancing our New Jersey BetStars offering, including through leveraging the Sky Betting & Gaming acquisition following approval from the UK Competition and Markets Authority, to provide a premier product and experience to our customers in this new and developing market.”

The latest news comes after July’s acquisition of Sky Betting and Gaming for $4.7 billion. The company has also signed off on a deal to buy CrownBet and William Hill Australia as part of its growth strategy. Last month, it announced a year on year second quarter financial growth with sales rising by 35 percent and earnings improving 15 percent to $168m.

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