The birth of online poker in the US has not been easy for anyone. The first two states to regulate online poker was Nevada and Delaware, who has been doing so bad that they agreed on sharing liquidity through a trans-state agreement. Then along came New Jersey who was supposed to be the saviour and the state to show the others how it should be done, which they did to a certain degree.
Because along with the online gaming industry in New Jersey, the land-based industry was running so bad that several casinos were basically bankrupt (Note: not due to online gaming). This meant that in September this year, several casinos had to close in Atlantic City, including the Trump Plaza Casino Hotel, where online bookmaker Betfair held their license to operate in New Jersey.
To legally operate in the state of New Jersey, online sites needs to partner up with land-based casinos, which then became a problem for Betfair, as their land-based casino was closing down due to bankruptcy. The issue has now been solved however, as Betfair has signed a partnership agreement with Caesars, which will allow them to continue to offer games in New Jersey.
The New Jersey Division of Gaming Enforcement (DGE) has approved the deal, but hasn't provided any information about the terms of the agreement. For Betfair it is important to stay in New Jersey, not so much for the poker, as their poker client has been full of errors and practically never had any players, but because of their casino product which has generated $5 million in revenues this year so far (Until end of August).
While Betfair is not a well known brand in the US, it is certain that they will get to learn about the world's biggest betting exchange site and why it is one of the favourite places for Europeans and Australians to bet and play casino games.