Alexa New Jersey Will Host the Next SBC Summit North America in May 2023
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New Jersey Will Host the Next SBC Summit North America in May 2023

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New Jersey Will Host the Next SBC Summit North America in May 2023

While Nevada will forever remain the spiritual home of gambling in the USA, New Jersey remains a key trailblazer in the realms of iGaming and remote betting.

The New Jersey gambling scene is continuing to thrive both online and land-based as described here, while the state was one of the very first to legalize iGaming channels and monetize this for the purposes of taxation.

It was also quick to react to the Supreme Court’s May 2018 decision to strike down the PAPSA legislation, which allowed for the legalization of sports betting at an individual state level.

Because of this, it should come as no surprise that New Jersey was recently chosen to host the upcoming SBC Summit North America. We’ll explore this further below while appraising the state of the gambling market in New Jersey.

New Jersey Chosen to Host the Next SBC Summit North America

The 2023 iteration of the popular SBC Summit North America is scheduled to take place between May 9th and May 11th, with this increasingly well-attended event offering unique and expert insights into the fast-growing North American iGaming and remote betting markets on an annual basis.

This year, it’s expected that the event will welcome some 3,500 industry executives, while the fourth edition of this conference and trade show will host a cutting-edge combination of two-day exhibitions, all-inclusive networking opportunities, and seemingly endless educational content.

This year’s venue is the iconic Meadowlands Exposition Centre in Secaucus, New Jersey, with the location’s outstanding exhibition floor set to welcome in excess of 60 top-tier industry heavyweights. Among these are market-leading American gambling brands such as Better Collective, BetConstruct, and Symplify, who will appear alongside Betegy, BetBright, Condor Gaming, Fast Track, FSB, Optimove, Relax Gaming, Sportradar, SuzoHapp,  Trustly, and White Hat Gaming.

Interestingly, the Meadowlands Exposition Centre will be divided into two floors during the event, creating a clear separation between specific exhibitions and spaces for networking. There will also be designated catering areas and media interaction.

For those focused solely on learning and keeping abreast of the current iGaming market trends in North America, the event will host a three-day conference that curates content from over 300 knowledgeable speakers, drawing the very best insights across both online casino and remote betting verticals.

Given the exponential growth of the market that has ensued since May 2018, May 9th will be of particular interest to operators, as this will see speakers discuss topical issues such as player protection, compliance, and the role of senior leadership in meeting associated challenges.

With more than 30 US states having now fully legalized sports betting (and a further six also permitting online casino gameplay), the market has seen exponential growth in demand and the number of people who gamble frequently.

So, the need for a stringent regulatory framework and strategic player protections is becoming increasingly pressing every year, with advanced technology stacks and key industry insights now more important than ever before.

New Jersey Gambling Scene

In many ways, the announcement that NJ will host the upcoming SBC Summit North America is perfectly timed, as gambling in New Jersey has taken a minor hit according to its most recent figures.

More specifically, sports betting revenue in New Jersey declined by 7.4% year-on-year to $77.9 million, as leading brands saw their yields increase while challengers and newcomers to the market continued to struggle.

This figure was revealed as players bet a total of $1.06 billion on sports in October 2022, with this also down 18.1% year-on-year (from the record high of $1.30 billion recorded in October 2021). Of this total, some $987.6 million was wagered remotely, highlighting the growing demand for online gambling in New Jersey and the increased appeal of remote betting.

With a similar trend observed through NJ casinos both on and offline, it will be hoped that the SBC Summit North America will provide some insights to help emerging operators maintain market growth, while simultaneously optimizing compliance and generating a general buzz around online gambling in the state.

Remember, the core SBC conference days between the 10th and 11th of May will also see speakers deliver their insights into critical sports betting trends and developments, potentially offering market newcomers and less-renowned brands the chance to learn more about unique selling points such as cryptocurrency and blockchain adoption.

The Last Word

Ultimately, New Jersey remains an innovative hotbed of iGaming growth and entrepreneurship, as evidenced by both the impending SBC Summit North America and Morgan Stanley’s decision to partner with NJ in a bid to boost business ownership among minority demographics.

The SBC Summit North America will be particularly important from the perspective of emerging and challenger iGaming brands while placing the spotlight on NJ casinos and sports betting brands at a time when revenues are starting to dip slightly.

This will be good news for all parties involved, especially when you consider the exponential market growth in North America and the challenges that this may create from the perspective of problem gambling.

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