The DGE’s decision comes after the company was found to have violated multiple regulations, including failing to pay out winning wagers and failing to maintain adequate anti-money laundering controls.
PlayUp customers in New Jersey can no longer make real money deposits or place any bets on the company’s website. Existing customers will be able to withdraw their funds, but they cannot stake any new wagers.
Additionally, all “Future” bets made through the PlayUp app and website are still considered live action, with winners supposedly being paid when the bets are settled.
The DGE’s decision is a significant setback for PlayUp, which is one of the smaller sportsbooks operating in New Jersey. The company struggled to compete with the state’s more powerful, established operators.
PlayUp’s CEO, Daniel Simic, said in a statement that the company is “disappointed” with the DGE’s decision. Simic said that PlayUp is “working to address the issues that led to the revocation of our license” and that the company is “committed to providing a safe and secure gaming experience for our customers.”
The DGE’s decision is a reminder that even the largest and most established sportsbooks are not immune to regulatory scrutiny. Companies that fail to comply with the law will face consequences, even if those consequences mean being shut down.
PlayUp US Employees Haven’t Been Paid for June
As reported earlier last week, PlayUp US employees went unpaid in June. Simic claims he held talks this past Friday with the unpaid staff and that checks were being processed “immediately.”
What Does This Mean for PlayUp Customers?
PlayUp customers in New Jersey can no longer make deposits or place bets on the company’s website. Existing customers will be able to withdraw their funds, but that may take some time to complete.
PlayUp is currently working to address the problems and violations that led to the revocation of its license. If the company can resolve these issues, it may regain its license and resume operations in New Jersey. However, there is no guarantee that this will happen, which doesn’t seem likely at this point either.
What does this mean for other sportsbooks in New Jersey?
The DGE’s decision to shut down PlayUp is a reminder that all sportsbooks operating in New Jersey must comply with the law. Companies that fail to do so will face the consequences.
The other sportsbooks in New Jersey should take this decision as a warning. They must ensure they comply with all applicable regulations to avoid being shut down.
PlayUp Sportsbook New Jersey Timeline
- May 2020 – PlayUp receives a transactional waiver to operate in New Jersey while its sports betting license application is pending. This allows PlayUp to start taking bets before receiving full licensing approval.
- August 2020 – PlayUp officially launches its online sportsbook in New Jersey. The company partners with Atlantic City’s Ocean Casino Resort for market access.
- September 2020 – PlayUp obtains a full New Jersey sports betting license after meeting all regulatory requirements. This allows the company to operate independently without needing a casino partnership.
- November 2020 – PlayUp launches its mobile sports betting app in New Jersey, allowing bettors to wager anywhere within state lines.
- January 2021 – PlayUp announces a New Jersey Devils NHL team partnership to become an official sports betting partner.
- March 2021 – PlayUp expands its product offering in New Jersey, adding online casino games to its sportsbook app. Players can now access slots, table games, video poker, and more.
- May 2021 – PlayUp scores a deal with the UFC to become an Authorized Gaming Operator. This allows the company to offer unique UFC betting markets in New Jersey.
- July 2021 – PlayUp launches a standalone poker platform in New Jersey, operating under the license of its Ocean Casino Resort partner.
- November 2021 – PlayUp announces plans to open a retail sportsbook at Mountainview Thoroughbred Racing Association in Grantville, PA. This will be the company’s first retail location.
- July 2023 – PlayUp Sportsbook will no longer be permitted to conduct sports wagering in New Jersey, as the Division of Gaming Enforcement (DGE) has revoked its transactional waivers.