When opening the Mojo Sportsbook app, don’t expect to find NJ sports betting odds for Sunday’s Philadelphia Eagles vs. Washington Commanders game. Actually, wagers on your favorite NFL team aren’t available.
Mojo, which bills itself as “the sports stock market,” is live in the Garden State via a land-based partnership with Tropicana Atlantic City. Basically, the concept centers around investing in NFL players.
Still, “Who in the world is Mojo?”
Mojo Sportsbook backers set stage for New Jersey debut
Believe it or not, former New York Yankee Alex Rodriguez is one of the co-founders. So is Marc Lore, chairman and CEO of Wonder Group. The two also share an ownership stake in the NBA’s Minnesota Timberwolves.
New Jersey is the first US market where the product is available. Here is a closer look at Mojo Sportsbook offers NJ bettors.
Daily Top Gainers
David Sills V +47%👀
Noah Brown +21%
Garrett Wilson +17%⏬
Richie James +15%
Jaylen Waddle +13%
Aaron Jones +11%
Jimmy Garoppolo +10%
Tyreek Hill +9.4%
Mike Gesicki +8%
Amari Cooper +8%
David Montgomery +8%
Isaiah Likely +8%
Drake London +7%
Harrison Bryant +7% pic.twitter.com/PCsRQkAE21— Mojo Markets (@mojo) September 19, 2022
How does Mojo Sportsbook work?
When visiting the Mojo Sportsbook website, NJ sports bettors will see the phrase “Invest in what you know. Turn your sports knowledge into real money with Mojo, the sports stock market.”
The iOS app features a find athletes page. listing over 300 NFL players (with current prices along with percentage movements). However, if sorting through an extensive list of every NFL player seems overwhelming, there are other search options:
- Playing today
- Top movers
- Rookies
- Position (QB, WR, RB or TE)
After finding the player you’re seeking, click on his name and you’ll be able to see how his stock has moved, either up or down, This movement of course changes based on the actual playing performance.
For example, as of early Monday afternoon, the value of New York Giants wider receiver David Sills was up over 47%, trading for $1.38 a share. In Sunday’s 19-16 win over the Carolina Panthers, he caught three passes for 37 yards. They also happen to be the first three catches this season for the second-year player. However, like evaluating a point spread, bettors need to consider if that value will go up or down when the G-Men host the Dallas Cowboys next Monday night.
If you think said player is underrated, select the go long option. However, if you think Sills is overrated, pick the go short option. Like buying shares on the New York Stock Exchange, this form of sports betting is set up like a buy, hold, sell scenario.
Here is a look at some other top movers:
So why only betting on NFL players?
Being that Rodriquez is a former All-Star, one would think it would make sense including current MLB players. After all, September and October baseball is about as exciting as it gets. The New York Mets, Yankees and Philadelphia Phillies are all playoff contenders. Being that Mojo Sportsbook just launched in the New Jersey market, investing in superstars like Aaron Judge, Bryce Harper or Pete Alonzo would certainly generate some extra buzz.
And Judge’s value is soaring at the moment as his hit two home runs Sunday night, giving him 59 for the season. This means he’s on the verge of shattering Roger Maris’ single-season American League home run record (61). This is what one would call a sell-high situation.
However, for now, Mojo is strictly football players. One reason could be that Mojo has raised over $100 million to date, according to its website, with the NFL Players Association being among the investors. Plus, it’s no secret that NFL betting generates a much bigger handle than MLB.
So does Mojo Sportsbook have enough, shall we say “mojo,” to compete for NJ sports betting market share? Remember, here we are wrapping up NFL Week 2 and there are now four new apps available in the highly competitive Garden State. Sporttrade, Prophet Exchange and Fubo Sportsbook are the others.
For now, the only thing we know for sure is the Mojo brand is offering something unique.
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