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NJ Expansion of eSports Wagering With New Licenses
While the eSports betting market only became legalized in the state in 2020, sports betting in New Jersey is not new. NJ sportsbooks were known to offer eSports betting to NJ residents occasionally. As it issued a license to the publicly-traded gambling company Esports Entertainment Group (EEG), New Jersey has taken a big step to integrate the burgeoning eSports industry into its growing betting market. This will naturally improve the availability of eSports betting to NJ gaming enthusiasts, and eventually, the expansion of the eSports betting market in the entire state.
Authorizing eSports Betting in New Jersey
Before the approval of eSport betting, the offer of eSports betting by online sportsbooks wasn’t explicitly legal or illegal. The previous legislation permitted New Jersey sportsbooks to accept bets on eSports, as long as the state regulatory body has approved it.
So, sportsbooks had to submit a request to the state’s regulatory body, the New Jersey Division of Gaming Enforcement (NJDGE), to offer any specific eSports bets.
If the regulatory body approves the request, the sportsbook could start providing esports betting services to its customers. For example, back in 2019, the DGE gave its approval to allow Atlantic City-based Borgata casino to accept the state’s first-ever legal eSports wagers. These eSports wagers occurred when the Borgata casino ran a book for the League of Legends World Championship finals.
However, the status quo for eSports betting in the state changed in early 2021 with the approval of Bill A637. The A637 bill, unofficially known as the eSports betting bill, was first introduced in January 2020. It revised and expanded on the definition of sporting events regarding the Garden State’s sports betting regulations, including eSports. The New Jersey Assembly later unanimously approved the bill in July 2020. The bill then made its way into the state’s legislature through Senate approval.
This was a pretty big move for the US sports betting scene as many stakeholders and betting enthusiasts sought for the US betting industry to follow suit with the regulated UK betting market, where eSports wagering has been legal for some time.
Check out the iPhone casino Apps offering eSports.
NJ Operators Accepting eSports Bets
New Jersey has always been a strong advocate for sports betting in the United States, and the official approval of eSports wagering was only a matter of time.
In September 2020, New Jersey took the first significant step towards expanding eSports betting in the state by allowing licensed operators to accept esports bets on the VIE.gg Counter-Strike: Global Offensive Legend Series. The permitted bets were single outcome bets that included game-winner and match-winner for pre-match and in-play betting.
It is noteworthy to mention that although NJ operators that manage to obtain a gaming license from the DGE are authorized to accept bets on eSports events, there are limits attached. eSports bets can only be made up to $100, with a potential winning bet of up to $500.
Although this might seem like an unnecessarily strict limit, you should know that this can be extended or removed as long as the New Jersey Division of Gaming Enforcement (NJDGE) sanctions it.
The further acceleration of the economic potential for eSports betting in New Jersey can be attributed to the involvement of the New Jersey Economic Development Authority (NJEDA). Since 2020, the NJEDA has collaborated and worked in tandem with the NJ-based sports betting industry stakeholders to promote and expand eSports activity and gambling within the state.
EEG's New License Poise to Expand the NJ eSports Betting Market
Esports Entertainment Group (EEG) received its first US license in 2021, after the New Jersey Division of Gaming Enforcement's (NJDGE) official approval. Later on, the company received an order approving a transactional waiver after its software had been submitted for testing and thoroughly tested. The transactional waiver gave the EEG the green light to accept bets in the Garden State, including eSports wagers.
The company plans to launch its eSports betting platform, VIE.gg. Upon launch, the platform will allow bettors across the Garden State to wager on their favourite sport events in real-time while enjoying a seamless and immersive experience. This step will prove to be a significant one for the eSports betting market in New Jersey, and by extension, that of the United States.
With the approval of the A637 Bill in 2020, New Jersey took the first significant step in integrating eSports into its betting markets. And with licensed state operators like Esports Entertainment Group at the helm of affairs of eSports betting in the state, the expansion of eSports betting in New Jersey is only a matter of time.
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