eSports is becoming one of the fastest growing industries of the digital age. Also known as electronic sports, eSports is competitive video gaming that is generally broadcasted for viewing online, and even on national television (see TBS' ELeague). Millions of people across the globe are playing and tuning in, but how many of them are placing bets? This is where the emerging market of eSports gambling comes into play.
As fans watch real-time spectator sports, they often place bets for monetary prizes. So what's the deal with eSports gambling? According to Esportbetting.org, betting on eSports is becoming a popular activity, however, there are still complications regarding its legality.
Let's take a closer look at eSports gambling, where it's legal, and what the future has in store for this revolutionized spectator sport.
What is eSports gambling?
Since eSports gaming has become a fully regulated industry, it's no surprise that players and watchers are interested in placing bets. There are not very many operators offering betting opportunities on eSporting events at the moment, but the competition is likely to increase as companies realize how untapped of a market eSports gambling is. Currently, the major sportsbook sites that offer betting include:
- Pinnacle Sports
- Bet365 Sport
- 888 Sport
- Paddy Power
- William Hill
- 10 Bet
Essentially, you enter a tournament based on the sport of your choosing and place monetary bets on a certain team or player. It's pretty straightforward, but is this activity even legal? Online gambling isn't fully regulated in the U.S. yet - only in a few states.
Where is eSports gambling legal?
As of right now, online gambling is only legal in New Jersey, Delaware and Nevada. However, because of sports betting restrictions, betting on eSports is technically prohibited - unless there is a fantasy element. For the U.S. to fully allow eSports betting throughout the country, it would have to allow both online and sports betting.
The future of eSports gambling
Las Vegas locals and visitors alike will be pleased to hear that Allied eSports and eSports Arena have announced, as of April 11, 2017, that a new e-Sports venue is in the works. It will be developed at Luxor Hotel and Casino and is expected to open in early 2018.
Jud Hannigan, CEO of Allied Esports International, said this is a great opportunity for Las Vegas.
"We have very ambitious expansion plans over the next two years, and when we realized that a location at Luxor was possible, we jumped at the opportunity to develop our flagship here," he said. "Just as Yankee Stadium, Madison Square Garden and Wembley Stadium are considered their sports' most aspirational venues by players and fans alike, Esports Arena Las Vegas will be the iconic destination in eSports and complement the city's incredible appeal, attracting video gaming competitors and fans from around the world."
Do you have any questions regarding eSports gambling? Would you like to discuss the matter further? If so, please contact us or the Scarinci Hollenbeck attorney with whom you work at 201-806-3364.