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
Ladbrokes
William Hill
Betway
Betfair
10 Bet
Unikrn
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.
Reputational Risk and Legal Exposure: Why New Jersey Businesses Must Manage Them Together
New Jersey businesses must manage legal and reputational risk together because modern disputes play out on two fronts at once: the legal proceeding itself and the court of public opinion, where customers, employees, investors, and business partners often reach conclusions long before a judge or jury has had the opportunity to evaluate the facts. Success […]
Eviction Is Not Always the End: Understanding Post-Possession Rent Claims in New Jersey and New York
No. An eviction does not automatically end a tenant’s obligation to pay rent. Post-eviction rent claims are common because recovering possession resolves who has the right to occupy the premises, but it does not extinguish the tenant’s contractual obligations under the lease. Whether unpaid or future rent remains owed depends on three factors: the lease’s […]
Company Dissolved? Legal and Financial Consequences to Expect
A company is dissolved; legally, it ceases to exist. Accordingly, dissolution results in significant legal and financial consequences. It is a process that must be properly managed to avoid continuing liability. The Corporate Dissolution Process Corporate dissolution is the legal process of formally closing a corporation, paying its debts and distributing the remaining assets. Most […]
The Legal Implications of Signing a Triple Net Lease
A triple net lease is a commercial lease in which the tenant pays the property’s real estate taxes, insurance, and maintenance costs, known as the three nets, in addition to base rent. They are most often used in freestanding retail and office buildings and in large single-tenant industrial properties, with terms that typically run 10 […]
When to Settle and When to Fight: A Litigator's Framework
Every lawsuit comes with a cost, and knowing when to settle a lawsuit is one of the most consequential decisions a business owner will face. Experienced litigators understand how to minimize cost and obtain certainty for their clients. For many business owners, the decision is viewed almost entirely through a financial lens: What will it cost […]
Types of Business Law Services Companies Actually Use
Business law services are legal services that help companies form, operate, transact, protect assets, manage risk, and resolve disputes. The phrase can sound broad because it is broad. A company may need help with entity formation one month, contract review the next, a commercial lease after that, and a business dispute later in the year. […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
