The world of Esports is always advancing as new technology and popularity continues to grow. Now, the Esports industry has made its way into New Jersey as an online gaming and gambling company has been approved to begin accepting bets within the Garden State.
The company formally known as Esports Entertainment Group was approved for a transactional wavier by New Jersey’s Director of the Division of Gaming Enforcement. Meaning the online gambling company now has permission to begin accepting any Esport related betting from New Jersey residents.
This marks history for the state as the Esports Entertainment Group will be the first Esport betting operator in the state. This comes all after New Jersey also became the first state to surpass one billon USD in betting wages in a single month. This happened back in September thanks to a number of competitions such as the start of the NFL season, according to the Division of Gaming Enforcement.
Fans will be able to now bet on their favorite video game teams in their favorite games like you would in regular sports. This also means that the competition of games like; Dota 2, CS:GO and League of Legends will be even more fierce and costly than ever before within the Garden State. Though the company doesn’t seem too keen on rushing the official launch, instead taking a much slower approach when they made this tweet today.
The Company's VIE betting platform will fully launch following a five-day ‘soft play’ period which will begin Tuesday afternoon.— Esports Entertainment Group (@EsportsEntGroup) January 24, 2022
Esports betting has continued to grow in popularity ever since the pandemic started as more people were forced inside and pushed towards gaming as we’ve seen with the rise in gaming popularity. However, now some are reporting that the global value of the Esports betting market will reach somewhere between eight and thirteen billion dollars by 2025. A drastic increase from the eight-hundred million dollar value given back in 2019. Some have also predicted that with this continued growth and support that number could continue to increase tenfold by 2027.
However, what other plans does the Esport market have for New Jersey as it seems other companies may be looking to expand into the state. Though nothing has yet to be made official 2022 may just see New Jersey sprout a new hub for gaming and esports in the coming years, but what do you think? Will you be a part of the new era of Esports in the garden state? Find out more information as it becomes available right here on Fox Sports Radio.