eSports have been around for a long time but most people play them solo in their rooms. Recently, esports has taken a whole new level with players engaged in real competition with other players or in esports arenas. The new level of esports is covered live in channels like Twitch and YouTube. The winners take home millions of monies as prizes.
The betting industry has seen a huge opportunity in professional esports competitions. For several years, they have been making plans on how to add esports as one of the casino products. The stage seems ready for esports betting but gamblers might have to wait a little longer.
Current successes in online esports
The US online casinos have been actively involved in preparing the ground for esports betting. It has been working on various strategies that have been crucial in the development of esports. Some online casinos have sponsored major esports tournaments and the success recorded is big.
Some have already built spectacular esports arenas where major competitions can be done. Other casinos in the US have hosted esports tournaments and offered attractive prizes to the winners.
The results have been impressive, with some trying esports betting. These are actions that have set the ground ready for esports betting. Whether the audiences are ready or not for esports betting, some states have started rolling out the product.
Sports betting in the US have been growing quick, although some states have recorded faster growth. In places where online wagering is legal, sports betting sites have actively taken a leading role in developing innovation that will improve gambler experience.
The biggest challenge has been legalizing esports betting. Some legislators fail to agree on the definition of esports. According to them, they believe sports should be defined as physical games but not electronic. Because esports games are essentially video games, most legislators have been cautious about legalizing them.
The bigger challenge has been deciding where esports betting would fall under the law. If they decide it should fall under sports betting, the issue might be more straightforward. These are the confusions that have lagged regulators to legalize esports betting.
How soon will legalization take place?
The US sports industry has a long list of major sporting events in 2022. This is a big opportunity for the casino industry to launch new products in esports betting to benefit from them. Generally, you can bet in esports if you are in the US but it all depends on the state you are located in.
Although it is illegal to bet on esports across the US states, some that have legalized online casinos don’t have strict rules on online betting. This gives a loophole for those who want to bet on esports currently. Unfortunately, you have to be in those states to be able to wager on esports.
The good news is that most states are at an advanced stage of discussing the esports legalization bill. Pennsylvania may soon pass the bill, while the New Jersey governor has already signed it. There is hope that 2022 will be a turning point in esports betting, as many states will sign their bills to pave the way for the betting industry to start accepting wagers on esports.