Legislation was passed back in July 2021 to include esports betting under the Garden State’s legal header of sports betting. The Esports Entertainment Group (EEG) were the first to be given the green light to trial their esports-only Vie.gg back in January 2022. But how does the esports betting scene look today?
After the initial transactional waiver was submitted to the New Jersey Division of Gaming Enforcement (NJDGE) in September 2021, Grant Johnson, CEO of Esports Entertainment Group said “The transactional waiver is one of the final steps in us being able to go live and bring the exciting world of esports betting to the state of New Jersey.” Soon after, the company set up a third office in Hoboken and was offered a five-day trial towards the end of January 2022.
The five-day waiver that was initially allocated to EEG has since passed and Vie.gg is still very much live and legal across the Garden State today. As it stands, esports bettors can wager up to $100 across various titles at Vie.gg, with the chance to win up to $500.
Unfortunately, it didn’t take the experts at wetten.com long to notice that Vie.gg remains the only dedicated esports betting platform available to keen CS:GO, League of Legends, and FIFA fans residing across the Garden State. However, when considering esports recent surge in popularity – particularly amongst younger bettors – we would expect the evolution of esports betting to soon follow suit, seeing more operators enter the uninhabited market.
Since the amendment to legislation back in July, any esports events have been authorized on a case-by-case basis. In just 7 short months, the state now has its own dedicated esports platform that is not required to receive authorization for its ongoing schedule. It’s exciting to consider where New Jersey’s esports betting scene could look in a further 7 months!
Predictions are already coming in thick and fast regarding revenue. Newzoo, a company renowned for esports analytics and market research, predicts that the mobile betting industry could be as valuable as $116 billion by 2024. Grant Johnson, on the other hand, suggests that esports betting alone could reach mammoth figures of $205 billion by 2027. If so, staking their claim to New Jersey’s esports betting crown this early on could prove to be a very wise move indeed.
Based on the figures detailed above, we find it hard to believe that the cream of New Jersey’s sportsbook crop will let such a huge opportunity to increase revenue pass them by. Currently, Fanduel, PointsBet, and SuperBook continue their dominance across the state; however, DraftKings, FOX Bet, BetMGM, Resorts, and Barstool all continue to surpass all-time highs and continually improve their sports betting offering.
Inevitably, the sheer volume of interest surrounding the up-and-coming esports betting market will be enough to see more and more online operators push for legitimate long-term esports licensing across New Jersey.
The ESL Pro League Season 15 may have already kicked off this week in Malta, but there are plenty of other upcoming fixtures and tournaments that are sure to turn esports fanatics and esports bettors heads. The Arena of Valor International Championship, League of Legends Worlds, and the Halo World Championship are just a few names that stick out. For now, Vie.gg is the only dedicated place to play in NJ. Although, how long they will remain the lone ranger of New Jersey’s esports market is left TBC.
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