{"id":125455,"date":"2020-01-27T16:59:42","date_gmt":"2020-01-28T00:59:42","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=125455"},"modified":"2020-01-27T17:42:10","modified_gmt":"2020-01-28T01:42:10","slug":"new-jersey-is-looking-to-add-to-wagering-offerings-with-esports","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/","title":{"rendered":"Esports Betting Could be Coming to New Jersey as State Eyes New Wagering Frontier"},"content":{"rendered":"

New Jersey has rapidly become a US sports betting mecca, rivaling or even topping Nevada in some months when it comes to total handle. Now, the Garden State could be looking to esports to expand on those successes.<\/p>\n

\"\"
Esports could be the next big thing in sports wagering, and New Jersey wants in on the action. (Image: Fortune)<\/figcaption><\/figure>\n

On Monday, Assemblyman Ralph Caputo (D-Essex) introduced a bill that would amplify the competitions bettors can invest in to encompass non-traditional skill games, including esports.<\/p>\n

The Garden State already had a flirtation with esports wagering. Last November, the New Jersey Division of Gaming Enforcement (DGE) permitted the state’s sportsbook operators<\/a> to take action on the League of Legends world championship.<\/p>\n

When the state approved sports wagering in 2018 following the Supreme Court ruling<\/a> on the Professional and Amateur Sports Protection Act (PAPSA), the initial law appeared to bar esports betting. That language was later clarified to allow wagering on video game tournaments, but only on competitions where all the participants are at least 18 years old.<\/p>\n

Caputo, a former Atlantic City gaming executive, is proposing legislation that would bring esports under the same rules and regulations as more traditional fare, such as basketball and football. The financial implications of making betting on gaming tournaments more readily available are potentially significant.<\/p>\n

Esports has the potential to meaningfully impact the global sports betting industry, as esports represents one of the fastest-growing betting markets – and sports \u2013 globally,\u201d said Roundhill Investments CEO Will Hershey in an interview with Casino.org. \u201cPer VentureBeat, esports wagers totaled approximately $8 billion in 2019. That number is expected to double over the coming years.\u201d<\/p><\/blockquote>\n

Roundhill is the company behind the Roundhill Bitkraft Esports Index and the issuer of the Roundhill BITKRAFT Esports & Digital Entertainment ETF (NYSE:NERD), a fund dedicated to publicly traded esports and video game companies.<\/p>\n

Sought After Demographic<\/h2>\n

New Jersey’s foray into possibly offering esports wagering on a regular basis could prove fruitful when it comes to enticing younger gamblers, a demographic the traditional gaming industry<\/a> is struggling to connect with.<\/p>\n

\n

\u201cEsports also represent a way for sportsbooks to connect with a young (predominantly 18-35 male), affluent demographic,\u201d said Hershey. \u201cThis attractive demographic is also expected to grow — esports viewership based is expected to grow from 454 million in 2019 to 645 million in 2022.\u201d<\/p>\n<\/div>\n

It would be a practical move for New Jersey, because data suggest that in any given month, $8 or more of every $10 wagered on sports there is placed via mobile devices<\/a>, underscoring the point that many Garden State gamblers are embracing technology.<\/p>\n

Big Growth<\/h2>\n

Esports revenue and television viewership is surging, potentially laying a foundation for a more vibrant wagering industry related to video game tournaments. By some estimates, esports TV viewership will exceed that of all the major domestic sports leagues except the NFL by 2022.<\/p>\n

There’s another carrot dangling in front of revenue-hungry operators and states on the esports front: increased opportunities for prop betting.<\/strong><\/p>\n

\u201cEsports betting also allows for potentially more sophisticated – and profitable – live prop betting,\u201d said Hershey. \u201cBecause of games’ digital nature, sportsbooks are equipped with immense amounts of data (in real-time) to continually engage their audience.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

New Jersey has rapidly become a US sports betting mecca, rivaling or even topping Nevada in some months when it comes to total handle. Now, the Garden State could be looking to esports to expand on those successes. On Monday, Assemblyman Ralph Caputo (D-Essex) introduced a bill that would amplify the competitions bettors can invest […]<\/p>\n","protected":false},"author":46,"featured_media":125459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3312,1074],"tags":[],"acf":[],"yoast_head":"\nNew Jersey Is Looking to Add to Wagering Offerings With eSports<\/title>\n<meta name=\"description\" content=\"Already one of the largest gaming markets in the US, New Jersey is looking to add to its menu by considering esports betting legislation.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Jersey Is Looking to Add to Wagering Offerings With eSports\" \/>\n<meta property=\"og:description\" content=\"Already one of the largest gaming markets in the US, New Jersey is looking to add to its menu by considering esports betting legislation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-28T00:59:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-28T01:42:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/esport.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1365\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/\",\"url\":\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/\",\"name\":\"New Jersey Is Looking to Add to Wagering Offerings With eSports\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/esport.jpg\",\"datePublished\":\"2020-01-28T00:59:42+00:00\",\"dateModified\":\"2020-01-28T01:42:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Already one of the largest gaming markets in the US, New Jersey is looking to add to its menu by considering esports betting legislation.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/new-jersey-is-looking-to-add-to-wagering-offerings-with-esports\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/esport.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/esport.jpg\",\"width\":2048,\"height\":1365,\"caption\":\"Esports could be the next big thing in sports wagering and New Jersey wants in on the action. 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