Esports Entertainment Group sets up shop in New Jersey

New Jersey continues to establish itself as the United States modern gaming capital. European esports betting giants Esports Entertainment Group (EEG) has created a fully N.J.-based subsidiary focused entirely on securing gambling licences across the United States. The recently launched GMBL New Jersey is specially established to monitor and manage the Esports Entertainment U.S. expansion, with the company targeting a license application submission straight off the bat in New Jersey, and will provide updates surrounding pending applications in other state jurisdictions. The company has announced intentions to contribute to the New Jersey economy and recruit and source staff and infrastructure locally.

EEG: ‘U.S. critical to our growth moving forward’

EEG Chief Executive Officer, Grant Johnson, spoke of the establishment of the new venture and its place in the company’s business strategy;

Today’s announcement marks yet another significant milestone and provides the market with even greater insight as to our growth strategy,” said Johnson. “The US market represents a very big opportunity for us and thanks to the continued support of our valued shareholders, we intend to aggressively pursue it in 2020 and beyond.” he continued.

New Jersey is blessed to have such an experienced betting platform setting up business within their state lines. Esports Entertainment Group operates and owns eSports betting platform VIE.gg, a licensed fantasy, pools, and fixed odds betting operator across 149 global jurisdictions including Japan, South Africa, Canada and now of course, the United States.

eSports wagering lingers behind sports betting in New Jersey

Don’t be under any illusion – New Jersey has quickly become the U.S. sports wagering leader, but in terms of eSports at least, Nevada still reigns supreme in terms of eSports betting options.

Back in November 2019, New Jersey experimented with a single eSports event legalization of betting on the League of Legends World Championship finals. Meanwhile, the Silver State of Nevada has been more proactive in adapting to eSports betting allowing wagering across a range of events including permitting betting on a range of Call of Duty, NASCAR iRacing, CS:GO, Dota 2, Fortnite and Overwatch events.

New Jersey eSports betting bill expected to pass in 2021

New Jersey Bill A637, sponsored by Democratic Assemblyman Ralph Caputo is looking to legalize eSports betting in New Jersey. New Jersey’s A637 would permit wagering on the sport without any need for prior permission from the Garden State Division of Gaming Enforcement (DGE). It is widely anticipated to become law in 2021. EEG is perfectly poised to take advantage and ensure that New Jersey’s bettors will have legal eSports betting shortly after the safe passage of the bill.

Just like the traditional sports wagering equivalent, A637 should maintain a prohibition on wagering on eSports tournaments involving high schools, however the bill would permit betting on college-level eSports teams so long as they are not based in the state of New Jersey, or the events themselves are not undertaken at a Garden State venue.

Newzoo, an online gaming data provider, states that eSports viewership in 2019 sat at an astonishing 450 million, and that eSports viewers and competitions generated more than $1 billion in revenue from advertising, merchandise, sponsorship, tickets and other revenue streams.

New Jersey Assemblyman Vince Mazzeo, D-Atlantic eloquently summed up the situation for the Garden State;

Our natural next step will be to allow e-sports betting in New Jersey, which will undoubtedly add a new revenue stream for our state. I’m pleased to see this legislation move forward in the Assembly, and look forward to seeing it being signed into law

Precisely, Assemblyman Mazzeo, we’re with you and looking forward to legal eSports betting soon.

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