New Jersey has approved the first companies to bet on competitive video games, a fast-growing activity known as esports popular with young people around the world, officials said Monday. .
The New Jersey Division of Gaming Enforcement has authorized the esports Entertainment Group to accept bets on esports games. Bally’s Atlantic City Casino partners with his license, but only accepts bets on esports.
The company will launch the VIE.gg betting platform following a five-day “soft play” period beginning Tuesday afternoon.
Based in London, it has offices in Hoboken, New Jersey and Malta.
The company’s CEO, Grant Johnson, said: A rapidly growing market with the launch of the first esports betting service in the US.
Johnson expects esports betting to reach $205 billion by 2027.
Market research firm Newzoo predicts that esports will generate $1.6 billion in revenue globally by 2024, up from just over $1 billion last year.
Customers of the Esports Entertainment Group platform can bet on other people playing games such as Call of Duty, League of Legends and more.
New Jersey regulators are granting approval on a case-by-case basis for individual events or tournaments involving esports. That’s what I mean.