It’s been months since the New Jersey assembly overwhelmingly voted to pass an eSports betting bill. Upon jumping the final approval hurdle, the Bill will finally become law and officially allow eSports betting all across the state.
For the state’s vast gambling community, making eSports betting legal at a year when the Coronavirus pandemic decimated the options available to punters is probably the best news. It is a welcome relief to those whose betting options had been put on hold by the tight Covid-19 regulations.
But whether economically or otherwise, passing the eSports gambling bill makes sense, especially at such a time majority of gamblers have had to switch to eSports. When the pandemic stopped baseball and college basketball betting markets alongside staking on golf Master’s Tournament, the NBA and NHL and top NASCAR events, many opted for virtual betting.
The state missed out on the massive revenues it could have earned from punters who turned to eSports betting. But all’s not lost yet, as passing the law means it may still recover a lot in tax revenues, much like Nevada.
As the state’s leading source of gambling news reported, this landmark pass is a perfect embodiment of why the love for eSports in New Jersey keeps soaring. A 74-0 approval is historic and perfectly encapsulates the lawmakers’ confidence, and indeed, the entire state has in this online sporting craze.
About Bill A637 and what it entails
The Bi-partisan bill A637, which will eventually be referred to as the “eSports Betting Bill,” was passed in August. Right now, it is at the Senate, where it is only waiting for a final vote before it officially extends sports betting regulations into the virtual world.
D-Essex Assemblyman and the power behind the bill, Ralph Caputo, is a lot like Brett Kavanaugh in the gambling industry. According to him the state has every reason to adopt eSports betting. He notes that, with virtual gaming being the ‘next big thing,’ New Jersey ought not to miss out on its success.
He knows the potential that betting on this new phenomenon has, having been a casino executive before. And even as he chairs the house games committee, Caputo is upbeat that the Bill will eventually be a law and finally open the state’s ardent punters to the thrill of playing different digital games.
The good news about the much-anticipated approval is the vast avenue of betting opportunities that punters will have to choose from. For once, any eSports lover from New Jersey will have an opportunity to stake on the Call of Duty League and win, participate in the European Championship or simply follow the League of Legends.
The Bill, though, hasn’t opened up the pathway for irresponsible gambling amongst them. Part of its key elements is the prohibition of all electronic sports and competitive video games and tournaments whose majority of participants are below 18.
The ‘prohibited sports events, which also include competitive video games sponsored by a high school or its affiliates, aims to instill proper betting habits amongst juniors and teenagers of legal betting age. The clause simply shows that the lawmakers had the risks around allowing young fans and participants agreed upon.
In essence, eSports will not allow games pitting teams from New Jersey colleges and universities to be waged on. But generally, passing this Bill is a massive win for the state of New Jersey, its growing eSports virtual betting community and America at large.
eSports betting was long overdue!
The excitement has everything to do with finally being able to bet on games in an explosive multi-billion dollar industry currently taking over the world of virtual gaming. It is the eagerness to finally participate in the fun and thrill of this fast-growing international phenomenon and making mad amounts of cash out of it.
The hi-tech graphics plus the convenience of accessing eSports games worth betting on is the greatest thing luring bettors to this new craze. And going by the number of gamblers switching to it right now, it isn’t a surprise why it’s among the fastest-growing betting avenues among betting.
The thrill of playing doesn’t exist in the virtual gaming space alone, though. Thanks to the sheer number of sponsorships and activities it already has out there, eSports is gradually gaining acceptance. For the state, legalizing betting of the various games on offer will potentially pave the way for massive goodies to the state.
What’s next for New Jersey?
More than the vast list of games to bet on, eSports is gradually taking over as the future of betting. Most of those who follow eSports religiously are the younger punter population, including the tech-savvy majority bettors.
For the state, looking at the success story of Nevada’s state so far, it is all clear how much of a success this new move could be to the state. According to Assemblyman Eric Houghtaling, D-Monmouth, the state may eventually recoup lost revenue occasioned by the pandemic, who also sponsored it.
New Jersey is no stranger to eSports, according to New Casino Online. In 2017, Caesars Atlantic City played host to the first tournament, Gears of War Pro Circuit. Later in 2018, the Rainbow Six Siege Pro League event went down at Harrah’s Resort Atlantic City. Last year, INGAME Esports and Caesars Entertainment and Jim Whelan Boardwalk Hall agreed to host the Ultimate Gaming Championship’s Halo Classic tournament.
These and other plans simply highlight how the state revere eSports and indeed why the Bill was long overdue. In fact, as Fox Rothschild’s Atlantic City’s Nicholas Casiello Jr. opines, the eSports Betting Bill has the potential to make Atlantic City the eSports capital of America.
Like the optimism around the casino industry and the largest casinos, it will be interesting to see how fast eSports betting in the US grows. For punters in New Jersey, the greatest enthusiasm is whether other Caputo-sponsored bills are already on hold, including one that could allow the setting up of video lottery terminals at the Meadowlands Racetrack. Whichever way the bills go, 2021 and the years beyond certainly prove to be worth waiting for.
Meanwhile, as New Jersey approves betting on virtual sports online, many punters are optimistic that another state soon follows suit. Michigan is reportedly getting ready to legalize it and perhaps lead the way for the remaining states. And they all have a reason to, regardless of how long the pandemic keeps betting markets closed.