A huge change may be coming in the esports betting scene in New Jersey, since the Garden State allows players to gamble on themselves.
Although betting on esports tournaments is completely allowed in the state of fresh Jersey, there is a fresh shift in the works. A new measure proposed by Assemblyman William F. Moen Jr. seeks to allow video game gamers and esports pros to gamble on their performance.
Esports athletes could soon be able to wager on themselves
The idea would be unacceptable in any professional sport or college-level competition, and we’ve seen numerous athletes punished for similar transgressions. However, the new bill may provide a path ahead for esports athletes to accomplish exactly that.
The bill passed out of an Assembly committee last week and is now slated for full Assembly review. The law aims to break away from the present esports betting business model.
The law proposes establishing two different esports-only gaming skins that would attempt to focus a company’s activities on each vertical separately.
The option to wager on one’s own game is not innovative, nor does it contradict the integrity of esports.
Sportsbooks may provide performance-based odds for select players to reach a specific milestone.
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In other words, underperforming would not be an option in such cases, while concerns remain about whether players will just let others to gamble on them.
The goal is to have only professional players gamble, which means they are driven to succeed and will be hard pressed to find a better player in their area who is not a competitor and will earn by playing from their account. Furthermore, the most of these bets, if not all, will be made on live events that can be validated.
Esports betting is a burgeoning industry in the United States. New Jersey happens to be on the front lines, with the Garden State having one of the fastest-growing esports ecosystems in the nation.
New Jersey is embracing the esports boom in new ways
To capitalize on this trend, the bill proposes enabling New Jersey to collect bets on video games played in physical facilities outside the state.
At the same time, the state’s colleges have already begun to award degrees to esports workers who work both as professional gamers and in one of the numerous other vocations involved with this expanding industry.
New Jersey is far from the only state to welcome esports innovation. Florida’s Hard Rock Bet has also expanded its offerings to include esports wagers, since the state has great support for the creative sector.
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