Esports is one of the fastest growing betting areas in the world and esports betting customers in New Jersey will soon have access to new betting opportunities after it was revealed that a high profile esports betting company is set to enter the state.
Esports Entertainment Group, which focuses on both esports entertainment and online gambling has submitted an application for a gaming license through the New Jersey Division of Gaming Enforcement (NJDGE).
The group runs a number of different brands in the areas of esports entertainment and infrastructure, online gaming and esports betting. The company currently has offices in New Jersey, the UK and Malta, and is looking to increase its presence in the fast growing US sports betting market.
Speaking about the application, the CEO at Esports Entertainment Group, Grant Johnson, said that once the licence is approved, the company will be the first esports sportsbook to hold a state operating licence in the US. And he added that he was confident of finding high demand in the US market once they start trading:
“According to a study from data firm Interpret, over 50% of US esports fans said they are likely to engage in esports betting so we are confident that demand will be strong. We are ready to move quickly with our esports-focused wagering platform rollout once the DGE permits us to do so, which we expect in the second quarter this year.”
Johnson went on to say that gaining access to what is the biggest market for sports betting in the US will give the company a big advantage as they aim to expand into other markets in the US going forward, with further announcements expected to be made during the year.
New Jersey was one of the first states in the US to take advantage of the reform of the US gambling laws, launching its online sports betting market in the summer of 2018. Since then, despite increasing competition from other jurisdictions, the Garden State has continued to grow, reaching nearly $1bn in bets taken during December, which represents the second straight month that it had topped $900m in total sports handle.
December was the same month in which Esports Entertainment Group announced a new multi year deal with the NFL franchise the Philadelphia Eagles, which will see the company acts as an esports tournament host for the Eagles.