The post New Jersey gambling regulator paves way for esports betting appeared first on Esport Bet.
]]>Local betting operators leapt at the opportunity to extend their reach into a whole new market. FanDuel was the first New Jersey bookie to start taking wagers on the tournament, with several rivals following suit.
New Jersey legalized sports betting on June 11, 2018, making it one of the first states to regulate gambling on sporting events after the US Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) a few weeks earlier. The move has proved wildly successful, with the Garden State amassing close to US $285 million in gambling revenue since then.
The New Jersey betting industry made a huge step forward last weekend, when the DGE gave online sportsbooks a weekend pass to take bets for the 2019 League of Legends World Championship finals between G2 Esports and FunPlus Phoenix. Bookies could accept up to $1,000 in wagers on the match, but in-game betting was prohibited.
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The DGE’s decision was historic in two ways. Not only did it mark the first time in history US sportsbooks were allowed to accept bets on esports events, but it also went against New Jersey’s rules against wagering on high school sports events, video game competitions and esports. Those regulations were later changed to prohibit only wagers on events that are sponsored by a high school or involve players that are under the age of 18.
A similar stand was taken by Sweden in August this year, when the Swedish Gambling Authority implemented regulations which would prevent anyone from betting on esports events where players are under the legal age of 18. These measures were introduced to combat match-fixing and betting corruption, which have plagued esports for years.
The age restriction was still in place this weekend, but none of the participating players were under the legal age. The youngest competitors in the LoL Worlds finals were MVP Gao “Tian” Tian-Liang and Rasmus “Caps” Borregaard Winther, who were both 19 years old at the time of the series.
Nevada is the only US state that allows esports betting on a full-time basis. However, with the American betting industry advancing at a rapid rate, we can expect more states to follow in NV’s footsteps.
The esports industry continues to blossom all over the world and is now worth over $1.5 billion, with revenue numbers increasing up to 30% per year. According to Statista analysts, esports betting revenue has exploded from $24 million in 2015 to a projected $1.81 billion in 2020, which presents a huge business opportunity for online bookmakers.
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]]>The post Study shows gamers see link between loot boxes and gambling appeared first on Esport Bet.
]]>It also illustrated a link between high usage of in-game rewards and behaviours commonly associated with problem gambling.
The Centre for Gambling Research at the University of British Columbia surveyed 257 people about their online gaming activities and their awareness of loot boxes.
SEE ALSO: TRIBAL CASINO AT WAR WITH VALVE OVER LOOT BOXES
Two distinct groups were surveyed: one featuring 144 adult gamers from across North America, the other made up of 113 undergraduate students at UBC.
Some 86.2 per cent of the undergrads equated loot boxes with gambling, while 68.1 per cent of the grown-up gamers agreed.
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Researchers also discovered that 94.8 per cent of the students had opened a loot box in a game and 88.9 per cent of the other group had done the same.
Participants were also asked whether they had spent real money on loot boxes, with 60.3 per cent of the UBC group and 49.3 per cent of the others answering in the affirmative.
The study was published in the Addictive Behaviors peer-reviewed journal last month.
Gabriel Brooks, the paper’s chief author, said the study also unearthed a correlation between a person’s gaming expenditure and their likelihood of associating that activity with gambling.
“Typically we did have an association where the more one spent monthly, the more likely they were to endorse questions that associated with problematic gambling behaviour and/or problematic or risky loot box use,” he told reporters in Vancouver.
Brooks admitted the findings are far from conclusive and more research is needed before any serious campaign for legislative changes can be made.
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]]>The post Esports betting slow to catch on with Nevada bookmakers appeared first on Esport Bet.
]]>At a time when the United States is embracing sports betting like never before, only a very small fraction of wagers are going towards esports.
Part of the problem is that licensed sportsbooks are reluctant to go all-in for what they see as a fledgling and volatile sector of the industry.
Sandra Douglass Morgan, Chairwoman of the Nevada Gaming Control Board (NGCB), revealed earlier this week that only four Nevada betting operators have made requests to process esports bets since 2017.
SEE ALSO: USA ESPORTS BETTING SITES
She compared the situation to a similar issue surrounding skill-based slot machines.
Although such games are now legal in Nevada, only three manufacturers have gained licences.
“Similar to skill-based gaming, there seems to be public interest in esports but not a significant demand from licensees to offer wagers on esports events,” Morgan said in her speech at the UNLV Gaming and Hospitality Education Series.
“As the esports evolve and oversight and sanctioning organisations emerge, the board expects an increase in the amount of esports style wagering.”
Eight US states have legalised sports betting since May last year, while Arizona and New York are close to joining the list.
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]]>The post Ireland gives loot boxes the green light after gaming review appeared first on Esport Bet.
]]>He noted that his declaration has no “legal effect”, but is based on solid law.
Loot boxes have become a subject of controversy around the globe, with several governments trying to determine whether it is a form of gambling or not.
Loot boxes in essence are in-game purchases which allow players to buy or win surprise upgrades which can often lead to players spending big dollars on trying to secure the item they want. Trading and on-selling loot box items has also become commonplace.
Countries like Belgium and Australia classify loot boxes as gambling while France and New Zealand say they are not gambling.
“Where a game offers the possibility of placing a bet or the taking of risk for financial reward within the game, then, in my view it must be licensed as a gambling product,” Stanton said.
“To offer gambling products in Ireland, a license is required under the Betting Acts 1931-2015 or the Gaming and Lotteries Act 1956.
“The Revenue Commissioners are the primary responsible licensing authority under both Acts, with some involvement of the Minister for Justice and Equality.
“However, it should be understood, that if a game offers in-game purchases – be they loot boxes, skins, etc. – which are promoted to gamers as increasing their chances of success, such purchases are essentially a commercial or e-commerce activity. This activity would fall within normal consumer law.”
The loot boxes contain virtual items that allow game characters to have the edge over other characters. However, it is being classified as gambling by some countries because they are purchased without the buyer knowing what it contains.
The gaming giant Electronic Arts in resistance to rulings countries have made which classified loot boxes as gambling have refused to comply with the law changes in those countries. These countries, have asked video game manufacturers to remover loot boxes but Electronic Arts have not complied.
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