The New Jersey Division of Gaming Enforcement has granted approval to Esports Entertainment Group (EEG) to take bets on esports games. The company will be affiliated to Bally’s Atlantic City’s casino license, but will only be able to take bets on esports.
The company will launch its betting platform, VIE.gg, following a five-day “soft play” period, which will begin Tuesday afternoon. During this period, certain limitations will be applied to the online experience to ensure proper regulatory operations: hours will be limited, as well as the number of people allowed to bet.
Starting off Monday with a bang! We've been granted approval to begin betting operations in the state of New Jersey, becoming the first esports operator to receive a transactional waiver in the Garden State.— Esports Entertainment Group (@EsportsEntGroup) January 24, 2022
🔗https://t.co/Ln8Yv6j1Ng$GMBL #esports #gaming #NewJersey pic.twitter.com/9qQarrDRgf
New Jersey regulators have given approval on a case-by-case basis for individual events or tournaments involving sports. This one is the first for a company for an ongoing schedule of games that will not need to be individually approved.
Customers on the Esports Entertainment Group platform will be able to bet on other people playing games, including “Call of Duty”, “League of Legends” and others.
The Company's VIE betting platform will fully launch following a five-day ‘soft play’ period which will begin Tuesday afternoon.— Esports Entertainment Group (@EsportsEntGroup) January 24, 2022
Grant Johnson, the company’s CEO, spoke about this new milestone and said: “We couldn’t be more pleased to be the first esports-dedicated operator to be granted the right to commence business in New Jersey. We are thrilled to be playing such an important role in this fast-growing market with the launch of our first esports wagering offering in the United States”.
Johnson estimated betting on esports is expected to reach $205 billion by 2027.
Esports Entertainment had submitted a transactional waiver to the DGE back in October 2021, and opened an office in Hoboken, anticipating its approval. The new office adds to those the business already has in the UK and Malta.