The German-based company has also broadened its partnership with online gambling firm bet365. It will officially supply the bookmakers with licensed esports live data upon its entry into the markets of the two mentioned states. The partnership will also build on bet365’s tech stack in New Jersey and Colorado.
The recent development has made Bayes Esports the first registered supplier in the country to make use of official esports live data from a game publisher directly. The partnership will also aid Bayes Esports in supporting the future generation’s experience in online betting.
Betting operators will likely have a hard time ensuring that their entire betting value chain is appropriately licensed on a state, sport, and event basis due to the differing regulations among the states. The operators may also incur heavy fines in a situation and be red-listed in a state if they offer unlicensed services or make use of unofficial data offerings.
Due to the usage of official live game data and its importance in protecting the integrity of sports betting, the US betting industry’s integrity has been placed on a new standard. Bayes Esports has also created a gateway for future esports betting sites to participate in the US market easily.
The company is currently leading the charge to ensure that the US legislation allows live online betting in 31 states and esports betting in nine states. Bayes Esports is reportedly working hand in hand with the relevant legislative powers and governing bodies, including the Nevada Gaming Control Board.
The regulators have to approve Nevada sportsbooks offering esports bets in order for them to operate. The company is working with the regulators to determine how legislation can be created to ensure esports betting and live online betting will be offered responsibly and legally.
Bayes Esports also revealed that it was aware of the challenges states who are opening to online sports betting faced. Operators usually face issues when ensuring that their betting value chain is sufficiently licensed.
As a licensed operator, the company noted its position nullified any illegitimacy worries concerning the sports betting data it supplies.
The COO and Managing Director of Bayes Esports, Amir Mirzaee, revealed that the US betting market was rapidly changing despite being behind Europe’s market. Colorado and New Jersey were also noted as the most progressive states in the country, with others to follow suit soon.
“Back in May, when we announced the closing of our financing round, we stated that we were looking to expand into the US market and that we were looking to become a licensed betting supplier. Today, just a couple of months later, we have kept our promise,” Mirzaee said.
“The betting market in the US is changing, and while it is still lagging behind its European counterpart, it without a doubt will be one of the biggest and most relevant markets soon. Out of all the states, New Jersey and Colorado happened to be the most progressive and open to innovation, but we expect others to follow suit very shortly.”
Besides its reputation as an esports data provider for tournament organizers, Bayes Esports is a game publisher and betting platform developer. The German-based company is partnered with Riot Games, ESL Gaming, OGA, Beyond the Summit, BETER, and several other notable names in the esports industry.
]]>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.
GG Bet
150%
Get €5 freebet!
18+ Gamble responsibly. Min deposit after code activation for freebet is €10. 1x turnover requirement. 14 days expiry. Max funds transferred to real balance is €5.
Betway
￡30
€30 Welcome Free Bet
New UK & Ireland customers only. Min Deposit: ￡10. First deposit matched up to ￡30. 1 x wagering at odds of 1.75+ to unlock Free Bet. Debit Card & PayPal deposits only. This offer is valid for 7 days from your new account being registered. T&Cs Apply
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.
]]>