G3 Esports has joined forces with Comtrade Gaming. As part of this partnership, Comtrade Gaming will provide G3 with player account management services, as well as backend infrastructure for G3’s forthcoming esports betting platform. Once G3’s platform is ready, the new esports platform will leverage Comtrade’s extensive enterprise-level services so that esports lovers can wager and engage with esports.
Now that esports betting has been made legal in New Jersey, G3 intends to establish itself as the first licensed esports betting operator in the world. G3 has already helped to host the 1st legal esports betting event in the Garden State in partnership with Allied esports. The event titled Counter-Strike: Global Offensive Legend Series was a tournament held between September 1st and 13th this year.
Apart from ensuring that the technology incorporated into the new platform is as high quality as possible, G3 is also greatly focused on player protection. To this end, G3 has worked extensively with regulators and legislators in various states to make sure that the platform incorporates only the most robust technology so that problem gamblers can be protected from harm. These platforms will also want to do everything possible to protect underage gamblers from gaining admission.
The esports market has never been more primed for success than it is now, which means that the opportunities present are ripe. At present, interest in esports betting is high, which means that there has never been a better time for sports betting operators to incorporate esports betting into their already extensive portfolios.
The growth in esports has been rapid
The esports betting industry has experienced incredible growth over the last year or so. So much so that the industry is now valued at $2 billion and it is not showing any signs of slowing down anytime soon. Even the most modest estimates have the esports wagering market estimated to reach a value of at least $4 billion before the end of 2025.
But the long road to get here has been anything but easy. It has taken many years for esports to become a serious contender and alternative to conventional online betting options such as traditional sports. However, over the years, esports has become a viable form of entertainment with traditional broadcasting companies such as ESPN even creating slots for major esport tournaments.
Indeed, millions of people tune in each year to watch major esport tournaments such as LOL Worlds. International streaming platforms such as Twitch and YouTube Gaming are also gaining popularity by the day. Boasting such a massive and engaged audience, it was only a matter of time before betting and entertainment companies such as G3 took interest.
Even though traditional bookmakers were originally skeptical about the advancement of esports, it is now clear that esports has become a real contender. There are also more esports betting sites on the rise that allow punters to place bets on major games and tournaments such as Dota 2 and CSGO. A large number of esports betting sites has gone a long way in helping to advance esports betting.
In the beginning, there was cause for concern as esports was still relatively an unexplored affair. On a few occasions, the inexperienced industry encountered several instances of match-fixing. However, in the last year, these incidents have become considerably rare thanks to the creation of regulatory agencies and bodies such as the Esports Integrity Commission, which has been tasked with the job of overseeing the standards of competitive esports gaming.
It has also helped greatly that esports wagering sites only accept real money wagers, which has helped the market gain more legitimacy among real money gamblers. Before real money gambling, esports betting was primarily a skin betting affair, which is a type of wagering that relies on the use of virtual goods, and other in-game items. Now that New Jersey has become the first one to legalize esports betting, more states will soon follow, thus allowing even further growth for the new market.
New Jersey set to be the market leader once again
The Garden State has always been a trailblazer when it comes to iGaming. As such, it did not come as a shock to many when the government decided to legalize esports betting in the state. Earlier this year, New Jersey unanimously endorsed a bill that expanded the state gambling laws to permit wagering on any skill-based attraction including esports, competitive eating contests, as well as award competitions.
It is evident that esports is emerging as a financial and cultural force that is at par with many other traditional sports. Now that New Jersey has made esports betting legal, the Garden State has become an even more attractive market to not only punters looking for variety, but also to innovative companies and stakeholders that are looking to advance the market.
As you can expect, New Jersey has helped to inspire other states such as Pennsylvania, which has also introduced a bill to expand their sports betting laws. If Pennsylvania passes this bill into law, punters in the state will be allowed to wager on video competitions that involve players 10 and up.
Some gaming analysts claim that legalizing eSports bets in New Jersey and Pennsylvania will not reshape the betting industry at first as the market will only likely attract a small volume of interested gamblers. However, the market will grow and attract a younger customer base to legal betting in the long run.
The New Jersey sports betting market is on the brink of a revolution. It is extremely rare to stumble upon something truly unique in the crowded sports betting market in New Jersey. The proprietary esports betting platform and content that is currently under development will engage with much younger punters while engaging with already experienced bettors.
The esports betting market in New Jersey is growing rapidly. As the state continues to take the necessary steps needed to capture future opportunities in the market and around the world, esports companies such as G3 and Allied will continue focusing on creating a safe player experience and increased fan engagement so that more and more states can jump on board.