Esports betting is heating up in New Jersey four months after it became legal to bet on professional video game tournaments in the state. NJ, one of the first states to legalize sports betting in 2018, permitted betting on all sports bar eSports back then.
In January, state legislatures proposed to include eSports among allowed betting markets. Due to COVID-19 restrictions, however, voting was delayed until August, when the representatives passed the bill unanimously.
What is eSports Betting?
Esports betting refers to gambling on video game competitions. Esports betting started nearly a decade ago. At the time, players would bet on valuable video game skins for better skins or real money. The then popular market went on for a few years but lost popularity following constant restrictions by publishers and the FBI.
Although you can still bet on eSports skins, more and more players wager on video game tournaments for real money at legal betting websites. New Jersey is the latest state to permit eSports gambling but it’s not the only one.
At least 18 sports allow sports betting, many of which permit eSports betting online. SBO lists some of the best bookies for eSports betting. And it also provides guides on how to bet on different video game competitions like a professional.
Which Games can you Bet on?
New Jersey’s August bill legalized most eSports games, competitions and bet types. That means there are few limits on the games bookies decide to provide betting markets for. They could support the popular titles: CS: GO, LOL, Fortnite, PUBG, and Dota 2. Or they could allow people to bet upcoming games.
The only eSports competitions prohibited are those that involve high school and underage players. Betting on eSports games held at NJ-based colleges is also banned. But to be clear, these bans also applies to most traditional sports.
That said, eSports betting is closely similar to traditional sports betting. The names might be different. But what you ultimately wager on in football is closely related to what you wager on in Madden Football.
In other words, you can predict common bet types—match winners, totals, props and even parlays. You could also wager on futures, taking a long guess on makes the first kill, which team exits a competition first or which players wins a tournament.
Are there eSports betting Bonuses?
Like regular sports, eSports qualifies for betting bonuses. Of course, the exact rewards you get differs from one bookmaker to another. But generally speaking, you can expect to get welcome bonuses in the form of a free bet or money.
There are different types of eSports bonuses and they all have their pros and cons. A free bet with no stake returned, for example, lets you keep your profits but not the stake given by a sportsbook.
On the flip side, a $20 bonus with 5x wagering requirements mean you must spend at least $100 at the betting site before you cash out your wins. Against that backdrop, it’s essential to read bonus policies to discover the best offers for you.
What’s the Maximum you can win from eSports bets?
In the UK and many European countries that allow eSports betting, caps are not something you have to worry about. You can wager as little or as much as a bookie allows. And you could win thousands of dollars based on your stake and odds involved.
In New Jersey, however, there’s a maximum betting limit of $100. What’s more, you can’t cashout more than $500 unless when betting on eSports events sanctioned by the Department of Gaming Enforcement (DGE).
Esports betting Legalization a Win for America?
Esports won’t topple football as the biggest sport for bettors in the US any time soon. It won’t even come close to baseball, basketball and soccer numbers. But according to analysts, the sheer fact that you can now wager on video competitions in the US is a win for the country.
For starters, bookies now have a new pool of fans and that means more money flowing in. On the other hand, eSports fans can bet on their favorite video game tournaments, adding excitement to the sport. Additionally, states and the federal government will increase revenues through taxes.