How Competitive Video Gaming Presents An Opportunity For Online Betting and Wagering

How Competitive Video Gaming Presents An Opportunity For Online Betting and Wagering

PR Newswire

PALM BEACH, Fla., Nov. 18, 2021

PALM BEACH, Fla., Nov. 18, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The eSports gaming industry is being seen by many jurisdictions in the U.S.  as another… and a new, revenue for their state's coffers. A recent article in Gambling News discussed the new incentive that has just recently came to pass in the state of  New Jersey. It said that apparently, Gov. Phil Murphy is feeling cautiously optimistic about esports betting in the Garden State. "At least this is what we make from the governor's decision to sign a bill into law that allows betting operators to start accepting wagers on competitive video gaming." The bill was signed this November and it effectively paves the way for esports betting in one of the youngest and most populous states in the country. The bill was originally pushed by lawmakers who saw the value in advocating for more liberal esports gambling rules. During the pandemic, many sportsbooks in New Jersey turned to various esports competitions in a bid to make up for the dearth of regular sports events which were suspended due to the pandemic. The article continued: "Yet, esports' own merits were also factored in the language of the bill. A sponsor of the bill, argued that esports has achieved significant growth over the past years and that competitive video gaming presents an opportunity for betting businesses to generate additional revenue. The bill was originally introduced in March and it sent ripples across gaming communities in the United States… (it) faced very little opposition along the way and received final approval by both legislative bodies in July, leaving it to Gov. Murphy to sign off the draft and pass it into law… This has now happened with esports developing rapidly. Most sportsbooks were oblivious of the benefits to their bottom line that esports can generate." Active companies in the markets today include: Esports Technologies (NASDAQ: EBET), PLAYSTUDIOS (NASDAQ: MYPS), Rush Street Interactive, Inc. (NYSE: RSI), Roblox Corporation (NYSE: RBLX), MGM Resorts International (NYSE: MGM).

Gambling News added: "While the bulk of the action is still focused on three main gaming titles, name League of Legends, Dota 2, and Counter-Strike: Global Offensive, a growing number of people are turning towards esports wagering.  Even some mainstream sports fans are interested in placing bets on the FIFA and NBA2K simulators developed by Electronic Arts. New Jersey isn't the only state to have taken steps towards the legalization of esports betting on a state basis."  The article said that other states are ready to follow suit: "Connecticut featured esports betting language when introducing interactive sports gambling and Nevada has been actively probing the matter. While the esports ecosystem is fairly new from a betting point of view, there seems to be a growing level of interest.  Suppliers such as Betsy Games and Esports Technologies have been evolving their offer to feature more esports-ready products for business clients who may soon be interested to have a compliance-ready project to fire off."

Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Launches Eaffiliates.com -  Esports Technologies, a leading global provider of award-winning advanced esports wagering products and technologies, announced today that the launch of its affiliate platform Eaffiliates.com. Through this program, affiliates could receive a commission based on confirmed deposits and revenue generated. This multi-faceted esports solution combines secure and reliable wagering with industry-leading odds, effective promotions and targeted cross-selling.

Key benefits of Eaffiliates.com include:

Michael Holm, Affiliate Director, Esports Technologies, said, "Eaffiliates.com will harness the robust intellectual property of Esports Technologies to offer a best-in-class wagering experience that consistently optimizes conversion and retention, generating maximum revenue for our affiliate partners. We are excited to welcome affiliate partners from all over the world, and we look forward to working with them in a way that's mutually beneficial."  CONTINUED…   READ THIS AND MORE NEWS FOR EBET BY VISITING:  https://esportstechnologies.com/news/

In other technology recent news of interest:

PLAYSTUDIOS (NASDAQ: MYPS), an award-winning developer of free-to-play mobile and social games, recently continued to diversify its product lineup with the debut of its first-ever mobile board gaming experience, New York-New York Game Night. Developed exclusively for the PLAYSTUDIOS myVEGAS Slots app, New York-New York Game Night places players onto a virtual board game map of New York­—inspired by the glitz and glamor of the Great Gatsby—where they can roll their way to loyalty points and real-world rewards.

"When we set out to expand our portfolio of myVEGAS Slots' in-app features, our team of playMAKERS embraced their nostalgia for classic board games," says PLAYSTUDIOS Founder, Chairman, and Chief Executive Officer Andrew Pascal. "New York-New York Game Night adds a fun, new dimension to the app and perfectly complements the core gaming experience and virtual Strip that players navigate."

Rush Street Interactive, Inc. (NYSE: RSI), a leading online sports betting and casino company in the United States, recently announced that it was selected by the New York State Gaming Commission ("NYSGC") to operate online and mobile sports betting in New York. RSI was awarded one of nine licenses permitting gaming operators to offer online and mobile sports betting in New York upon its statewide launch, which is expected to occur during the first quarter of 2022.

Richard Schwartz, Chief Executive Officer of RSI, said, "Today is a momentous occasion for RSI, sports fans across the Empire State, and for the gaming industry at large. We are delighted to have been selected by the NYSGC in a very thorough bidding process and extend our congratulations to our fellow consortium members.

Roblox Corporation (NYSE: RBLX), a global platform bringing millions of people together through shared experiences, recently released its third quarter 2021 financial results and separately posted a letter to shareholders and supplemental materials on the Roblox investor relations website at ir.roblox.com. Third Quarter 2021 Financial Highlights Were: Revenue increased 102% over Q3 2020 to $509.3 million; Net loss attributable to common stockholders for Q3 2021 was $74.0 million; Net cash provided by operating activities of $181.2 million; Free cash flow increased 7% over Q3 2020 to $170.6 million; Bookings increased 28% over Q3 2020 to $637.8 million; Average Daily Active Users (DAUs) were 47.3 million, an increase of 31% year over year; Hours Engaged were 11.2 billion, an increase of 28% year over year; and Average Bookings per DAU (ABPDAU) was $13.49

For October 2021 key metric estimates, please refer to our Q3 2021 Shareholder Letter at ir.roblox.com.  "Engagement is our north star. We're very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox," said David Baszucki, Chief Executive Officer of Roblox. "We are happy to report that the developer community earned over $130 million in the quarter and is on pace to earn well over $500 million this year. As we finish 2021 and head into 2022, we will continue to invest in innovative technology to enable our developer community to do what they do best - build and create."

MGM Resorts International (NYSE: MGM), BetMGM, a leading sports betting and iGaming operator, and Gila River Hotels & Casinos, recently announced the opening of The BetMGM Sportsbook at Vee Quiva. This marks the first opening of a BetMGM retail sportsbook in Arizona and Phoenix's first in-casino sportsbook.

"It's great to see our partnership with Gila River come to life in Arizona," said BetMGM CEO Adam Greenblatt. "The BetMGM Sportsbook at Vee Quiva will be a true destination for sports fans and we look forward to opening additional venues at Wild Horse Pass and Lone Butte. These retail sportsbooks complement our existing mobile platform in Arizona and further cement our goal of providing BetMGM customers with a world-class experience."

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