- Legal States
Jerome García January 24, 2022 3 min read
New Jersey Regulator Grants EEG Transactional Waiver for Esports Betting
Esports Entertainment Group, the leading online esports entertainment company, announced on Monday that it received approval to start betting operations in New Jersey.
Esports Entertainment Group Receives Approval to Start Betting Operations
To start its betting operations, EEG received an order that approves a transaction waiver. The order was issued by the Director of the Division of Gaming Enforcement. As a result, the company was allowed to start taking bets in New Jersey. The recent approval positioned EEG as the first esports betting operator that received a transaction waiver.
Now, the company plans a “soft play” period for its VIE.gg betting platform. Starting this afternoon, the soft play period introduces partial restrictions to the online experience. EEG explained that those limitations “must be applied to the online experience to ensure proper regulatory operations.” The soft play period is expected to last for five days.
Once officially launched, EEG’s VIE.gg platform will allow esports fans and bettors to place bets on esports teams in real-time. Moreover, the platform offers an immersive and seamless player experience. Combining the growing interest in esports with the fact that New Jersey is the 11th most-populous US state, EEG is expected to solidify its presence in the state quickly.
The Company Is Excited to Enter the Betting Market in New Jersey
Esports Entertainment Group’s CEO Grant Johnson revealed that the company is excited to become the esports operator pioneering into the market in New Jersey. Speaking on behalf of the entire EEG team, he thanked the Division of Gaming Enforcement for the approval of the company’s platform, as well as the trust demonstrated by the regulator.
“We couldn’t be more pleased to be the first esports-dedicated operator to be granted the right to commence business in New Jersey.”Grant Johnson, CEO at Esports Entertainment Group
According to Johnson, the global sports betting industry is expected to surpass $205 billion by 2027. In conclusion, he explained that the company is “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.”
“Global esports betting is estimated to exceed $205 billion by 2027, and 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.”Grant Johnson, CEO at Esports Entertainment Group
Before the most recent announcement, earlier in January, EEG revealed that it renewed its partnership with the Take-Two’s NBA 2K League. Back then, the company acknowledged that it has been a long-term partner of the League but it also “continues to deploy state-of-the-art talent analytics and scouting technologies to determine the best of the best for one of the world’s most preeminent professional esports leagues.”