Betting on eSports Getting Attention From Governments

Published Monday, October 24, 2016 -
Betting on eSports Getting Attention From Governments

Gambling can be done on every conceivable thing and the advent of eSports betting is a sign of our technological times. A recent article in the prestigious Wall Street Journal news source explains the trend that has enthralled many and at times has caused concerns that youth are being corrupted by video gaming.

Being hailed as the next great sports phenomenon eSports events are attracting thousands of spectators as well as participants. There are many online investors, advertisers and media companies striving to get a piece of this new source of entertainment. The League of Legends World Championship Semifinals was  staged at Madison Square Garden in New York city recently with a huge turnout that saw around eleven thousand attend the online competition. Enthusiasm is everywhere among the youthful demographic whose average age seems to be around twenty or so and there is apparently quite a few women that are interested in eSports.

There are aspects on the games that definitely require skill which the younger set possesses in spades. Mark Cuban, owner of the NBA’s Dallas Mavericks who is an investor in an e-sports gambling enterprise said of trend, “You have to understand how challenging and competitive it is, It’s intense. It’s a workout. The hand-eye coordination is at levels that rival baseball. It’s strategic. It’s teamwork.”

The online gambling firms are getting into the swing of the trend which has become monetized and extremely popular among youth. It was suggested that traditional sports are too expensive for young people and that the younger generation would prefer to attend an eSports event.

The U.K. Gambling Commission is looking into the emergence of eSports gambling and particularly the practice of betting using in-game items such as skins which has so far escaped regulation. The UK Gambling Commission believes gambling using skins or virtual currencies other than actual money can be controlled in the same way as traditional betting. Underage gambling is an issue that is being addressed by governments all over the world.

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