COVID-19 has put a halt on all sporting activities for the last three months. It was about time the state officials did something to save the game betting companies from falling into a terminal decline. The Nevada Gaming Control Board is the first one to take the initiative.
They have approved wagering on the Counter-Strike: Global Offensive ESL Pro League and ESL Meisterschaft can now allow gamblers to bet on their favorite action strategy game.
The Situation of the Betting Industry During the COVID-19 Pandemic
The betting industry has taken a massive hit in the past few months due to the shutdown of outdoor sports and other related activities. Employers are asked to keep their companies shut. Some have laid off or furloughed their staff.
People hardly have any money left to spend on leisure activities. Frugality has increased by a considerable margin. How can someone think about betting in such dire times? Although such is not the case with the upper-middle class and the higher class of America. They still are looking to play slots online.
As of June 2020, things are not yet back on track. Although the online casino business wasn’t hindered by the shutdown, the betting industry is looking for more options. eSports is an excellent alternative to conventional sports betting.
According to a report by PRNewswire, the online gambling industry is estimated to reach $102.97 Billion by 2025. This was indeed worked out before the COVID-19 pandemic. Still, the betting industry in Nevada is confident of achieving its financial goals despite hurdles such as a lockdown.
Industry experts are not really worried about reaching the target. With eSports coming to their rescue, they can even think about expanding their customer base. Along with the regular betting addicts, they can now focus their attention on the gaming community. eSports is the way ahead for betting in 2020 and beyond.
The Game Betting Industry Can Take a Sigh of Relief
In 2013, the Professional and Amateur Sports Protection Act (PASPA) banned online betting in the entire United States, except the state of Nevada. Online gambling, namely casino games, and poker are fully legal in the state of Nevada.
Since the onset of the COVID-19 pandemic, betting companies were not expecting much sympathy from them. The officials knew that the road was going to be tough until the crisis is over.
The Nevada Gaming Control Board is known for its strict rules and regulations. Surprisingly, the board has approved wagering on more than one eSports events.
According to a report by ESPN, the Nevada Gaming Control Board gave a green signal to gamblers waiting to wager on eSports on six games:
- Overwatch League
- League of Legends European Championship
- The North America League of Legends Championship
- Call of Duty League
- Dota 2
How Does this New Rule Affect a Regular Nevadan Gambler?
Before the latest announcement by the Nevada Gaming Control Board, betting on computer/console games like CS: GO, or League of Legends was punishable by law. The change of rule is going to force conventional gamblers into the world of CS: GO.
A stat by Statista states that “75 percent of the CS: GO’s fan base is male.” Imagine a man in his 40s, 50s, or even 60s trying to learn the nuts and bolts of Counter-Strike and other modern video games.
This might be a tipping point for the eSports betting industry and eSports in general, but a regular gambler will have a slim chance of winning and the younger gamers who are well-versed with the intricacies of modern games are going to have an edge.