Company Believes It Will Be First Esports-Vertical Focused Sports Book With State License US Once Its New Jersey Gaming License Is Approved.

By Sean Mason

The Company Believes It Will Be The First Esports-Vertical Focused Sports Book With A State License In The US Once Its New Jersey Gaming License Is Approved. Esports Entertainment Group Inc (NASDAQ:GMBL) (FRA:40Y1) reported that it has submitted its gaming license application with the New Jersey Division of Gaming Enforcement (NJDGE).

The company noted that New Jersey has quickly become a US leader in legal sports betting, setting new wager records each month since August, with the state recording nearly $1 billion in total sports bets in December. “This is our first gaming license application in the US, and once approved, we believe we will be the first esports-vertical focused sports book with a state license in the US,” Esports Entertainment Group CEO Grant Johnson in a statement.  

He added: “According to a study from data firm Interpret, over 50% of US esports fans said they are likely to engage in esports betting so we are confident that demand will be strong. We are ready to move quickly with our esports-focused wagering platform rollout once the Division of Gaming Enforcement (DGE) permits us to do so, which we expect in the second quarter this year.” 

“Securing access to what is currently the largest market for sports betting in the US will provide a strong advantage as we look to expand into additional markets in the US moving forward. We look forward to updating our stakeholders on continued progress on these initiatives in the months ahead.” Esports Entertainment Group, or EEG, is a licensed online gambling company focused on the growing world of professional video gaming — and the only esports company listed on NASDAQ.

Much like traditional sports gamblers betting on their favorite teams, EEG’s proprietary Player-to-Player (P2P) wagering system allows esports fans and enthusiasts to bet against one another in support of their favorite ePremiere League (ePL) teams. The ePL is a partnership between Electronic Arts and the English Premier League, which is the most-watched sports league in the world.

This news was originally published at Proactive Investors.