Experts do not anticipate a large US esports wagering market once live
Nevada regulators are set to open the esports market about a month from now.
Nevada sportsbooks are poised for the upcoming regulation of esports wagering a month from now. However, experts have said they do not expect any wagering breakthroughs.
The Esports Technical Advisory Committee has developed regulatory amendments that will allow “wagering on major video game tournaments and competitions.”
Superbook EVP of Sports Operations Jay Kornegay shared his opinion about the near future of esports wagering within the US. He described the process for both bettors and sportsbook to take interest as a slow one.
“It’s not going to blow the doors off. I expect it will slowly accumulate here and there,” Kornegay said.
“We have so much sports betting year-round with professional leagues and collegiate sports that esports probably isn’t going to move the needle.”
Both Kornegay and UNLV’s International Gaming Institute Director of Research Brett Abarbanel agree that “there won’t be a big blast of esports betting when regulations take effect.”
Kornegay went on to add that Europe and Asia continue to lead the way in markets with the larger interest in esports.
He commented: “In Europe, the interest is about 80 percent on soccer and 10 percent on tennis and the other 10 percent on the mix of all other sports.
“It’s not like here where people are interested in football, basketball, hockey and baseball.”
However, more esports interest could be generated by certain Olympic events, according to Kornegay.
He concluded by saying: “As far as Olympic sports is concerned, there’s some interest in hockey and basketball, but people don’t get too excited about betting the giant slalom or speed skating.”
Esports gained some traction in Nevada, when state gaming regulators allowed for the wagering option due to Covid-19 shutdowns. The Nevada Gaming Control Board has been meeting quarterly since March to lay down a foundation of ground rules once esports betting is regulated.
The state expects to set the tone for regulatory patterns once Nevada goes live as a model for other US states to follow.
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