Pennsylvania is one of the leading states in sports betting, with close to $19 billion in turnover since the launch of sports betting in November 2018.
Now, there is legislation in the works to boost the market by allowing both retail and online sports betting to take bets on esports.
According to a legislative memo released Friday in the Pennsylvania House of Representatives, an upcoming bill could authorize betting on video game events.
“Pennsylvanians are 54 percent of stakeholders in the gaming industry in Pennsylvania because of our strict regulations and citizen-centered tax rates,” the memo said. during the Corona virus disease-19 pandemic, online gaming has increased and Pennsylvania needs to make sure our gaming industry is properly positioned not to lose market share to neighboring states.”
Last year, the esports industry was worth $1.1 billion worldwide. In the coming years, it is estimated that the esports industry has the potential to generate approximately $1.8 billion in economic activity. Philadelphia is currently building a multi-million dollar facility dedicated strictly to esports gaming that will attract world-class events, the first of its kind in the United States.”
The plan is supported by Representative Ed Nelson, a Philadelphia Democrat.
“To take advantage of this emerging industry, in 2021 New Jersey passed legislation to legalize gambling at esports events, such as video game tournaments. Similar legislation is being considered in other states. Pennsylvania should quickly add esports to our gaming portfolio, Which boosts our economy and the accompanying tax revenue. Therefore, I am introducing legislation to legalize esports betting in Pennsylvania.”
Esports, short for esports, is a form of video game competition. Electronic sports often take the form of organized multiplayer video game competitions, especially between professional gamers, individually or as teams.
Although organized competitions have long been a part of video game culture, they were primarily among hobbyists until the late 2000s, when the participation of professional players and spectators in these events through live broadcasts saw a surge in popularity. .
Popular esports franchises include League of Legends and Counter-Strike.
