Sports Information Services (SIS) announced earlier this week that it has reached an agreement with bet365 to become the first non-tournament esports betting provider in the Garden State.
The deal allows the online betting site access to ultra-low latency live streaming of games, which includes visible ESIC-trained integrity referees for every game, live broadcasters, and on-screen graphics that include betting prompts, current forms for the various players, stats, and previous results.
SIS's H2H Global Gaming League hosts more than 150,000 esports events per year, and the deal with bet365 will begin by offering Ebasketball to the list of options for sports betting in New Jersey.
"The United States is the second-largest esports market and fastest growing sports betting market in the world," said Michele Fischer, Vice President of SIS Content Servies. "We are ecstatic to be able to launch SIS’ esports offering in New Jersey, which we see as the first milestone in our strategy."
Jersey (e)shores
Esports involves contests using video games as the competition between teams or individual players. Most commonly seen in tournament fashion, the growth of esports during the pandemic helped fuel the increase in both the size and money involved in various global events.
Some of the most popular video games played in these events include Dota 2, Fortnite, Counter-Strike: Global Offensive, League of Legends, and Arena of Valor. Combined, these five games alone have dispersed more than $500 million in prize money to participating players in the various tournaments held around the world.
Wagering on esports has been legal in New Jersey since it became the first state to offer legal sports betting after PASPA was repealed in 2018. Current regulations, consider esports betting as a casino game, available only through online casino applications — but in September, a new bill was proposed that would reclassify esports in New Jersey.
In both the state’s Assembly (A-637) and Senate (S2986), these pieces of legislation would allow esports to be considered a separate "internet gaming" betting option, and provide for additional betting permits and possibly esports-only sports wagering licenses.
Attacking a niche market
For bet365, this is a chance to capitalize on a growing niche market — and a new (and younger) demographic of potential users. In March, it was estimated that close to 500 million people will consume esports content worldwide this year, with global esports industry revenues to reach as high as $2 billion.
There are other operators, such as Rivalry, which are having success being primarily focused on the esports demographic, but bet365 is a larger, much more established brand to plunge into expanded esports offerings.
The UK-based bet365 has been operating globally for more than two decades, and is now currently active in three regulated North American markets — Colorado, New Jersey, and Ontario — with expansion into Virginia and Ohio expected in the near future.
"We believe our end-to-end Competitive Gaming solution provides everything that a sportsbook needs – including the highest levels of integrity, frequent events, and superior margins," said Richard Ames, CEO and President of SIS Content Services. "We have made good progress to date in U.S. with SIS Content Services Inc. and this new deal with our long-term partner bet365 is further evidence of our products gaining traction in this key market."
