It seems that sports bets in the Keystone State are not enough for at least one legislator there. Representative Ed Neilson believes that Pennsylvania esports betting will be the next big money maker, and that the activity could quickly be legalized and regulated there.
According to an article in Fortune Business Insights, the he esports industry has now grown to a value of over $1.2 billion annually, and continued growth could see the business reach to $5.5 billion over the next five to six years.
Neilson’s comments came while he was speaking at the Casino Esports Conference in Atlantic City just over a week ago. He added that a new, multi-million dollar esports facility was already being built in Philadelphia, where events such as video game tournaments could be played.
The interest in Pennsylvania esports betting is not a new thing. Other states, like Nevada, have already begun to move toward embracing the activity and regulating gambling on the outcomes of games. Seth Schorr, chairman of Las Vegas Downtown Grand Casino, recently said that “Esports is only going to get bigger. It’s not a fad.”
Additionally, a deputy attorney general with the New Jersey Division of Gaming Enforcement added that more states need to consider the regulation of betting on video game contests, thus helping to make sure that the outcomes are honestly and transparently.
This new push for Pennsylvania esports betting comes as the state Gaming Control Board announces the reopening of the bidding process for online gambling licenses for traditional casino games. That process will run through March 3rd of this year.
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