- A new bill could allow sportsbooks to offer odds on esports events in West virginia.
- Esports Technologies expects a $70 million revenue pull in 2022.
CHARLESTON, W.Va. – Regulated esports betting is on the precipice of passing for West Virginia residents, thanks to a new bill.
The Bill In Question
The bill introduced last month meant to expand West Virginia’s legal sports betting market is House Bill 4826 and features a handful of sponsors.
HB 4826 provides a definition for esports, defining it as an “electronic sport or competitive video game played as a game of skill for spectators.”
This would allow officially licensed sportsbooks to offer odds on esports events.
Introduced by Moore Capito, HB 4826‘s sponsors also include:
- Bennett Queen
- Steve Westfall
- Shawn Fluharty
- Clay Riley
- Daniel Linville
- William Nestor.
The bill is currently on the desk of Governor Jim Justice awaiting final approval and the subsequent signature.
The Growing Esports Industry
Several other states such as Nevada and New Jersey already offer regulated esports betting and the demand for it is certainly growing.
Esports Technologies reported in a recent press release that they are expecting to generate over $70 million in revenue throughout 2022.
“As we begin a successful 2022, we remain committed to increasing our operational and financial performance. We expect to deliver consistent cash flow for the remainder of 2022 by growing esports revenue in regulated markets, as well as continued growth from our portfolio of online sportsbook and casino brands,” said Aaron Speach, CEO, Esports Technologies
The West Virginia sports betting market is looking like it could be the next state to regulate the esports betting industry, and allow more sportsbooks to offer odds on major events.
Esports has continued to grow in popularity so the practice attracted sports betting markets is no surprise. Should markets continue to see attention with locals betting on esports, more states could be inclined to join.
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