Is the eSports Industry Past Due for Regulations?
eSports gaming is wildly popular. The brilliant concept of wagering on eSports taps into a huge youth market that grew up on competitive gaming. While the platform for eSports may be virtual as opposed to taking place on a field, the outcomes are not predetermined. There are top stars in the eSports world. All of this creates a great opportunity for wagering. Unfortunately, eSports wagering is not regulated in the same way traditional sports are. As such, various issues are raised about the ability to keep the eSports wagering world on the same honest track of traditional gambling endeavors.
The rush to capitalize on the popularity of eSports should not surprise anyone. Sportsbooks and Casinos across the world choose to integrate eSports into their offerings. A lot of money ended up being made by the savvy professionals who truly knew what to do with the eSports gaming phenomenon.
The daily fantasy sports (DFS) industry does show some of the problems with a clear lack of regulation. Scandals surrounding insider trading emerged and caused embarrassment and other more serious issues. Regulation is often perceived as a stumbling block that hampers businesses. Poorly devised laws may yield such an outcome. Effective consumer protection and other regulations that support the health of the industry are surely helpful. Laws curtailing insider trading are not likely very bad.
Fans and gamblers are quick to point out eSports and DFS are two totally different industries. This is true, but the two industries do share similarities. Any and all gambling endeavors should come under some oversight. Reasons exist why online casinos require licenses from established gaming authorities to maintain credibility. Customers do not want to experience horrible customer service and terrible rip-offs. A casino that bears a viable and legitimate license boost confidence. Oversight by serious gambling authorities ensures certain rules are followed. Ultimately, this helps the consumer.
eSports needs more regulatory oversight that would duplicate the stability found in most online casinos and sportsbooks. The eSports gambling world is hardly a small one. $8 billion dollars is wagered on the many eSports annually. With such incredible numbers, there does need to be serious regulatory oversight. The quicker enhanced regulations are instituted, the less of a chance a serious scandal ends up emerging.