With all major sports leagues now shut down, more and more people around the country are beginning to look at different ways to place bets. To the disappointment of many, it may be months before any leagues begin operating again. This week, more Esports betting options officially became available in the state of Nevada.
Over the past couple of weeks, Esports betting has grown more and more popular. This is especially true in Nevada, where all casinos are currently shut down. Today, we’re going to look at some of the new “sports betting” options that have just become available here.
Let’s get into it!
Esports Are Growing More Popular Every Week
Back in early March, all of the top sports leagues in the country began discussing plans to close down. The new coronavirus had quickly begun spreading around the United States and several professional athletes had already tested positive. Many state leaders began supporting the decision for sports leagues to shut down their operations.
Eventually, the NBA announced it was suspending its season. The NHL followed shortly after. Then came the NCAA basketball tournament and before long, every single sports league was shut down.
It’s been frustrating for many people stuck at home, unable to watch their favorite sports. Right now should be a great time in the sporting world. For this reason, several smaller competitive events have started to grow more popular.
This includes Esports. For those who are unaware, Esports are multiplayer video game competitions. There are a huge number of Esports tournaments taking place around the world every single month. More people are now choosing to place bets on these tournaments.
Even some state gambling commissions are now getting on board with this form of gambling. This week, several officials in Nevada passed a measure to allow more Esports betting options. Here’s what we know about this situation.
Nevada Gaming Control Board Approves More Esports Betting Options
Nevada is in a tough place right now. For weeks, all of the state’s casinos have been shut down. This has proved devastating for cities like Las Vegas, which rely heavily on gambling revenue. According to some reports, Nevada is actually the worst-affected state in the country in terms of economic impact.
Leaders of this state are working hard to obtain revenue from the gambling industry. This includes approving new forms of sports gambling. This week, the Nevada Gaming Control Board began allowing wagers to be placed on three Esports betting tournaments that are taking place right now.
This state government body officially approved bets on the 2020 League of Legends European Masters tournament, the 2020 League of Legends European Championship and the 2020 North America League of Legends Championship Series. With these three new tournaments, Nevada has now recently approved seven Esports betting options over the past month.
It’s unclear how much sports betting revenue is coming in right now. Even the top sports commissioners in the country cannot say when major leagues will start operating again. In time, Nevada may start approving even more unique forms of sports betting.
It’s a very difficult time for the land-based gambling industry around the country. Nevada is one of many states currently suffering from the casino shutdown. Some experts now believe that Macau may be the key for many casino companies to get past this pandemic.
US Casino Companies Are Starting to Rely on Macau for Revenue
Las Vegas and Macau are two of the biggest and most profitable gambling destinations in the world. Unfortunately, both of these cities have been heavily impacted by the coronavirus over the past few months. Macau, however, seems to be recovering already.
As the coronavirus began spreading throughout China, officials in Macau were forced to close down their gambling venues. This caused many companies (including some based in Las Vegas) to start losing millions of dollars every single day. China’s rates are now lower than in most other parts of the country and Macau’s casinos are once again up and running.
That doesn’t mean things are back to normal here. In fact, revenue in the city is lower than it has ever been. Many of the top Las Vegas casino companies here still believe that revenue in the city will be extremely important. It’s almost guaranteed that this city will earn more than Las Vegas over the next few weeks.
Many analysts believe that Macau will be an extremely important city for Las Vegas casino companies, as well. If revenue begins to increase here, it will quickly become one of the most profitable gambling destinations on the planet.
No one knows how long the casino industry will remain shut down for. To earn more revenue, some casinos are offering more Esports betting options. Some believe that Esports betting will become an extremely profitable form of sports betting for many companies.
Stay tuned for more Las Vegas gambling news over the next few months!