Seth Schorr with Anthony Gaud at the Casino Esports Conference in Atlantic City
A year ago, Esports Entertainment Group announced to considerable fanfare that it had become the first esports betting platform to be green-lit by regulators in New Jersey. For the first time, Jerseyans could place bets on approved esports competitions through its VIE.gg business.
In a matter of months, that betting platform was completely defunct. The company’s esports wagering system was shut down in its three main markets: Spain, the U.K. and, of course, New Jersey.
What happened?
According to those still invested in the sector after the void created by the collapse of New Jersey’s first highly touted esports wagering vertical, here’s what didn’t happen: Esports betting itself didn’t flop.
In spite of the failed first go at it, Anthony Gaud, founder and CEO of Atlantic City-based G3 Esports, said there will be another firm that will establish a foothold in a space that still holds promise in New Jersey (and, by the way, he’s hoping it’s his).
“It’s not an easy space to enter,” he said. “But it is a space that someone will enter.”
Gaud said there are “a lot of groups,” although he couldn’t talk specifics, across the gaming sector and other industries, that are vowing to do what they can to ensure the long-term success of the state’s esports wagering enterprise.
It’s a highly desired space, he added. It’s also a highly regulated one, and new enough to require a massive investment into marketing. Gaud implied that Esports Entertainment Group didn’t account for that.
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