As eSports Betting Explodes, Does It Need To Be Regulated?

There is no doubt there has been a huge growth in eSports betting in the last 5 years, which as a result has piqued the interest of celebrities, investors and major players in the gambling industry to get involved. Has this exponential growth created a monster within the industry?

There have been critics out there that have suggested that there could be a lack of credibility when it comes to eSports betting, and that incidents such as match-fixing has resulted in players not wanting to get involved. There have been some software developments, such as the increase in the waiting time to make transactions after trading, which has stopped the manipulation of the marketplace and also had an effect on betting in general.

UK Gambling Commision

The UK Gambling Commission who fully regulates all types of online gambling intervened earlier this month issuing a report touching on crypto currencies, eSports, possible improvements for regulating online betting and player protection.

Their opinion was that eSports is no different to placing a bet on any sporting event. The risks that need to be managed are exactly the same with any other sport which of course includes the risk of cheating and the concern that people may start gambling excessively. They also reinforced that no provider can operate without a gambling license and the failure to gain one before allowing transactions on their sites could result in criminal proceedings.

It is obvious by the current trend that eSports betting is something that is ever-growing and there is no getting away from it. We are sure over time there will be more rules and regulations regarding match fixing and preventing underage gambling, but is it really that different from betting on sports like snooker or football? The UK Gambling Commission thinks not.