As the eSports industry grows in stature and fan base, the accompanying eSports betting market is rapidly expanding too – and with it, a serious need for regulation in order to safeguard the interests of both eSports players and bettors. This article will explore the various facets of regulation for the rapidly maturing eSports betting market and the benefits of each. The regulation of eSports betting has been growing in recent years, as the popularity of eSports has increased and the industry has become more and more visible. With more people placing bets on competitions, potential operators are subject to a range of regulatory requirements.
When it comes to the regulation of eSports betting, it seems that the focus is largely on protecting the integrity of the competitions. This includes dealing with match fixing, protecting players’ rights and preventing money laundering, all which can have a detrimental effect on the competition’s credibility.
To this end, some eSports governing bodies such as the Electronic Gaming Federation (EGF) have launched an anti-corruption initiative, which works by having an independent observer attend tournaments and issue official rulings in the event of any suspicious activity.
Additionally, some eSport competitions have implemented their own regulation. This includes the ESL Pro League, which requires all players to adhere to strict anti-doping rules, as well as the use of Random Number Generation (RNG) technology to ensure fairness.
Finally, online operators are typically subject to licensing requirements, which means they must comply with laws on money laundering and the protection of customers’ funds. Generally, these will vary depending on country and jurisdiction, but overall they are aimed at ensuring fairness and transparency.