Tomorrow, New Jersey's #1 best performing casino the Borgata will officially open its sports betting parlor to become the first casino outside of Nevada to launch sports betting. Earlier this week, NJ Governor Phil Murphy signed legislation to legalize sports betting in the State of New Jersey, which was made possible after a major supreme court ruling last month that eliminated the monopoly that Nevada had on sports betting. The provisions of the bill allowing for online sports wagering won't take effect for another 30 days, at which time the Borgata is expected to launch online sports betting.
As nearly all U.S. states rush to legalize sports betting, states are using it as an opportunity to review and re-write decades old laws covering the rapidly growing eSports market, where sports fans compete against each other for real rewards and prizes. The U.S. eSports market is booming, with viewership of eSports already higher than the NHL and expected to surpass viewership of both the NBA and MLB by year 2020, to become the second most watched sport after the NFL!
The U.S. eSports market is already generating annual revenue of $906 million and is projected to grow by 22.12% per year to reach annual revenue of $1.65 billion in 2021!
As each individual U.S. state passes its own unique eSports regulations, it will become extremely difficult and costly for eSports companies to comply with laws on a state-by-state basis. Only one platform exists that allows eSports companies to match a winning player's characteristics - age, location, favorite brands - with prizes that are legal in their jurisdiction of play, raising the stakes no matter where they're playing. The developer of this platform is a publicly traded small-cap company trading for less than $0.40 per share and already its technology is being used in one of the world's most popular eSports mobile games - for one of the world's largest sports organizations.
NIA will be announcing this company as its #1 eSports stock suggestion as soon as the market opens at 9:30AM tomorrow morning!