ESIC Signs Agreement with the Gambling Commission on eSportsPublished May 31, 2017 by Florin P
ESIC and the UK Gambling Commission sign major agreement aimed at making the eSports industry safer and mitigate the risks of fraud.
The growing popularity of eSports didn’t go unnoticed by the regulatory bodies. The Gambling Commission regulates commercial gambling in the United Kingdom and it is now ready to undertake the task of regulating electronic sports. The information sharing Memorandum of Understating signed with ESIC will help them identify any problems within the eSports gambling industry. This is the second agreement initiated by ESIC after signing a similar accord with the regulators in Nevada.
eSports are popular on both sides of the Atlantic and the number of people who play video games professionally is on the rise. ESIC has a lot of experience in this line of work, but it will also benefit from gaining access to the intelligence provided by the UKGC. The entire eSports community is also expected to benefit from this agreement, which has the merit of keeping it safe from fraud and organized crime. Wrongdoers have also noticed the rising popularity of eSports and try to tap into its great potential.
Improving the Integrity of the eSports Gambling Industry
Gambling on the most prominent eSports events is a byproduct of the popularity and competitive nature of such matches. Within UK borders, more people bet on video games than ever before and this makes it essential for the industry to be properly regulated. The United Kingdom Gambling Commission has a wealth of experience when it comes to betting on conventional sports, but can definitely use the expertise of ESIC.
Their new partners will issue guidance notes to members, in an attempt to better explain the implications of this agreement. The unique challenges that eSports gambling pose to the entire betting industry require cooperation between the most important players. This agreement proves the willingness and commitment to deal with integrity risks and the threats posed, before these issues run rampant.