Esports Gets Legalized Sports Gambling

CREDIT: DAN STEINBERG/INVISION FOR NBA 2K/AP IMAGES

Unikrn, a company that wants to fuse esports wagering with blockchain, had its wagering license approved by the Isle of Man on Tuesday, according to the Associated Press. Now, users can legally gamble on competitive games on the betting platform.

Unikrn has already rolled out online products to 20 countries and will soon offer esportswagering to most of Europe, parts of Latin America, and South Korea. Previously, Unikrn could only offer real-money esports wagering in the U.K. and Australia.

Certain types of esports betting will also be available in the U.S., the AP reports. Skill-based betting, which allows players to wager on their own abilities in games like “Fortnite” and “PUBG,” will go live in 41 states at an unspecified date. U.S. esports fans will have to wait longer for spectator betting.

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Nevada is currently the only U.S. state that allows a variety of sports betting, but that could soon change. Earlier this year, the Supreme Court struck down the Professional and Amateur Sports Protection Act (PAPSA), potentially paving the way for more states to offer wagering on traditional sports and esports.

Established in 2014, Unikrn has raised millions from investors like Dallas Mavericks owner Mark Cuban and actor Ashton Kutcher. It’s reportedly the first wagering company in the world built entirely on blockchain.

A class action lawsuit filed against the company earlier this year alleges Unikrn sold unregistered securities when it offered its UnikoinGold tokens to the public, but the company told the Associated Press there’s “no merit” to the suit and called it “very frivolous.”