Rapid Growth of ESports Betting

ESports, or electronic sports, refers to competitive video gaming events and leagues. In recent years, eSports has exploded in popularity, with revenues expected to top $1 billion in 2019 according to Newzoo. This growth has fueled a corresponding rise in eSports betting, as fans look to put money on their favorite teams and players. Online casinos have taken notice, and many now offer eSports betting as part of their gaming portfolio. In this article, we’ll explore the meteoric rise of eSports and eSports betting, and how online casinos are looking to capitalize on this burgeoning market.

New Generation of Athletes

Virtual Winamax deportes events and leagues feature professional video game players competing against each other in popular titles like League of Legends, Dota 2, Counter-Strike: Global Offensive, Overwatch, and more. The competitions usually take place in front of live audiences and are also live streamed to millions of viewers worldwide. The players are paid salaries and prize money, much like traditional sports athletes. And like traditional sports, eSports has teams, stars, leagues, tournaments, sponsors – even stadiums. The audience numbers are staggering – the League of Legends World Championship drew over 100 million unique viewers in 2018. To put that in perspective, that’s more than the viewership for the Super Bowl.

ESports Betting Handles Big Money

With such huge interest in eSports, it’s no surprise that eSports betting is booming. Total eSports betting handle is expected to reach $12.9 billion in 2020 according to Sharp Alpha Advisors. To give an idea of the growth – in 2016 the handle was just $649 million. What’s driving these numbers? For one, the Millennial and Gen Z demographics are big fans of eSports betting. In addition, eSports lends itself well to in-game betting, which appeals to bettors’ desires for instant gratification. Events take place year-round, so there’s always action. And with so many leagues, tournaments, and matches across multiple video games, there’s no shortage of betting opportunities.

Online Casinos Jump on the ESports Bandwagon 

Seeing the writing on the wall, online https://slotspeak.com/elk-studios/ have been quick to add eSports betting to their gaming menus. Providers like BetConstruct, EveryMatrix, and Kambi offer turnkey eSports betting solutions for operators. Offerings typically include pre-match and live betting on major eSports leagues and tournaments across popular titles. Live streaming and bonuses tailored for eSports bettors are also common. The ability to bet on eSports brings in new demographics of customers for online casinos, while also engaging existing players. As Millennials and Gen Z grow in spending power, eSports betting provides a crucial pipeline for acquisition and retention.

Challenges and Opportunities of eSports Betting

While the potential is huge, eSports betting does come with some particular challenges. One is the sheer number of events to track and analyze. With matches taking place almost continuously, extensive expertise is needed to set accurate odds and betting lines. In addition, some games feature very rapid actions that require dynamic betting options. There’s also the threat of match fixing, which has surfaced in some past eSports scandals. 

However, these challenges can be overcome. Advanced data analytics tools can help parse large volumes of in-game data to gain insights for oddsmaking. Machine learning algorithms can model different match scenarios and detect suspicious betting patterns. Streaming tools give bettors up-to-the-second action for in-play betting. If online casinos invest in the right technologies and talent, they can build a sustainable eSports betting product.

Projected eSports Betting Revenue Growth

Year	Revenue
2020	$12.9 billion
2025	$20.7 billion
2030	$31.5 billion

Future of eSports Betting

Most indicators point to continued explosive growth of eSports viewing and betting. More games are likely to become popular eSports titles, further expanding betting opportunities. Live, in-play betting will become even more common. And with 5G connectivity and virtual reality on the horizon, we may someday experience eSports events in immersive new environments. Online casinos that become early adopters of eSports betting will have a first-mover advantage. Those who wait risk missing out on the next big thing in gaming.

 

Last Updated on August 30, 2024