As technology becomes more advanced, a lot of things that we never dreamed about just 50 years ago (like video games) are now commonplace. And not only has video games exploded, they’ve spawned an entirely new way of thinking about sports. For instance, based on information from industry experts, Esports betting, or betting on computer game tournaments and competitions, is expected to generate billions of dollars in the next few years for sportsbook operators.
There’s no denying it, the e-sports industry is huge and growing by leaps and bounds. In fact, based on information from market research firm Newzoo, the sector generated over 300 million dollars in revenue for advertising, merchandising, media rights, and ticket sales.
This amazing popularity has sparked overwhelming interest for betting on these types of competitions. For instance, based on data from market research firm Eilers, bettors are expected to wager around 23 billion dollars on e-sports by the year 2020. From this betting pool, operators would get a little under two billion dollars in Revenue.
Furthermore, based on information from online betting company Bwin, they are expecting that more wagers will be made on the upcoming League of Legends tournament than on who is set to win this year’s Champions League competition. This is based on the current popularity of e-sports and its rate of growth.
This information makes it clear that e-sports is now on par with some of the leading major sports, when it comes to interest, following, and viewership. In fact, you’d be hard-pressed to find an online casino Canada or bookmaker that doesn’t take e-sports wagers on a regular basis. And although this practice is still in its infancy, its popularity has already surpassed that of rugby, tennis, and golf. Furthermore, its popularity seems to grow by the day.
Still, there are some obstacles that operators must take care of beforehand which will allow them to take the necessary steps that ensure that will capitalize on this new mixture of gambling and gaming. For instance, as of right now, the key markets for e-sports are the United States and Asia – two regions with strict gambling laws. As a result, many operators flat our refuse to take bets from individuals who live in these countries.
Another obstacle that e-sports betting is set to face is the money that operators will have to spend on getting in front of a new audience. You may not think this is that big of an issue, but consider this: in order to have a successful marketing campaign you must know the demographic that you are catering to but, in e-sports, the core audience is not immediately identifiable. Still, getting a new audience for a sportsbook is never a bad idea.
Finally, there’s also the chance that e-sports will struggle to grow past its core audience of video game aficionados. The big issue with this particular scenario is that the very thing that makes it exciting to the people that love to watch it now may very well be the thing that turns off other audiences. Still, despite these obstacles, experts still believe that e-sports has tremendous potential as a betting portal. There’s no reason that it shouldn’t become a significant and profitable part of any sports books repertoire. E-sports tournaments are exciting, competitive, and fast-paced events, with a live crowd that helps to create atmosphere – just like they would at a traditional sports event like a basketball game or football matches.
What do you think about the future of e-sports betting? Is it something that you are interested in or do you doubt its viability? Don’t hesitate to share your opinions below. We look forward to hearing your thoughts!