For the eSports industry, it has been a successful last few years. Esports boasts global tournaments worth millions of dollars, and revenues unseen before, making it a legitimate and lucrative form of entertainment. Simultaneously, eSports betting has blossomed in parallel, offering a new way for fans to participate and make profit from their favorite games. Earlier, betting on sports was just about placing wagers on games like football and basketball. However, eSports has now become a major contender.
A Growing Global Phenomenon
As per the 2024 estimates, the worldwide revenue for the eSports betting industry was $2.61 billion. From technological advances to access to a high speed internet, there are numerous reasons which have fuelled this growth.
Back in 2010, Pinnacle was the first platform that offered betting on eSports. It ran steadily for a while but then really took off once COVID hit about 2020. But it also created space for more specialised esports bookmakers and major traditional betting operators to spring up.
Key Factors Behind the eSports Betting Boom
Undeniably, the boom in eSports betting has been associated with several reasons. However, the few crucial ones are:
1. The Digital Nature of eSports
Unlike traditional sports, eSports is all digital, and it’s this digital first nature that is helping eSports embrace online betting quickly. eSports fans are already used to using digital platforms, from watching live streams on Twitch, to playing on your PC or console. The ease at which technology blends into the betting process means that it is a cakewalk for bettors to place wagers with the applications or sites without having to leave their seats.
3. Diverse Betting Options
One of the biggest lure of eSports betting is multiple options. Not only you can bet on bigger results like an outcome of the entire tournament but also on minute details like first kill in a CS Game or the first tower destroyed in a destroyed in a League of Legends game
3. Increased Engagement and Viewership
Many esports have a massive and loyal fanbase. Reports further indicate that the global audience is likely to exceed 450 million people in 2025 for eSports. This growth runs in correspondence with the betting industry as well.
The Role of Streaming Platforms in eSports Betting
Streaming platforms including Twitch and Youtube have equally contributed to the rise of eSports betting. Aside from live broadcasts of eSports events, these platforms allow fans to interact with players. It has also built a community around competitive gaming, and the betting market is finding it lucrative.
Modern technology brings the game, the viewers, and the market in this digital era together, betting on sports. The few most notable games are Counter-Strike 2, League of Legends, Call of Duty, Dota 2, and Valorant.
The Legal Landscape of eSports Betting
However, betting on eSports is booming, but it has its own regulatory challenges. As such, the gambling industry has undergone continuous development, which means that betting operators have to face a wide expanse of laws and regulations.
Compared to the rest of the world’s sports betting markets, eSports betting is still far from regulation, meaning match-fixing, amongst other things, still persists and there isn’t a clear legal landscape to base passion around it. While crypto legions cannot practically punish offenders with fines, strikes, and temporary bans, regulatory bodies like the Esports Integrity Commission (ESIC), for instance, are helping legitimize the market, in any way they can.
The Multi-Billion Dollar Industry!
Considering the present expansion rate of the internet, the future of eSports looks bright. As per the experts, the industry is likely to have over $4 billion revenues by 2027. Moreover, live streaming, real time analytics and in game betting are set to provide further expansion of the sector. Also, with the growing industry of gaming, betting will become more immersive, incorporating Virtual Reality (VR) and Augmented Reality (AR) to further entertain fans with an even more immersive journey. With that, eSports is becoming a big player in the sport of sports betting.
Frankie Wilde – is a content writer at various gambling sites. Also, he is a passionate traveler and a great cook. Frankie shares informative articles with the world.
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