The Esports betting trend is quickly surging into the global betting arena. Over the past few years, the popularity of Esports betting has dramatically increased on a worldwide scale. According to recent statistics, the market value of Esports betting is expected to reach $1.81 billion by 2020. This may not seem like much compared to the broader sports betting market, which is currently valued at $155.49 billion in the United States alone. But, this is a drastic growth rate considering that the Esports betting market was only worth $24 million in 2015.
Esports betting may only be a small piece of the betting industry, but it’s now picking up the slack and may soon take up a significant share of the online betting market. What exactly is driving the sudden interest in Esports betting all over the world?
The Top Factors Driving the Continued Growth of Esports Betting
The rapid and frankly astonishing growth of Esports betting is worth exploring. Here are some of the main factors that are driving this popularity.
The Esports Industry Itself is Expanding
The Esports industry itself has been gaining momentum over the last few years. By 2022, the number of active and frequent Esports events viewers is expected to reach 300 million; this is a massive increase compared to the last two or three years.
The Eastern Asia region has been a hotspot for world-class Esports competitions, championships, and tournaments for many years. However, the Esports culture is spreading into new territories. Nowadays, Esports events are popular in North America, Europe, India, Central America, and even parts of the Middle East and Africa.
Moreover, Esports opportunities are now more rewarding than ever, with many players making lucrative careers out of Esports. Esports events usually have rigid financial backing from game developers and vendors. The growth of the Esports culture presents new and diverse Esports betting opportunities, which one of the factors fuelling its popularity.
More Bookmakers Are Posting Esports Bets
More and more bookmakers across the globe are continually featuring Esports in their daily odds. And with that, it seems that more and more people are now able and willing to bet on Esports. The growing demand for Esports betting has pushed many bookmakers to integrate Esports betting functions along with their regular betting features, seeing as to how Esports is now an accepted betting genre.
The availability of Esports betting events is now more reliable. In the past, major betting platforms only featured a few of the main events in the year, and with minimal betting options. Today the story is very different. Bookmakers create betting opportunities for just about every Esports event, including junior leagues and underground competitions. Even brick-and-mortar casinos carry bets for Esports events.
Some countries where betting laws restricted Esports betting have now become more lenient and accepting of Esports gambling. The passing of more accommodating legislation in some countries has put Esports betting in a new light – letting citizens know that it’s just as safe as regular sports betting and equally acceptable.
Extensive Media Coverage of Esports Events
Some Esports functions have become massive events that attract celebrities, public figures, and of course, a host of press and media personalities. Major league events usually get a lot of following and mainstream press coverage on cable TV, streaming services, and social media. Even grassroots Esports events get their fair share of media coverage and broadcasting.
Media coverage of these events drives awareness to the betting community. Esports betting platforms also take the opportunity to advertise their services to potential gamblers. Plus, in a way, watching Esports events on live stream makes them more relatable to regular sports, which are often broadcasted in the same way.
Esports betting is no longer just a fling in the global betting space. The accelerated growth of Esports Betting is rapidly building it into an influential segment of the betting industry.