The competitive video gaming industry is set to surge in popularity over the coming years, and will be worth around $1.9 billion by 2023 according to many gambling experts, including the analysts at SuperData. Kicking off in the early 2010s, eSports’ performance as a form of gambling has also skyrocketed, so much so that eSports betting is set to surpass many other popular forms of sports betting in the near future as well.
The competitive gaming landscape has become a favourite playground of mainstream gambling brands and advertisers, many of whom have invested millions into the market this year alone. SuperData reported back in 2015 that the industry had already grown to a respectable $748 million value, with eSports betting websites contributing about 55% of that figure alone.
The research firm expected around $150 million to be injected into new betting platforms for the industry this year, but unfortunately, many of these sites fell short of its expectations. Apparently, eSports bettors are still more comfortably wagering on virtual games like Daily Fantasy Sports than real-life tournaments like eSports, which has slowed the growth of the market somewhat.
Despite this, the eSports betting market is still flourishing, and it is anticipated to do so well into 2023 and beyond. DailyGame.net has estimated that eSports has a dual appeal that works in its favour, as punters do not necessarily need to be video game fans in order to enjoy wagering on this particular market, thus providing punters with the best of both worlds.
The betting experts noted that eSports betting may not ever entirely surpass the popularity of sports betting, considering that the latter offers a myriad of different sports markets to choose from. However, on a one-for-one basis, eSports is certainly a competitor to many major sports markets like football and rugby, and many online bookies are beginning to offer eSports bets and odds as a result.
Also, considering eSports’ massive surge in popularity and value over the course of 2023, it is highly likely that this growth trend will continue throughout the coming years. Bookmakers have also increasingly turned to the competitive gaming industry to appeal to Millennials, who have grown up with video games and tend to gravitate towards this market due to its familiarity and excitement.
Furthermore, as new games are released and video gaming devices become more technologically advanced, eSports (and eSports betting) could see some interesting developments in the foreseeable future. For now, however, eSports betting fans can rest assured that they will have more betting and sportsbook options than ever before as we head into a brand new year.
Source links:
https://www.casino.org/news/e-sports-to-grow-into-1-9-billion-industry-by-2023
https://www.dailygame.net/sports/will-esports-surpass-regular-sports-betting-popularity
