Ever since online gaming entered the scene, the whole gaming community started a trend of online gaming competitions. This community and competitions grew so much and have taken over the world rapidly and as a result we today have esports.
Another industry that has arisen from this trend is esports betting which today is a huge industry. Fans adore esports games and thanks to them and some great esports teams, the betting on this industry has become a huge trend in the gamgling industry, especially in 2020 when sports events were lacking.
The esports fanbase is not the only factor that makes the betting industry grow. In 2019, the esports betting industry was worth around $1 billion. The gambling industry recognized this potential and some experts even calculated that this number might even double in the next couple of years.
Market research shows that this number could go way beyond that by 2025 since the industry is growing rapidly. According to the Market Insight Reports, esports betting market will have a CAGR of 13.1% in the next five years. This means that this market’s worth is expected to reach over $13 billion by 2025.
Since the industry keeps growing quickly, esports betting easily became one of the favorite types of entertainment in the world. The community is also expanding. Since 2018 the number of fans has grown from 170 million to over 250 million.
During 2020, this industry recorded millions of new viewers and users, and, according to the UK Gambling Commission, the growth rate increased by 29.92% during that one year. The most famous and successful gaming companies on the market right now are:
In the last year, some online gambling games suffered the consequences due to the growing esports industry.
Even though esports betting has still not reached its full potential, it certainly helped many companies on the betting market survive the 2020 crisis, due to esports being the only available sports betting option.
What is more, younger generations have higher interest in gaming, esports competing and esports betting, and that is why we today have many casino brands that offer esports betting.
In addition to younger generations and their interests, the high demand for new and high-quality entertaining games also directly impacts the industry’s growth and appearance of many casinos that offer this type of betting.
Something else that esports brought to us and will bring in the future are the new technologies. Many UK and US gaming companies are now investing more in esports technology and its development.
One such example includes new gambling features and new and easier ways to make deposits. Also, an esports wagering provider, Esports Technologies, has announced a patent license agreement to improve the cash-out features.
Many casino brands do keep up with this growing trend and try to stay relevant by strengthening their content and technological abilities. New and different products are constantly being offered by many casinos, including esports and how to bet on it.
With the focus being switched online, many esports tournaments have emerged because they are much easier to organize and they are less expensive. And with new tournaments in this competing industry come new chances to place bets and new teams to follow and cheer.
We have many different games and their tournaments, including PUBG Mobile, Counter-Strike: Global Offensive, Fortnite, Dota 2, Fifa 21, LOL, PES 2021, Apex Legends, and many other games. They have also taken over the betting market in their tournaments, such as:
In just a few years, the esports industry has managed to bring some incredible changes to the entire market of online gaming. And with the industry still growing, we can expect many new technologies and trends in online betting and online gaming in the future.