Is 2023 the year esports betting steps into the mainstream?
Dec 18, 2022
Esports has boomed over the past decade. The first esports competition was held on October 19, 1972, at the University of Stanford, where students competed in Spacewar.
The first event with notable prize money was held in 2005. The Cyberathlete Professional League had a prize fund of $1 million. The game of choice was called Painkiller. The series was held across ten different cities around the world before finishing with an MTV broadcast final in New York City.
Legalization of gambling
In 2018, the Supreme Court decriminalized gambling, leaving it up to each state to decide whether they wanted to legalize the practice. Ever since that decision, the gambling industry has gone through a boom in the States. It’s strange to think that a country with such a rich history in gambling would be so far behind the rest of the world when it comes to sports betting and online casinos. However, the US is doing its best to rectify this.
Sports betting and online casinos are being legalized in an increasing number of states. New Jersey is one of the states leading the charge, with more set to follow. You can check out some mobile betting apps on websites like gamble-usa.com to see what offers are available to you.
Esports betting is legal in most of the world, but the US hasn’t jumped. You can only assume it’s simply a matter of time, though.
Increased popularity of esports
The popularity of esports has skyrocketed in recent years, and the prize money has increased significantly. Esports is now a multi-billion dollar market, attracting investors from all sectors.
Esports is so big that you’ll find young people quite often enjoy watching others play games as much as they enjoy playing themselves. Platforms like YouTube and Twitch have given streamers and content creators the space and platform to broadcast their gameplay live, with millions tuning in to watch their favorite player’s games.
It’s a new trend that is confusing to older people, but it is only becoming more popular.
In European soccer, most of the major teams also have esports teams. European royalty like Barcelona has esports teams competing in FIFA, eFootball League, Rocket League, Fornite, and League of Legends competitions. Their esports professionals are paid eye-watering sums, something that would have been unimaginable 30 years ago.
Gamer streamers, such as Ludwig Ahgren, produce some of the most in-demand content in today’s market. They’re hugely popular, bringing in billions of views and more eyes than ever to video games. Video game makers have taken note and started to understand the promotional value of streamers.
The most popular streamers often help dictate what the most popular game is. This is something that has seen gamers link up the gaming companies to help promote new games.
Heroes to the youth
Esports stars are as big as any other star in this day and age, idols to the youth and paid as well as athletes. Once considered to be a niche market or a passing fad, esports are here to stay. It is one of the most interesting growth markets, with more money being pumped into it every year. The old saying “you’ll never make any money playing video games” doesn’t ring true in 2022.
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