The esports industry generates more than $1 billion every year. A considerable chunk of that money goes into paying esports players, sponsoring events, and in-game cosmetic purchases related to the competition. But do you want to know what accounts for the other hundreds of millions? Betting!
Getting involved in the practice is easier today than ever before. Esports betting sites allow fans to wager on their favorite events and players. Seeing as the bets are easy to understand, more and more people are showing interest in placing wagers. So, what can be expected in 2022?
More growth in the metaverse
The metaverse could combine the best of the digital and online worlds. While it is a decade away from fruition, more work is expected to go into it. So, what will be different about gaming in the metaverse?
The biggest possible change would be in the spectator experience, as fans could sit in on a virtual event. But that’s not the only technology that will be in play. Fans can also expect to see more of emerging technologies like VR.
Given the global reach of esports, this could offer fans the chance to fully immerse themselves in an augmented reality with fans around the world.
Mobile betting is not new in the esports sector, but it’s set to become much better. Why? 5G-compatible phones are much more accessible now. That means that games can load ten times faster than they do on 4G phones in new markets.
More gamers will be able to watch events from the comfort of their phones. These developments definitely support projections that the global market is expected to reach a value of 2.89 billion in 2025, a compound annual growth rate of 23%. That’s a massive growth rate.
While women and girls have always played games, more and more women are joining the esports industry. Some are in it professionally, making a living from playing their favorite games, while others are working on the organizational end.
Alongside this is a greater investment into women’s tournaments. In the long term, this can increase the number of people interested in esports and, of course, boost the annual revenues.
As more people realize just how lucrative the esports industry has become, more investments are set to follow. How so?
- More esports betting sites will become available to more players,
- We can expect more esports titles in the coming years,
- Esports organizations will increase their funding in games.
- More government authorities will create platforms where esports tournaments can be held.
This all provides infrastructure that can keep capital moving in the industry.
Entry into newer markets
Some regions are new to the esports sector and predictions show that regions like Sub-Saharan Africa, Southeast Asia, North Africa, and the Middle East are set to grow.
Most people in these regions find it easier to access mobile phones than desktop computers and there has been an increase in competitive mobile gaming and betting. With more investments and awareness in these regions, the esports betting industry will benefit.