Many things have changed in the esports betting industry since the coronavirus pandemic broke out.
It was a double-edged sword where demand for and viewership of esports content grew, while events were cancelled en masse. A lot of people decided to try out betting on sports simulations, but some of the biggest gains came to untapped areas with questionable long-term futures like iRacing.
Popular esports such as League of Legends, Dota 2, and Counter-Strike still benefitted as well, but now there was a new type of bettor that the industry had to pay attention to. It also changed the usual spotlight that these three games had.
Sponsorships also saw some interesting shifts, with non-endemic brands finding more interest in esports as things continued on in the space while traditional sports were halted, even as esports-endemic brands floundered to some degree. While some of the most valuable esports companies started increasing their annual revenue, others weren’t as lucky with smaller organizations feeling the pinch of the economic downturn.
So, what can we expect to see from the esports betting industry in 2021? Let’s take a closer look.
Betting sites already major sponsors, but only getting bigger
Those who enjoy esports betting and those who want to get into it have greater opportunity to do so as esports betting is set to be made available in more regions. Brands like Betway and EEG were already major players in esports, sponsoring a long list of organizations and events.
On the other hand, EEG has been around esports from the beginning and is taking a different approach to expanding its presence in the industry. EEG is currently working with Oxygen Esports towards creating an AI-driven FPS coach for those looking to become professional gamers.
Esports betting looks to have strong future
Though 2020 was an up-and-down year for esports, it still enjoyed upward growth and looks to continue that moving forward. It doesn’t mean that people will stop visiting luckypennsylvania and other older betting sites, but that all of these websites will include esports in the future.
The future will bring more tournaments, partnerships, and a closer integration to both traditional betting and traditional sports. Since Esports is still relatively new, it’s also expected that established companies will direct their efforts towards new investors, especially from the area of traditional sports like NFL, NBA, and NHL.