In the casino world, betting on esports has become a hot subject. This style of betting is now increasingly popular due to the widespread development of esports. Of course, in contrast to sports gambling, it still pales. Sports betting has the benefit of decades of existence or in an unchecked context, centuries even.
But in the last five years, esports gambling has developed exponentially. It’s now featured on the homepages once barely accessible on online sportsbooks. It’s worth asking whether esports wagering would overtake sports gambling in terms of betting value, with the growth of professional gaming. Let us analyse this by learning further about the success of esports and what could drive it to greater heights.
The Rise and development of Esports
In the past few years, any casual observer will see that esports or any virtual sports for that matter have become extremely popular. ESPN and other major media channels now feature gaming.
But just how big have esports been, exactly? Data from many agencies reveal that viewership of professional gaming has already surpassed the viewership of conventional sports.
The analogy of esports and athletic activities is not apples to apples, agencies warn. There are also plenty of “occasional viewers” of the former, who only log in once a month or less.
Nevertheless, 233 million followers suggest they watch more than once a month and are in the “enthusiast” category. By 2022, the viewership is expected to hit 297 million.
Esports vary from traditional sports because they are not related to a single area. Hence they target a genuinely multinational audience that ranges from Alaska to Washington state.
This contrasted with cricket betting, basketball betting or football betting which are popular in some countries.
The Birth of Betting in Esports
In the last couple of years, betting on esports has become very popular. However, it began some years back, long before competitive video games started to enter the mainstream. The only distinction back then was that most betting was conducted on an informal basis.
The practice of early esports betting was mostly carried out within the video game culture. There was no choice; no interest had yet been paid to professional video games by the bookmakers and betting sites, hence anyone wishing to gamble on events had to make private wagers with other people.
By then the video gaming world was very involved, and there were plenty of individuals eager to gamble. This made it comparatively straightforward for bettors to make their wagers. However, it was not an optimal method of betting. People had to rely on the sincerity and credibility of the people with whom they were betting, and the action they sought was never expected to get them. Eventually, the betting industry started to take note of the growing interest in esports.
Bookmakers have been eyeing esports
Sportsbooks are in the business of offering lines on anything their clients are going to wager on. If they get sufficient interest, they’ll offer lines on table tennis. Online bookmakers, therefore, had no trouble adding esports to the mix. The latter draws countless streaming viewers, after all.
At sports betting, the betting world once turned its nose up. Over the past decade, however, it has changed his tune. It is tough to find a sports gambling site today that doesn’t offer video-game lines. This is particularly the case when it comes to primetime events.
But just to offer esports betting, bookmakers don’t need a major championship. They offer esports lines on smaller events and leagues as well.
Esports Betting Strengthened by Health Crisis
Esports gaming was attracting up enough bettors before the worldwide health situation started to trigger concerns and close down sports leagues. It received an even bigger boost after the outbreak of the virus.
While the NBA, NHL, and college basketball shut down in the spring of 2020, bookmakers have nothing to give to gamblers. During this time, they began pumping table tennis for a lack of better choices.
With traditional sports leagues sidelined, Esports was a perfect choice for betting. Already famous at this time, during the pandemic, competitive gaming took centre stage.
The professional leagues are finally back in operation. Nevertheless, there were long-term consequences of the boost that esports gambling received during the pandemic. Many of the latest fans are holding on to this kind of wagering.
Traditional Sports do still rule the Betting Industry
The emergence of wagering in esports is a remarkable story. However, it still has a long way to go before having the clout that conventional sports have.
Since the Ancient Greeks organised the first Olympics, people have been wagering on sporting competitions. Over the ages, the betting world just got greater and more refined.
Collectively, people are wagering billions of dollars on baseball, hockey, soccer, football, and college games. When it comes to marquee games, such as the Super Bowl, World Series, and NBA Finals, they particularly bet big.
Once again the sporting landscape has slowed down dramatically. Many leagues, though, will ultimately get right into the groove of things. For the time being in terms of gambling scale, it doesn’t seem like esports are going to eclipse traditional sports. The first has too much history to pass right now as well as huge fan bases.
Esports betting still has incredible potential
For a lot longer than people know, Esports has been with us. The very first tournament was held in 1972, at Stanford University. In certain aspects, though, professional gaming is only now beginning to realize its capacity. Tournaments and championships attract more fans than ever before, while players earn their best salary to date.
Surprisingly, eSports have yet to achieve their goals. No one knows how much gaming is going to develop in the future. There is a chance that in betting activity, esports will potentially go over physical sports. We would not know of course, that this is the case until it happens.
Esports’ tendency to cross traditional sports is far from certain in terms of gambling. However, depending on the following three factors, there is a possibility of doing so.
1-Young spectators will join the betting market
- The regular sports fan falls into the category of middle-aged or even senior. For starters, the average NFL fan is 47 years old, and the median MLB fan at 53 years of age is even older.
- Esports enthusiasts are much younger, by contrast. The average fan in esports is just 26 years old. With this younger generation, it’s no wonder that there are plenty of people who are not old enough to gamble on esports.
- The same gaming addict would soon be mature enough to bet. They will raise the number of available bettors as this happens.
- What’s more, esports will continuously attract more young fans who will begin putting wagers. The same young people may not be so keen on wagering money on athletic activities.
2- Esports is best suited for the modern era
- The choices for positioning wagers were very small a few decades ago. Today because of online betting, things have changed significantly in this respect. No matter where you live you can easily locate an online sportsbook and start betting.
- Most bettors have adapted to this style of gambling. However the old-fashioned way, a few holdovers who love visiting sportsbooks and betting shops (UK) also do stuff.
- Esports, on the other hand, is not a form of competition that is old-fashioned. It refers to young gamblers who have grown up in the modern era and put wagers online exclusively.
3- Growth of the video game industry
- It could seem like video games are at the point that they can’t develop any more. Billions of people around the world purchase consoles, computers, and handheld games, after all.
- It’s no wonder that some of the same players still tune into esports, given how much people love games. Amazingly, though the number of video game players and, consequently, fans of esports can only rise.
- Data from many surveys suggest that for the next few years, game revenue will continue to grow.
- In 2020, the worldwide gaming industry was estimated at $167.5 billion. From 2020 to 2027, the demand is projected to expand at a 12.9% pace each year. Global game sales could reach $291.16 billion by the end of this range.
- In the world economy, approximately half of these transactions will arise. However, the other half will be divided around the console and device markets, all of which contain the esports industry.
- Again, casual fans will turn into enthusiasts of esports and begin betting on the pros. That said, more video-game purchases are going to lead to more fans of professional gaming.
Esports betting is reportedly behind conventional sports gambling by a significant margin. Esports, however, are increasing in terms of viewership and success at an accelerated pace. When accounting for all TV and live-streaming services, they still attract more foreign audiences than sports. Esports just don’t have the kind of enthusiasts, though who gamble on matches daily.
But in the next decade or so this situation could change. For instance, global interest continues to be garnered by professional gaming as a whole. Regularly, hundreds of millions of stream esports contests and that audience will only continue to expand. That presumably means that it’s only a matter of time before you can put your sports bets at your favourite online casino like Winissimo.
Esports still have a lot of undiscovered capacity and with each passing year keeps attracting fresh audiences. They also draw younger fans who are not old enough to bet, either.
In short, the jury is out on whether it is ever more popular than athletic sports betting. The opportunity remains, though that esports betting will rule supreme in the future. It may not be the only future of online gambling to gambling on esports, but you can see it being a bigger and greater piece of the puzzle.