Over the past few years, the esports industry has grown, taking the world of entertainment by a storm. The revenue of what seemed like an excellent pastime activity for kids in the 80s and 90s is expected to surpass $214 million by 2020. As a result, brands across the spectrum are finding ways to venture into the sector to market to the young, tech-savvy and affluent esports fans.
Together with online casinos, esports has become one of the fastest-growing divisions of online gambling, catching the attention of many punters. But how is this multi-million dollar global steamroller related to online casinos? Keep reading to find out.
The Rise of Esports
The gaming industry has throngs of fans worldwide who take part in both single-player and multi-player games. Many of these participate either for competition or for fun. As these online gamers come together virtually, they make some games popular that they are now referred to as sports. These sports are played for competition and are known as esports.
Despite its recent popularity, esports was conceptualized decades ago, with the first recorded tournaments being played at Stanford University. The Atari games hit the scenes in the 80s and attracted over 10,000 competitors. In the 90s, LAN parties emerged whereby hundreds of gamers gathered in a room, connected their computers to a network, and compete against each other.
Eventually, the increase in speed and popularity of the internet made esports the go-to tool for gamers. Today, video games attract a massive online community from all over the world, belonging to different age groups and social classes. Consequently, the industry has been monetized, and some skilled gamers make a living participating in these esports tournaments.
Esports and Online Betting
Most esports tournaments are broadcast live on TV, attracting an enormous following and more viewership than popular sports like the NBA. This creates an opportunity for betting platforms such as ComeOn casino live to provide punters with a chance to bet. In this case, you place your bet on the outcome of the tournament the same way you bet on football and athletics.
Esports betting has a huge fan-base, which is expected to grow in the future due to the following reasons:
- It’s anticipated that esports betting will generate more revenue in betting than it would as an industry. This speculation is coming from the fact that other sports gather more revenue from gambling than in selling tickets, merchandise sales, advertising, and other sources.
- Esports attracts viewers with substantial disposable income, hence disregarding the old opinion that video games are for idlers. People from all walks of life enjoy video games and esports, and attracts a loyal audience who offer an optimistic look towards the future.
- The majority of the esports enthusiasts are millennial, the generation that grew up playing video games and is hence more genuine about the industry. Millennial have a long earning life ahead of them, thus more promising years for esports betting. Besides, they are not merely spectators of video games but enthusiasts, which means they are likely to venture into the industry at some point.
Possible Challenges Esports Industry Needs to Overcome
As promising and bright as the future seems for the esports gaming industry, it’s relatively new. Just like any other new industry, there are several hurdles it must overcome, and these include:
Many countries are strict about online gaming. Since esports is entirely online, gamers and bookmakers alike, have regulations to worry about. For instance, gambling is restricted to adult players only. The problem with this rule is that most online video game fanatics are youngsters under 18 years.
When playing online, kids can manipulate the requirement by using their parents’ information to create accounts. Therefore, online casinos offering esports betting need to find ways to manage and regulate their players to abide by the law.
Many players use cheating technology when participating in an esports tournament. Esports tournament providers need to be vigilant in inspecting keyboards, mice, smartwatches, and digital devices before players start the match. When conducting the competitions online, bookmakers need to use artificial intelligence to detect competitors using cheating technology such as bots and hacks.
The rate at which esports betting is growing is an indication that it’s the next big thing in gambling, spectatorship, and entertainment industries. As more viewers start enjoying the tournaments, the more likely they’ll want to make money out of it. On the other hand, the gambling industry will support the move wholeheartedly, making it a wise idea for gamers to familiarize themselves with esports betting.