eSports Betting: The Billion-Dollar Industry

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Professional egaming has gone on to become another multi-million-dollar industry across the globe. Its meteoric rise is undeniable. Although it has been growing rapidly since its creation, the eSports industry and betting are expected to keep on growing at the same rate in the coming years.

The gaming sessions are streamed by millions of people who also love filling the arenas to watch players and teams compete for the grand prize.

The popularity of this spectator-friendly competitive gaming has made the tournament prize pools compete with that of the traditional sports! Even the Global audiences for eSports has quickly surpassed the hundred million figure.

The betting market on eSports is another that has been growing fast at the same rhythm as the game competitions. The bookmakers have recognized just how valuable this industry is. That is why they are offering plenty of betting odds and bonuses in the most popular eSports games bettors are interested in.

📱 🎮 💻 What are eSports?

The electronic games have been interchangeably called ESports, E-Sports, e-sport, gaming, eGaming, online gaming, Cybersport, and Virtualsports. The consensus now being either Esports or eSports is the correct way to write it.

eSports are nothing but organized competitions, where players from all around the world create their own teams and compete against other teams by playing multiplayer video games. Recent improvements in technology and internet connectivity have helped the eSports community to grow their players and audience base.

There are a variety of titles to play in eSports. First-person shooters like Call of Duty, real-time strategy games like Starcraft 2, or sports simulation like FIFA and Madden NFL. Then there are multiplayer online battle arenas (MOBA) games such as Dota 2 and League of Legends, or the most recent Valorant.

These are games that bring in the biggest crowds, and also have the highest prize purses. The top five are League of Legends, Counter-Strike: GO, Fortnite, Dota 2, and Overwatch. Consequently, all of them are also the most popular that eSports bettors choose to bet on.


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💻 The Popularity of eSports Worldwide

Well, we can go all day describing the popularity of eSports as there’s so much to share. According to Newzoo, one of the most important statistical agencies for games and esports markets, the global eSports audience will reach 495 million in 2020. Of this, 223 million are eSports enthusiasts and the rest are occasional viewers.

The forecast for 2023 is to arrive at 295 million eSports enthusiasts. Surprisingly, the occasional viewers are expected to increase enormously, reaching 351 million.

When it comes to revenue, the eSports market will reach $1.1 billion in 2020. In addition, it is bound to generate a whopping $1.6 billion by the year 2023.

💲 How Much Do eSports Gamers Earn?

According to the ranking and analysis carried out by Compare.bet of the best 500 gamers in the world, the United States is currently the country with the most professional players. It has a total of 90, earning an average salary of $97,000 per year. But they are not the ones who earn the most.

Brazil has 29 players who have the best salaries, generating an average annual profit of $121,000. After them, there are the 25 Danish professional players, with a figure of $117,000 euros per year. The rest of the positions that make up the top 10 are Canada, Germany, Russia, France, China, South Korea, and the UK.

📱 The Future of eSports

Much of the growth of the eSports industry is due to corporate sponsors and advertisers. It is definitely a lucrative market as it is likely to be worth a staggering $1.4 billion by the end of this year. 

In addition, competitive gaming is going to make its own space at the 2022 Asian Games. Not just that, the Olympic organizing committee has also considered including eSports for Paris 2024. So, the future is looking strong for the eSports community.

The year 2020 and Covid-19 crisis has changed the game forever. More people have started to play seriously as they have more time than ever to dedicate to it. In addition, more people are watching eSports.

The pandemic has changed the world, but it has also brought to the eSports industry a new audience that, under normal circumstances, it would never have been discovered before.

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