The Future Of The ESports Betting Market 2020-2028
For a long time, the betting and gambling market only dealt with traditional sports and offered lines only for those events. However, with a surge in eSports popularity, this betting market has been making huge strides in narrowing the gap separating it from traditional sports gambling. By the end of next year, eSports events are expected to have over 250 million regular and 307 million casual viewers. Sportsbooks will certainly want to be a part of this boom as much as possible and, in the next seven or eight years, we can expect to see more and more eSports events included in their offer.
A Look At The Future Of The ESports Betting Market 2020-2028
Before the e Sports betting market can exist on equal footing with traditional sports gambling, there are several issues that need to be dealt with. Those issues will be the center of attention of both the eSports community and betting operators worldwide. In 2020, eSports betting providers are expected to rack up an impressive $1.8 billion. However, although that number seems rather large, it’s still peanuts compared to the overall gambling profits which are in the area of $250 billion.
We can expect betting sites to include more e Sports events and markets
In the next several years, we can expect betting sites to include more eSports events and markets in their portfolio in order to invest in the young audience following the virtual sporting events at the moment. The age of an average expert viewer is one of the main issues hindering the development of these betting markets. Most of the fans are still young and don’t have that much of a disposable income they’re willing to invest in betting. However, in the next seven or eight years, betting providers reasonably expect that this potential customer base will gain more financial power while keeping an interest in eSports.
A number of research reports published lately, including the one from the Report Consultant, are trying to grasp the current state of the eSports betting market and predict its development over the next several years. By analyzing the current revenues, sales, profit margins, organization, type, and location of betting providers dealing in e Sports, these reports try to suggest the strategy that will make eSports betting a significant part of the overall market in the future.
Betting On Video Games Like NBA2K And FIFA
The steps include making the general betting customers more familiar with the types of games present in the eSports world and getting them to better understand this betting market’s characteristics. Sports games, such as FIFA or NBA 2K are much closer to the average bettor since they include similar markets, such as match winners, props, totals, or handicaps.
On the other hand, gambling operators must make an effort to help the general betting audience better understand how to bet and profit from action games. Games such as LOL feature a whole different set of wagers like total kills or maps collected. Major broadcasters, including ESPN, now provide more live e Sports events for their viewers and are expected to play an even bigger role in increasing eSports popularity in the future.
These reports also deal with the impact of Covid-19 on the current and future state of eSports betting.
While the pandemic has changed the overall economic landscape worldwide, we may say that the eSports market has benefited from it. The cancellation of most of the live spring events earlier this year has made a lot of bettors turn their attention to eSports betting. At the beginning of the pandemic, eSports betting revenues have seen over 1oo% growth compared to the same time last year. Now, it’s up to betting operators to build on this newly gained audience and expand it even further in the future.