Meta Title: The Rapid Growth of eSports Betting: Projected to Hit $30 Billion by 2025
Meta Description: eSports betting has exploded in popularity recently. Wagering on competitive gaming could top $20 billion in handle by 2020. What’s driving growth and where is the market headed?
The world of competitive video gaming has exploded in popularity in recent years. eSports, as professional gaming is known, has transitioned from a niche hobby to a booming industry, attracting millions of viewers and generating over a billion dollars in revenue annually.
With the meteoric rise of eSports has come a corresponding surge in eSports betting. Today, players can place bets on eSpots not only at betting platforms, but also at some online casinos with betting line. One of them is casino Locowin that opens amazing opportunities for betting to its users. Wagering on competitive gaming has gone from a small, underground activity to a massive market in its own right. eSports betting is projected to top $20 billion in handle by 2020 according to some estimates.
Why is This Happening?
The growing intersection of eSports and sports betting is driven by a few key factors. First and foremost is the swelling audience for top-tier gaming competitions. Events like the League of Legends World Championship, Dota 2’s The International, and the Evolution Championship Series for fighting games routinely draw viewership in the millions. Fans are hungry to engage with and heighten the experience of watching star players battle at the highest level.
Wagering on matches allows eSports spectators to become more invested in the outcome. Having skin in the game, so to speak, makes victories more thrilling and defeats more agonizing. This is the same appeal that has driven sports betting for decades, translated to the virtual arena.
What does the future hold for this burgeoning market? Here are some predictions for where eSports betting is headed next:
More Mainstream Acceptance
While still considered a niche category, betting on eSports will gain greater mainstream acceptance and visibility in the coming years. Nearly 30% of American millennials say they already bet on eSports occasionally, according to a recent study.
As young bettors get older, that number will rise. Broadcast outlets and sportsbooks will tailor offerings to meet this demand.
Increased Regulation
The eSports betting market remains largely unregulated at present, but this is likely to change soon. More jurisdictions will move to legalize and institute guidelines around competitive gaming wagers as the handle increases. This should help provide greater protections for bettors along with potential tax revenue. But over-regulation could hinder growth.
Live Betting Expansion
Placing wagers in real-time as matches unfold is already popular in eSports. Expect live betting options to expand exponentially with more prop bets like which team draws first blood or destroys the first tower. These micro-wagers heighten the moment-to-moment excitement.
More Mainstream Sportsbooks Jumping In
Top online sportsbooks like DraftKings, FanDuel and BetMGM have already added eSports betting to their offerings.
Soon we’ll see physical sportsbooks follow suit with eSports wagering available alongside traditional sports bets. Exposure on betting sheets will drive increased casual betting.
Greater Match-Fixing Scrutiny
With bigger money flowing into the ecosystem, there will be greater incentive for match-fixing and cheating. Governing bodies will respond with more rigorous oversight and serious penalties for wrongdoing. Ethical questions will arise around players wagering on themselves.
More Variety in Betting Markets
Future eSports betting markets will feature increased variety beyond just the results of matches. Over/under bets on number of maps, correct series score predictions, and proposition wagers on individual player performance will become more commonplace.
Conclusion
As eSports continues to grow, so too will eSports betting. Already passion for competitive gaming has fueled an explosion in wagering handle. The market is projected to reach nearly $30 billion by 2025 according to Goldman Sachs. Yet challenges remain around regulation, ethics and mainstream acceptance. The intersection of eSports and sports betting still has much maturing to do, but the potential is astronomical. Like professional gaming itself, betting on eSports appeals to a digital native generation and that interest will only intensify in the years ahead.
