Gambling over the last year due to the ongoing covid-19 pandemic has taken a big hit. With traditional brick and mortar casinos being forced to close or allowed to open but with strict social distancing taking place, they have had a very bad year. But the gaming industry has had some positive news, online casino registration is at an all time high, with people opting to gamble from the comfort of their homes. And, esports has become more and more popular, with the rise of people playing esports increasing during this last year, so has the betting on matches and tournaments.
Esport betting had been growing at a steady pace for years but in the last year, a 12% growth was reported by the industry. This has been fuelled by the Covid-19 pandemic but also the popularity of the sports stars that endorse and invest in esports, international stars include:
- Shaquille O’Neal, Basketball
- Michael Jordan, Basketball
- Mike Tyson, Boxing
- Kevin Durant, Basketball
- Steph Curry, Basketball
- Jerry Jones, Owner of the Dallas Cowboys
- Tony Hawk, Skateboarding
- Ronaldinho, Soccer, Football
- Tiger Woods, Golf
With such high profile names involved in esports, it is no surprise that people are flocking to play online esports games. Whilst many people are not interested in playing physical sports, they are still interested in esports, and especially gambling, and sites such as online casino bonus.
Can Esports Continue to Grow at This Pace?
With many sports seemingly in decline such as baseball, which has seen its popularity wane in recent years, esports are poised to take advantage and become a mainstream opportunity for gamblers. Online sports streaming websites such as Twitch which is primarily dedicated to esports viewing, have propelled esports and video gaming to the masses and helped raise the profile of the esports they stream. The most viewed streaming service in the world, YouTube, has also been instrumental in helping with the popularity of esports.
If you ask many of the youth today, which is their favorite sport to watch, the reply is often esports or gaming such as DOTA2 or Fortnite. Many adults also have a similar view, and for adults watching esports, there is an opportunity for gambling on these games, matches, or competitions. Online casinos have not let this pass their attention, and are adapting and taking note. It is a huge gambling market, one that is still dwarfed by traditional sports betting, but the gap is closing, and esports and esports gambling is showing no signs of slowing down, especially with the rise of online casino gambling.
Esports Gambling is Learning From Regular Sports Betting
Whilst esports and gambling are still at an early stage, it is clear that there is a bright future for online casinos and the gambling industry as a whole. Live sports betting has become huge in regular sports betting, and it is clear that it is a market that esports and online gaming will move heavily into. If esports can continue to attract regular gamblers, who are always looking for the next big thing to place a wager on, the industry will continue to grow. As of yet, the esports market has yet to reach its full potential, and looking at the traditional sports betting markets is a place to take inspiration from if the industry wishes to challenge them.
Online casinos and bookmakers have been constrained by local regulations concerning esports and online gaming events. It is new territory for them also, but the gaming commissions are now beginning to understand the potential of the esports industry, and are keen to move forward with helping the gambling industry and esports realize their full potential.
Who Is Benefiting From The Popularity of Esports Gambling?
Esports and online gaming betting at the moment is a niche market, online sportsbook makers are currently gaining from the surge in popularity of esports. There is currently a small number of online bookmakers who are taking advantage and are undoubtedly making some reasonable profits. It is only a matter of time until this changes, with larger bookmakers already exploring the market. There is so much money to be made from the numerous esports and online gaming matches and competitions, that is yet to be made due to the small number of esports that bookmakers and online casinos currently take bets on.
As more and more esports and online gaming competitions become popular and accessible to the online casinos, the gambling market is set to explode. With a potential of billions of dollars at stake, it is not a matter of if? but when? the big industry players get 100% involved and start to dominate the market.
Are Traditional Bookmakers Getting Involved In Esports Gambling?
Land Based sports bookmakers have warmed to the idea of esports and online gaming seeing the potential. Apart from gaming commissions being slow to pass regulation allowing them to take wagers their main concern is the oversight in this field. Without an esports governing body to regulate and protect their interests, they have been reluctant to get too heavily involved. But that is changing, esports and online gaming are trying to get themselves recognized as legitimate sports. This was given a huge boost that can not be underestimated with the International Olympic Committee giving the green light for esports in the future to be part of the conventional Olympics, although the initial decision has been met by many skeptics and the final approval has yet to be confirmed.
Either way, whether esports are included in the Tokyo Olympics, the fact that it is under discussion and consideration is proof that esports is another area for bookmakers to get heavily involved in. The other major concern is the rigging of games, it is hard to know if a player is underperforming when they could be anywhere on the planet online. This is something the industry is considering, especially traditional bookmakers, but with so much at stake, there will be a solution found to make the esports industry more clear for bookmakers, the same as all other sports.
Conclusion
The esports and online gaming industries are going from strength to strength, and the gambling industry is in a race to keep up and try to profit from it. This is good for gamblers and for the gaming industry, regulations will be adopted and commissions will grant more licenses, after all, there is too much money at stake.