The esports industry has tasted considerable success during the 21st century, providing gamers with a genuine way to make huge amounts of money from their hobby. Esports is essentially online multiplayer gaming watched by spectators, either live or on streaming platforms such as Twitch. As gaming technology has improved over the past decade, esports has enjoyed considerable popularity.
It’s part of a wider trend across the online gaming industry, with other niches, such as the sweepstakes market, also experiencing massive success. These sites offer players an easy way to play casino games for free, with the added potential for real cash prize redemptions. People in all US states other than Washington can play sweepstakes online for money due to the virtual currency system that evades no-nonsense federal gambling laws.
Nevertheless, esports are undeniably the most significant online gaming phenomenon so far this century. Keep reading for a quick overview of what it is, the history behind it, and what the biggest esport is in 2022.
What are esports?
Esports is basically competitive video gaming, where teams of gamers compete against each other by playing various titles such as DOTA, League of Legends, Overwatch, and Counter-Strike. Spectators can attend in-person events at worldwide arenas or watch esports competitions on TV channels, Twitch, or Facebook.
There are numerous esports competitions nowadays, such as the Overwatch League Eastern Division. It’s big business too, with tournament winners often winning several million dollars and revenue running into the billions. Remember your parents telling you it was impossible to earn a living playing games? Well, not anymore!
A quick history of esports
The origins of esports date back to 1971 when students at the University of Stanford competed to see who could get the highest score in the old-school Spacewar! game. This wasn’t an official event, but it arguably provided the catalyst for video game competitions going forward. The 1980 Space Invaders Championship was the first official video game tournament, attracting 10,000 participants from all around the world.
The legendary Japanese company Nintendo capitalized on the growing buzz surrounding competitive gaming, holding the first Nintendo World Championships in 1990. It gained sponsorship from global brands such as Pepsi and Reebok, putting esports firmly on the map. Increasingly forward-thinking technology and larger competitions in the 2000s resulted in a significant esports expansion, with the streaming platform Twitch responsible for catapulting it into the modern era.
What is the biggest esport in 2022?
There are dozens of video games favored by esports professionals, but nothing comes close to the frontrunners, such as Counter-Strike: Global Offensive, League of Legends, and DOTA 2. These games typically have the largest viewing figures and prize pools, with DOTA 2 claiming a peak viewership total of 1,751,086 spectators. It also has the largest prize on offer, with $31,613,681 at the time of writing.
Despite these impressive figures, most esports experts would argue that CS:GO (Counter-Strike: Global Offensive) is the most significant. It has been around in some shape or form since the early 2000s and has dozens of major annual events with prize pots easily exceeding $1m. Elsewhere, League of Legends is arguably the biggest esport in Asia currently, with Korea having eight of the ten highest earners.
A few other immensely popular esports
Although Counter-Strike: Global Offensive, DOTA 2, and League of Legends are the biggest 2022 esports, they certainly aren’t the only significant contributors to the industry. Other incredibly popular esports options include:
- Fortnite
- PUBG: Battlegrounds
- Rocket League
- Tom Clancy’s Rainbow Six Siege
- Apex Legends
- Overwatch
- FIFA
How much can professional esports players earn?
Esports professionals can make a very healthy living nowadays, even without winning any of the industry’s major prizes. Salaries can range from $50,000 to $5,000,000 per annum, and that’s without any earnings from streaming or sponsorships. Additionally, tournament prize money can easily be at least $50,000 for each player, so the money-making potential is huge.
Becoming a professional esports player is a monumentally tough task. You need to have exceptional skills and be dedicated to playing for several hours daily to succeed.
What does the future hold for the esports industry?
The future looks very bright for the overall esports industry, with global market revenue expected to reach $1,866.2m in 2025. This is almost double the $996m recorded in 2020, demonstrating how fast the market is growing.