E-sports betting has become extremely popular lately. The sharp surge in the popularity of this gambling area has given a powerful impetus to the development of many companies involved in e-sports betting. Casino Market experts decided to explore the current situation in more detail and determine the prospects of this industry.
The Growing Public Interest in E-Sports
The coronavirus pandemic has affected the development of the gambling industry dramatically. The owners of land-based establishments suffered huge financial losses due to quarantine. Entering the online market has become a good fallback option for many entrepreneurs.
The online casino industry has received a large influx of new audiences. As for betting, things are much more complicated here. The fact is that all considerable sporting events have been cancelled.
Because of this, the number of betting lines has decreased significantly. E-sports has become an excellent alternative to real sports competitions. People who have not been previously interested in e-sports have turned their attention to this area of the bookmaker business now.
It is noteworthy that e-sports betting was quite popular among gamblers from around the world even before the quarantine. Millions of spectators watched important tournaments online and in real locations.
Here are the most popular video games:
- Dota 2;
- Counter-Strike;
- League of Legends.
Prospects for the Development of E-Sports Betting Industry
Undoubtedly, the current conditions allowed e-sports to attract a vast audience. However, experts predict that a significant part of this audience will lose interest in this type of gambling after the completion of the quarantine. At the same time, this industry will be able to increase the number of dedicated fans.
The main tasks of the operators, working in the e-sports betting industry, are as follows:
- The introduction of advanced technologies. This applies to both the games themselves and the betting websites. As a rule, users of such resources are well-versed in the field of digital technologies. Therefore, operators should offer them only the most advanced solutions.
- Market expansion. E-sports industry is quite limited today. Representatives of this area need to unite with the owners of bookmaker projects focused on real sporting events. Such cooperation will let them attract a wider audience.
- Increase in the number of options available in a live format. About 80 per cent of bets on tournaments in the most popular games (Dota 2, League of Legends, Counter-Strike) are made in live mode. Operators should increase the number of lines available for betting in this format.
Difficulties Caused by the Pandemic
Many people mistakenly believe that the outbreak of COVID-19 brought only benefits for e-sports betting. In fact, this gambling sphere also faced a number of difficulties.
Although this field is closely connected to the Internet, most essential tournaments took place in real locations before the quarantine. Some competitions were cancelled. The other ones were transferred to the online space. Millions of video game fans were outraged by this decision.
In addition to a huge Internet audience, major championships in such games as League of Legends, Dota 2, or Counter-Strike gathered several hundred thousand fans in real arenas.
The companies involved in the organization of the competition lost lots of financial resources that were spent on renting premises, buying equipment and software, etc.
However, not only coronavirus affected e-sports and e-sports betting negatively. A number of obstacles prevent this industry from evolving. Let us consider some of them.
| Closed nature of the market | Prior to quarantine, primarily gamers playing well-known video games were betting on the results of the tournaments. The closed nature of the market makes e-sports betting accessible only to a certain circle of players. It is necessary to integrate this type of bookmaking business in other sectors of the gambling industry |
| The absence of government support | Some countries are supporting the development of e-sports actively, for example, the United Kingdom and Malta. However, the governments of most states do not consider this activity as something serious. They do not allocate funds to popularize this sport and do not create loyal conditions for its promotion |
| Lack of opportunities for players | In comparison to betting on traditional sports, e-sports betting lines include a smaller number of events (under normal conditions). Besides, ordinary betting websites provide more opportunities for live betting, video broadcasts of matches and many other things |
Conclusion
The closure of ground-based gambling establishments brought both a lot of advantages and many challenges for e-sports betting:
- the growth of popularity;
- new opportunities for business expansion;
- financial losses;
- cancellation of important tournaments.
Despite the predicted decline in interest in e-sports after quarantine, experts forecast a great future for this field of the gambling industry.
Casino Market has extensive experience of working in the gaming and betting markets. Our team is engaged in the development of gambling projects in various formats. E-sports betting is especially popular among our clients today.
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