Why has esports betting grown into a massive market?
The latest reports suggest the esports’ betting market has exploded in recent years. With the global market for betting on esports expected to reach a giant $24,190 million by 2028, according to the eSports Betting Market Insights Report 2023-2030, this is still a fast-growing industry. But what are the main reasons for this spectacular rise?
It’s Easy to Carry Out
Online betting platforms offering the latest odds mean it’s now far easier to carry out this type of gambling than has ever been the case. If you want to find the current esports betting numbers and odds for upcoming events, you can start by filtering by game. The likes of Call of Duty, Valorant, and Dota 2 are included. You can then look at the individual odds for the upcoming tournaments, using easy banking methods like cryptocurrencies to bet with real money.
Choose to wager before a game starts or look for in-play odds on games that have already begun. Another way that esports betting has got easier is through the addition of diverse types of wagers. As well as being able to bet on the outright winner, you can also look at options such as predicting the correct score or what you believe will be the number of maps won by a certain team.
Since esports betting has become widespread, it’s also now possible to find tips and strategies online. Anyone who has bet on sports like football or basketball should find it easy to adapt to sports betting. Yet even a complete newcomer who has never placed a single sport bet in their life isn’t going to have any problems working out how to get started. Those fans in North Carolina who are impatiently waiting to make their first legal bets might need to wait a little bit longer, though.
The Rising Popularity of Esports
Of course, betting on esports wouldn’t stand a chance of being a hit if the events themselves weren’t so popular. Esports has been one of the enormous success stories of recent years, as it’s grown at an incredible rate. This look at the worldwide esports industry suggests that an annual growth rate of over 21% should see its value rocket to $6.75 billion by 2030.
The rise of esports is linked to the boom in video games we’ve seen this century. As more people enjoy this as a hobby, the interest in watching the best players take part in competitive gaming grows. Games like League of Legends and Dota 2 are much-loved classics that show no sign of losing their appeal any time soon.
New releases such as CS2, Tekken 8, and Stormgate should keep interest levels high and attract new players to the genre throughout 2024 and beyond. CS2 was already released in 2023 – to replace CS: GO – and Tekken 8 is set for a January 26 release, with actor Brian Cox narrating the story so far in the game’s latest trailer.
Big Tournaments and Popular Teams
Another vital part of the appeal of esports betting is the fact that there are so many top teams who take part in exciting tournaments throughout the year. 2024 has events lined up such as the Intel Extreme Masters in Katowice for CS2 teams. We can also look forward to the Dota 2 DreamLeague Season 22 and the VCT Masters in Shanghai with Valorant being played there.
The esports calendar is looking busier and more action-packed with every passing year. Fans of competitive gaming can find something to catch their eye at virtually any time of year. The fact that this is a year-round sport means that casual fans can simply take a look at upcoming events whenever they want to find something to watch or bet on.
As with conventional sports betting, many fans will choose to place a wager on their favourite team, while others will closely analyze the market before deciding what moves to make. Either approach can work, so each bettor simply has to take a moment to decide how they want to make their choices.
Live Streaming of Games
No doubt live streaming has been crucial in the way that esports have become firmly established as a mainstream entertainment option. With so many big tournaments taking place throughout the year and many of them live-streamed, it’s easy to tune in and watch the latest action as it happens.
This also has direct benefits for esports bettors, who want to place in-game wagers. They can watch how a game is unfolding as they decide whether to bet on the next map, the next kill, or the overall result.
A Look Ahead
All of these factors have helped esports betting to grow considerably in the last few years. The way that this market has exploded in popularity should ensure that it continues to attract new bettors who are keen to take part by betting on their chosen teams.
