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eSports, or competitive video gaming, has exploded in popularity over the last few years. What was once a niche hobby has become a mainstream phenomenon, with millions of fans tuning in to watch their favorite games and players compete at the highest level. With this rise in popularity has come a new era of gambling: eSports betting. In this post, we’ll explore the rise of eSports betting and what it means for the world of gambling.
What is eSports Betting?
eSports betting is the act of placing bets on competitive video game matches and tournaments. Much like traditional sports betting, fans can bet on the outcome of matches, the performance of individual players, and a variety of other outcomes. Some of the most popular games for eSports betting include League of Legends, Dota 2, CS:GO, and Overwatch.
The Rise of eSports Betting
While eSports betting has been around for several years, it has seen a massive surge in popularity over the last few years. In 2016, the total value of bets placed on eSports was estimated at around $5.5 billion. By 2020, that number had risen to over $23 billion, according to a report by Eilers & Krejcik Gaming.
One of the biggest factors driving the rise of eSports betting is the growth of the eSports industry itself. As more and more fans tune in to watch competitive gaming, the demand for betting opportunities has increased as well. In addition, the COVID-19 pandemic has accelerated the growth of eSports, as traditional sports were put on hold and fans turned to online gaming for entertainment.
Another factor driving the rise of eSports betting is the ease of access. Unlike traditional sports betting, which is often restricted by geography and legal regulations, eSports betting is accessible to anyone with an internet connection. This has opened up the world of betting to a whole new audience, particularly younger generations who are more likely to be interested in gaming and technology.
The Impact of eSports Betting on the Gambling Industry
The rise of eSports betting has had a significant impact on the gambling industry as a whole. For traditional sportsbooks, it has offered a new revenue stream and a way to attract younger audiences who may not be interested in traditional sports. In addition, many traditional sportsbooks have started offering eSports betting alongside traditional sports, allowing them to appeal to a wider audience.
For online gambling sites, eSports betting has offered a way to diversify their offerings and attract new customers. Many online casinos and sportsbooks now offer a wide range of eSports betting options, from popular games like League of Legends to niche titles like Rocket League and FIFA.
However, the rise of eSports betting has also raised concerns about problem gambling and the potential for match-fixing and other forms of corruption. As with any form of gambling, it’s important to gamble responsibly and never risk more than you can afford to lose. It’s also important for regulatory bodies to monitor the industry closely and ensure that proper safeguards are in place to prevent corruption.
Most popular esport betting games
The most popular esport betting game varies depending on the region and the betting platform. However, some of the most popular games for esport betting include League of Legends, Dota 2, CS:GO, Overwatch, and Fortnite.
According to a report by Eilers & Krejcik Gaming, the total value of bets placed on esports in 2020 was over $23 billion. This number is expected to continue to grow in the coming years, as the popularity of esports and esports betting continues to rise. However, it’s worth noting that this number includes both legal and illegal betting, and the actual amount of money bet legally on esports is likely to be much lower.
It’s also important to note that the amount of money bet on esports varies greatly depending on the region. While esports betting is legal and regulated in some countries, it’s still largely unregulated in others. As the industry continues to grow and mature, it’s likely that more countries will begin to regulate and legalize esports betting, leading to increased transparency and a more accurate picture of the total amount of money bet on esports each year.
The rise of eSports betting has brought a new era of gambling to the world of competitive gaming. With millions of fans tuning in to watch their favorite players and teams compete, it’s no surprise that betting on eSports has become so popular. While there are concerns about problem gambling and corruption, the industry is still in its early stages and has the potential to grow even larger in the years to come. Whether you’re a fan of eSports or traditional sports, it’s important to gamble responsibly and have fun.