The world of eSports has gradually risen in recent years than it was projected by most people. Five years ago eSports was a new thing in the gaming market, fast-forward today, and it’s looking like a real betting platform to many fanatics. William Hill was perhaps the first among major bookies to offer intriguing odd and half-decent odd on eSports events. The idea actually stemmed from two young guys who worked in the Darwin office in Australia. The two guys contacted William Hills over a potential deal on bringing eSports into the gaming world. That was less than two year ago—and today, the millions of enthusiasts are betting on video games.
According to SuperData study conducted at the end of 2015, there was over 134 million eSports audience across the world, and the market in Asia (the biggest) was worth $374 million, North America $143 million, and Europe $72 million. A lot of people kept watching and betting, and sponsors started pumping cash into this industry. Today, the market worth has risen exponentially across the globe, and it is projected to grow even further in the next three years. According to credible research from Newzoo, eSports betting is expected to thrive in the coming years as the audience is expected to rise to a staggering 600 million by 2020. The number is expected to hit 356 million mid-2017 and is projected to skyrocket by 50% in the coming years.
Newzoo breaks down the data and predicts that there will be 194 million Occasional Viewers and 191 million eSports Enthusiasts in 2017. Peter Warman, CEO at Newzoo says “eSports is not only growing effusively as a new independent business and industry, but it is also quickening the merging of a number of proven industries.” Warman believes that the rate at which eSports industry is growing brings a chance for other entities such as entertainment companies, media, and brands to capitalize on the preferred pastime of the young people. eSports is seen as a perfect way to attract the young (Millennials) into the betting industry, and with the arrival of live streams, the media can now benefit through advertisement of business models.
If eSports betting industry is to realize this projected growth in viewership and participation, then its revenue will rise from $330, where it was at the end of 2016, to $1.5 billion in 2020—this is an astounding rise of 36%. Today the average revenue per individual is around $4, but as gaming events keep growing in terms of media right deals, leagues, and local events, the average revenue per individual will shoot to $5.5 by 2020. Some say that eSports betting will be even bigger than the eSports industry as these are two different. In simple terms, people involved in eSports betting are growing in number that the games are produced. Overall, the report presents a solid case that eSports betting is one of the booming areas of economic growth in the market today.