The Continuous Rise Of Esports Betting Sites

The traditional betting industry is now threatened with the continuous rise of esports betting sites. Esports and all the corresponding tournaments for CS:GO, DotA 2, League of Legends, and Overwatch demonstrate an impressive growth over the past few years. With this, experts and market analysts are all agreeing that the future of esports betting is brighter than the sun.

Facts and Statistics

Rivaling the traditional market, the esports industry is now slowly thriving. According to American financial and business website Business Insider, the market of the international esports scene is now near its $1 billion peak, and that gigantic number is still expected to grow and reach $1 billion.

10 years ago, esports was still not considered as an actual word describing electronic sports or games. But now, people from different walks of life are getting more and more interested--normal people became fans, and these fans have turned bettors. With this, esports online betting sites tripled in number. The market is getting bigger because of the emergence of different tournaments for each mainstream esports title. As each new and major competition draws, an ever-growing viewership, large prize pools, and higher streaming revenues enter the picture.

Following this, esports turned into a full-fledged market contributing to the nation’s economy. All these games affect various participants and influencers, and contribute money to bookmakers and punters enjoying the world of esports betting sites.

The force and power of CS:GO and DotA 2, not to mention the growing popularity of Overwatch and League of Legends, are the ones responsible for increasing the figures. The prize pool for League of Legends World Championship 2017, for example, amounted to over $1 billion. And DotA 2’s The International broke the same international prize pool record on the same year by establishing an event with a $24 million prize pool.

With this, it’s not really surprising that esports online betting sites are tapping into these markets to acquire new bettors and retain old customers. There’s even a study confirming that total esports wagers around the world reach $7 billion in 2018. That number is expected to increase and go double in the next two years. The market, aside from betting on esports, includes other forms of betting such as trading, cryptocurrency betting, and skin gambling. Cryptocurrency betting, among others, is now becoming a more attractive option as compared to cash betting due to some legal concerns in some jurisdictions. Cryptocurrencies are virtual coins that can be used anywhere using only a Bitcoin Wallet.