The development of Esports betting
The past five years have been quite big for the young, and the development of Esports betting industry. Franchises like Unikrn, AlphaDraft, and Vulcun have launched only at the beginning of the year of 2015 and since in the period of 1 year have become big names in this new, growing industry.
Furthermore, in the recent weeks, two principal players from a similar market – the sports betting industry – have declared that they will bring Esports betting (more precisely daily fantasy Esports betting) to their portfolio of merchandise and products. Seeing all this expansion happening lately – and is strengthening its roots quite fast – brings into perspective the question of how betting will have its impact on Esports.
The Good and the Bad
It can be said without any doubt that once the money comes into play in something, the experience becomes something else.
Spectating your favorite team compete against an opponent is pleasing on the eyes, but once the result of the game you love determines whether you’ll lose or win money, the connection to the game easily becomes more intense, the experience can be either positive or negative. Since the perspective towards betting varies greatly from person to person, it’s hard to determine how many take it a little too seriously and how many have a healthy and “normal” perspective.
However, one can profit immensely with having betting added to the game, but it can also build up to a negative experience, especially if too much intensity is put into it.
There are a large number of factors to consider when introducing betting to a new area of occupation and the disciplines such as legality, safeguards, keeping the competitors unbiased, and making sure that it’s not mistreated by anyone.
Positives and Negatives of Esports Betting
As discussed earlier, there are a few things that could eventually go wrong when betting is initiated into the Esports industry. For some people, things in life, like personal gains usually and unfortunately takes priority over their integrity, pointed out that the potential for wrongdoings will always be ever present – and it has happened more than often in the past already. But does this suggest that betting will only be subject to the adverse effects for the larger community?
Present-day analysis has shown that there is a relationship between sports betting and audience numbers – and it’s reviewed as a good thing. More viewership and audience will most likely result in the market being taken more seriously and could potentially lead to the requisite of transparency. With sufficient transparency, the possibility of wrongdoings becomes smaller, particularly when the companies that offer products and merchandise are appropriately monitored and regulated.
With that being said, if the barriers and potential threats are being adequately addressed, betting can have a quite positive effect for the Esports community and ultimately on the industry. With the recent stable growth of the market, it can be expected that there are lots of new breakthroughs and potential coming regarding where players can bet on Esports, tournament offerings, and a lot more.
The Esports industry is immensely growing in popularity—and as a result so is Esports betting.
In 2015, GamingZion published an article inspecting Esports and the subject of betting on professional competitive video gaming. The report concluded with speculation that there would be quite an increase in Esports’ popularity and distinction on online betting sites in the US shortly.
A short overview of Esports and its history
Esports dates back to the 1990s with leagues, competitions, and tournaments for first person shooter games, sports, and arcade style games. While its fame flip-flopped for a decade or so, it took off with new breakthroughs and developments in the video game industry and the introduction of PC multiplayer online games. As a consequence, more and more individuals started to play video games at home, mostly leading to a significant increase in the popularity of the industry and Esports betting among the community.
One of the famous contributors to the rapidly growing movement is The Electronic Sports League (ESL). Founded in Germany in 1997, it aids over 50 games in different genres and organizes tournaments for popular ones the titles of “League of Legends” and “Counterstrike”. To date, it has over 5,000,000 officially registered members and 1,000,000 teams who have competed in over 22.5 million games. Out of all these competitors, there is an estimate of 10 thousand professional Esports players, with the biggest earner in 2015 taking home a total $1.5 million in winnings.
There has been a substantial increase in the size of the industry’s audience. Millions of spectators watch Esports on the video platform called Twitch every day—the average multi-day tournament takes in approximately 7 to 9 million viewers—and even the likes of ESPN and other major sports channels have kick-started to air live major video game competitions. It’s not just on online platforms or TV. Nonetheless, people are getting their fair share of professional competitive gaming. The US betting news reported that over 40,000 people have attended the 2015 League of Legends World Championship Series which took place in Seoul, South Korea. Furthermore, over 17,000 audiences have participated in the Dota 2 Championship held in 2015 in Seattle USA.
The facts and numbers of Esports industry and Esports betting
Since professional competitive video gaming has dawned as a sport, Esports betting has started to find its potential. For some years fans from all across the globe have put bets on their idol eAthletes, although, it’s just recently that online bookmakers such as Bet365 and William Hill have caught the breeze and started to include the sport in their list of offers.
And are wise in doing so: Gaming industry research firm Eilers Research estimated that in the year 2015, Esports fanatics would wager more than $250 million on Esports tournaments, and the speculation was on point. Esports betting numbers are firmly believed to continue to rise, with the same firm having projected that by 2020, more than $23 billion USD would have been wagered around the world on Esports annually.
Statistics from online sportsbook Pinnacle are the evidence to this Esports betting prediction. Its numbers have doubled each year, along with taking well over 350,000 Esports bets last year alone. The high amount of Esports betting on this and other betting sites rank Esports industry as the eight most popular sport to place bets on in the whole world, as stated by the Giants NBC. Esports betting has become so popular that online bookmakers have even initiated to dedicate traders and whole departments exclusively to Esports betting.