- Esports betting is close to reaching 10% of the whole sports betting market.
- The pandemic pushed esports betting into the spotlight, giving it a significant boost.
- The esports betting industry is showing signs of exponential growth.
- CSGO is still the most popular esports title as far as online betting is concerned.
Even though many people predicted online sports betting would greatly suffer through these trying times, one portion of its spectrum lived to tell a prosperous tale. The esports betting growth isn’t here by coincidence. With the shutdown of conventional sports all across the globe, online betting enthusiasts turned to the likes of CSGO, Dota 2, and League of Legends to soothe their cravings… and it resulted in pretty significant growth.
From March to September 2020, Euros wagered through FansUnite’s B2B solutions have increased 650% from the same period last year. Yep, a 650% increase in a seven-month period. Those numbers perfectly depict the continuous esports betting growth that shows no signs of stopping.
“What we have seen this year is the beginning of a new era in the esports gambling industry… Fueled in part by a shutdown of traditional sports worldwide, extended time at home because of the pandemic, and growth in legal betting opportunities in the U.S., esports gambling has gained significant new interest. The unusual circumstances of the spring and early summer created an opportunity for esports to reach a new audience that it might not otherwise reach. That new audience is not temporary, and their participation will have long-term effects on the industry’s growth potential over the next few years.” – Scott Burton, Chief Executive Officer of FansUnite
CSGO betting is still by far the most popular esports title to bet on. People love to bet on CSGO because of the sheer popularity of the game that sports one or two lucrative events every month. CSGO Majors are by far the most popular events people bet on, effectively helping the esports betting industry to account for close to 10% of the total legal online sports betting market.
Valve’s globally popular first-person shooter is followed by Dota 2 (Valve’s globally popular multiplayer online battle arena), and Riot Games’ League of Legends.
There are a bunch of new esports on the block, esports that have good esports betting potential. We’re mainly talking about Valorant, a brand-new highly competitive first-person shooter by Riot Games that is already enjoying a ton of popularity.
Legal Esports Betting in the US
The wave of liberalization of sports betting across the US paved the way for more legal esports betting opportunities. Esports and sports betting are similar in many ways, and the liberalization of one was always going to bring forth additional boosts to the other. States are starting to explore their options related to legal esports betting in the US, driven by the massive success of offshore bookies showcasing big pluses related to betting on esports.
“With demographics shifting and sports betting rapidly expanding across the U.S., states won’t be able to ignore the potential of esports wagering. Offshore books are already successfully offering esports to U.S. customers, showing the enormous potential. And as states begin to embrace it, the esports market will gain exponentially.” – Scott Burton, Chief Executive Officer of FansUnite
With all that in mind, one thing is for sure – esports betting growth won’t stop anytime soon! Esports betting will keep on developing together with its big brother, the esports industry as a whole. Together, these two behemoths will take up a significant portion of the gaming business. There’s a lot of money involved across the board, so we can rest assured the ongoing pandemic or any other issues that might pop up in the long run, won’t have any long-term effects.
Esports and esports betting are here to stay… for good!