The Rise of e-Sports Betting
July 11, 2019 (Investorideas.com Newswire) Over the past 10 years or so, e-Sports has grown from friends hosting LAN parties for fun, to a full-fledged industry with a number of leagues and teams, attracting a lot of fans and bringing in serious money. To go along, e-Sports betting has also grown over the years. Today, we will talk about e-Sports betting and its rise in popularity.
Sports vs e-Sports Betting
You might be familiar with how are odds set in sports betting, and the process for setting e-Sports odds is very similar. Currently, the entire process is so similar that many established bookmakers including Bet365 and Betway have started to include e-Sports in their offer, and now cover a lot of events on many different games. The transition is also easy for punters who follow e-Sports on a regular basis and have extensive knowledge of the games, leagues, and teams.
However, in the future, this might change, as no one really knows how a regulated betting landscape for e-Sports should look since it has been around for such a short time, and it might end up being totally different than what we are used to with traditional sports betting.
It is also worth noting that the odds for e-Sports are not as accurate as traditional sports since bookmakers don't have decades of accumulated data to turn to when it comes to setting odds and noticing suspicious behavior among punters. Even though some companies have developed their own databases for predicting odds, this is still a work in progress.
Rise in Popularity
Not only is betting on gaming rising, but it is, in fact the fastest-growing betting trend in sports gambling and it is expected that people around the world will spend around $12.9 billion on gaming by 2020.
As e-Sports continues to grow and become more popular as a spectator sport, it will also grow as a betting category. Since it is recognized as a sport throughout the world, e-Sports attracts a lot of awareness and an abundance of competitive talent. This will further increase the number of sponsorships and advertising during events, which means larger prize money.
The number of tournaments is increasing each year, and the prize pools keep getting bigger and bigger, as the popularity rises and more and more people start watching the events. There are also commentators for most events, engaging with the audience and including them in the conversation, which may further drive e-Sports betting.
Obstacles for Growth
Legislation has probably been the biggest factor slowing down the growth of e-Sports betting. However, since the Supreme Court made a new ruling that allows each state to choose its betting and gambling laws, Nevada, Delaware, New Jersey, and Mississippi have already legalized it, with many other states expected to follow in their footsteps.
Another factor that threatens growth is fairly limited access to player performance data. E-Sports bookmakers need better access to accurate tournament and player data, as well as a standardized way of data collection across different games.
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