You may have heard the term “esports” thrown around lately, but you’re not quite sure what it means. Esports is short for electronic sports, and it is a form of competition that takes place between two or more players using video games. Yep, you read that right – video games.
While some people may still be skeptical about esports, there are many reasons why this industry is growing rapidly and will continue to do so in the years to come. Esports betting is part of the culture, and we will tell you three of the main reasons why it is so.
The Fans Want to Partake
The teams had everything put on the line when they stepped on that stage to play competitively against some of the best in the world. Fans, of course, want to add to the excitement by betting, and just the sheer number alone has already made esports gambling a cultural phenomenon. For example, a recent study conducted by Newzoo showed that there are now approximately 380 million esports fans worldwide.
These viewers not only watch their favorite teams and players duke it out online or on television, but they also want to put their money where their mouth is to show their support even more. This is where esports betting comes in, and it has already become a multi-billion dollar industry.
The Games Offer More Than Just Entertainment
Esports is not just about playing video games for fun – although that is still a considerable part of it. These gamers are extremely talented and dedicate countless hours to perfecting their craft. They train as traditional athletes do, but instead of playing on a field or court, they are in front of a computer screen.
The games themselves have also become more complex and involved over the years. They now offer storylines and characters that fans can follow and root for with their favorite sports team just like they would. These games are also spectator-friendly, which makes them perfect for esports betting.
There is also a growing number of women in esports, which is helping to break down the stereotype that video gaming is just for men. In fact, a recent study showed that 38% of esports fans are women.
The Money Is There
The global esports economy is expected to reach $696 million this year, and it is estimated to grow to $12.48 billion by the year 2023. This rapid growth is thanks to a combination of factors, including investments from traditional sports teams, media companies, and celebrities.
Even some of the biggest names in traditional sports are getting involved in esports. For example, Alex Rodriguez – a former MLB player – and NBA star Shaquille O’Neal have both invested in NRG Esports, while retired NFL player Rick Fox owns Echo Fox. It is clear as day that the money is there, which will only continue as the industry grows.
