Will eSports Be the Next Big Thing for Sports Betting? A Detailed Guide
If you’re wondering whether eSports has the potential to be the next big thing for sports betting, the answer is yes. But whether it will actually become popular is another question. There is also a potential for following the esports and looking for promotion codes and coupons for online betting. There is hesitation by online sports bookers to regulate the game. Keep reading to find out more.
Does eSports Betting Have What It Takes?
There is interest in eSports betting on the global scale. More and more digital events have been getting global coverage in the past few years.
According to research conducted by the Financial Research Media, eSports betting popularity will grow with a 13.1$ CAGR and exceed $13 billion by 2025.
Twitch is one of the leading video game streaming platforms in the world, and it has helped e-sports betting grow and reach a wider audience.
Twitch allows viewers to vote on the outcome of games and events. At the end of the day, this is a euphemism for gambling.
Sett Schnorr, who is the CEO and co-founder of Fifth Street Gaming, surveyed Twitch’s predictions feature during TwitchCon San Diego. He found that it was mostly utilized by mid-20- to 30-year-olds, which is the legal gambling age.
What Factors Are Holding eSports Betting Back?
Although there is potential for esports betting, the truth is that not that many sportsbook operators specialize in it.
Britnnie Watkins, who is a member of the Abarbanel and Nevada Gaming Control Board, cited regulators as the main reason why.
She went into detail, stating that eSports are unique and require a different set of knowledge and understanding that most regulators are apprehensive of.
According to Seth Schorr (the CEO and co-founder of Fifth Street Gaming), there is an enormous potential with eSport betting. However, most sportsbook operators do not want to deal with the hassle of handling a new sport.
Moreover, a lack of interest in Nevada is definitely a point to consider when talking about growth.
According to Watkins, there have been no e-sports application sent to the Nevada Gaming Control Board this year.
We can conclude that e-sports betting is a major industry that has the potential to grow – the Twitch streaming platform has helped influence this. However, whether it will actually be the next big thing is up for debate, as not many online sportsbooks want to focus on regulating a new game. Only time will tell.