Esports May Be the Future of Sports Betting

Esports has been growing in popularity recently. What was once a very fringe activity has begun to ingrain itself in popular culture.

Sports betting is also growing faster than a wildfire on the open prairies across a large swath of the United States. Esports and sports betting are trending up in a significant way.

It’s only a matter of time until the two converge in a mammoth way. Esports may be the future of sports betting.

The Global Esports Market

The esports betting market has shown steady growth over the past decade. The number of interested parties grows by the day.

In fact, esports has shown a steady growth of over 12% every year. Meanwhile, sports like baseball seem to be taking a significant dip.

There are several contributors to the success esports is currently experiencing.

One of the most prominent influences on esports rise is its prominence in mainstream culture. The world of professional athletes has been especially crucial to the rise of esports.

Many of the most famous athletes on the planet have gotten into the business of esports. The list of sports figures with a hand in esports includes Kevin Durant, Michael Jordan, Steph Curry, Shaquille O’Neal, Mike Tyson, and Jerry Jones.

This list goes on from there and grows by the week. During the 2020 shut down due to the pandemic, many athletes got into the esports game as a way to bring the masses what they crave, or at least the next closest thing.

Innovation and Momentum

Esports are carrying more momentum than ever before. The casinos around the globe are being forced to take notice and give the discipline its proper respect.

Otherwise, they could get left behind. The last place the major casino companies ever want to be is playing catch up with the competition.

The smaller casinos could use esports to catapult themselves into a level of success only dreamed of before.

Take what DraftKings and FanDuel did with daily fantasy sports. By entering into a space early and cornering the market share, they have become synonymous with DFS.

Imagine how the suitable business model and marketing campaign could slide a company into the preeminent slot as the go-to esports sportsbook.

Believe it or not, the casinos are already working tirelessly to figure out the perfect approach to esports’ tricky area.

Sure, I played baseball at a high level. However, I haven’t picked up a baseball in nearly a decade.

I’m not saying that playing video games will make you a better gambler, but it will make you more in-tune with the world of esports.

There’s no question that esports leaves a glaring liability for the casinos. Still, it’s a calculated risk worth taking if the sportsbooks want to maximize potential profits in the future.

The future of esports looks to be enormous. The activity draws in a vast array of players from all walks of life.

I have several buddies who spend many nights a week playing online games against players worldwide. The competitive arena for esports is tremendous.

Next Steps for Esports

I hate to say it, but with the numbers in other sports (baseball in particular) dipping, esports has a vast opening to become a big four sport.

To be clear, I don’t wish any failure on esports. I just wish baseball would make a huge comeback in popularity.

Perhaps those are merely the grumblings of a Generation X “old man” trying to cling on to the glory days.

Well, out with the old and in with the new. I recently asked a friend’s son what his favorite sport to watch is, and his reply really didn’t come as much of a surprise. Video games were at the top of his list. His mother confirmed that he spends more time watching YouTube or Twitch streams of others playing his favorite games than playing the games himself.

My first instinct was to judge the parenting going on in their house. Luckily, years of speaking before, I think, have slowed the tongue a bit.

At this moment, it occurred to me. I always assumed I watched the NFL, NBA, or MLB because I played those sports and can relate to the feeling of hitting a buzzer-beater or rounding the bases after putting one in the cheap seats. However, I own a basketball and a football. Yet, they both sit partially deflated (I checked) on a tidy shelf in the garage. So, what draws me to watch sports as opposed to playing myself?

I’m not lazy; I’m rather active and go on hikes, play golf, and fish several days a week. So, it’s not a matter of ability or time.

I believe it comes down to two things, and each of these will be a significant factor in the success of esports.

• The first is the convenience factor. It’s simply more accessible and less taxing to be a spectator.
• Secondly, we love to watch the pinnacle of our favorite hobbies. Tiger Woods is on a different plane when he strikes a golf ball, and it’s fantastic to watch.

The best players worldwide will be a driving force in the success of esports as they showcase their talents.

Not a Clear Path

Esports remain in their infancy. Still, it’s abundantly clear that huge things are coming.

How we get from esports becoming more mainstream with very limited competitions available for wagering to the whole gambit of sports betting is a bit murky.

Let’s begin by focusing on the consumer, and work are way back.

Sports bettors are going to place wagers where they can. It’s been shown that where there is action to be had, the bettors will show. Live betting has become the most exciting form of betting for many punters. I’m interested to see in-game betting become prevalent in esports.

Absolutely, the enormous potential of money to be made in the esports market hasn’t come close to be fully realized.

That one fact is all the information the casinos need to make a decision. Esports offers a wealth of new customers and profits for the casino and sportsbooks they operate.

The final piece of the puzzle appears to be the gaming boards or other governing bodies.

Here is the most significant obstacle standing between esports fans’ hoards looking to place money on the contests and the sportsbooks.

As the gaming commissions begin to open the door to more esports events, esports’ popularity will grow. This growth will take place both in mainstream society and the gambling world.

The Online Sportsbooks

The online sportsbooks likely stand to gain the most from widely available esports betting.

Currently, a few small online sportsbooks operate, with their sole focus being on esports. These niche bookmakers are undoubtedly making a very decent profit.

Still, tens to hundreds of millions are being left on the table by only having a small game selection. The major sportsbooks often feature betting only on the most prominent esports events on the calendar.

As this continues to develop and more events are added to the significant sportsbooks, so will the market share and popularity of esports.

Land-Based Sportsbooks

The Las Vegas sportsbooks are keen on the idea of esports betting becoming widespread. However, it’s essential to the sportsbook operators that more oversight is given to esports.

However, the esports community is possibly more concerned with earning its spot as a legitimate entertainment platform than any sport on the planet.

Additionally, the competitors themselves stake their entire brand on their reputation. If there’s any question about a player’s character concerning gaming, they surely won’t make it far in the industry.

If the esports industry continues trending upward, the prominent sportsbooks in Vegas and around the world will be forced to get on board or be left out.

Conclusion

The worlds of esports and sports betting are crossing paths with growing regularity. It seems like only a matter of time before the two collide.

The results could be historic. Sportsbooks will be inundated with a new breed of gamblers, and long-time sports bettors may transition to the esports world.

It’s still extremely early, but esports may be the future of sports betting for years to come.

Source: https://www.gamblingsites.org/blog/esports-may-be-the-future-of-sports-betting/