The Economic Impact of E-Sports Betting in the Gaming Industry

Similar to real-world sports such as football and basketball, eSports have started to gain popularity in the global gaming industry. Due to its popularity, it has attracted gamers who do friendly wagers, thereby creating an eSports gambling subculture. 

This gambling subculture emerged from eSports enthusiasts becoming more interested in watching the most skilled eSports professionals compete head-to-head, similar to watching a televised sports match. This surge in consumer interest has created an opportunity among companies to capitalize on the demand by mixing friendly gambling with eSports watching. 

In this article, we will explore the economic impact of e-sports betting and its influence in the gaming industry. 

 The Rise of E-Sports Betting

Video games are not seen as just recreational hobbies anymore. It has evolved into a more technical and strategic endeavour. With this rising popularity, gambling companies have naturally explored the possibilities of offering bets and odds on the outcome of these games. 

It has reached such a height of popularity that the e-Sports betting market worldwide is projected to reach $18.12 billion by 2028. This growth is driven by the increasing legitimacy and mainstream acceptance of e-sports coupled with technological advancements that allow for seamless online betting experiences. 

With major e-Sports tournaments attracting thousands of spectators, some of them may bet directly on the outcome while others create a ‘fantasy’ team based on their favorite e-Sports teams. For those that prefer to do daily fantasy e-sports betting, each step is an adventure but creating the lineup is the highlight. If they aim to create the best lineup, PrizePicks offers a great range of sports markets for users, and this includes E-sports. 

Strategizing which player to include and using a prizepicks promo code or two is an exciting experience every DFS enthusiast must not miss out on. The adrenaline rush of creating the perfect lineup and having it compete with those of your opponents is a layer of engagement that elevates the entire experience.

Economic Impact of E-Sports Betting

E-sports betting has paved the way for innovation in the gaming business, leading to positive economic growth. In the US alone, its legalization and making it available in traditional sportsbooks both contributed to economic growth. 

These proactive methods allowed E-sports to become widely known, further increasing betting activity and general e-Sports viewership. As a result, the US garnered an annual growth rate of 9.63% which will result in a projected market volume of $1.1 billion by 2029.

Aside from the country’s overall economic advantages, here are some of the localized economic benefits of E-sports betting: 

Revenue Boost for Game Developers

One of the most significant economic impacts of e-Sports betting is the revenue-generating revenue stream it provides for game developers and e-sports organizations. 

When betting becomes part of the e-Sports viewing experience, it creates additional engagement with the game. As such, it leads to increased sales of game content and in-game purchases. This influx of capital towards game developers and e-sports organizations helps and supports them to fund new tournaments, improve software infrastructure, and Improve training for professional e-Sports players. 

Increasing Job Opportunities

Aside from increased revenue generation, e-sports betting also helps create new employment opportunities. 

To ensure that sports betting activities remain fair and transparent, it is necessary for game developers and organizations to hire skilled professionals to make it possible. From software developers and data analysts to marketing professionals, the industry requires these professionals and their diverse range of skills to elevate the overall viewing experience for fans. 

Market Expansion

Finally, e-sports betting also helps in attracting and retaining audiences in the gaming industry. Sports fans who might not have an interest in watching e-sports matches may be drawn to the prospect of betting on it instead. 

The more audiences it attracts, this leads to increased viewership and consequently boosts advertising and sponsorship opportunities for game developers and e-sports organizations.

E-sports betting is undeniably reshaping the economic landscape of the gaming industry, offering substantial revenue potential, increased job opportunities, and further expansion of the market. 

However, it is important to note that as the industry continues to evolve, stakeholders and related organizations must address possible challenges and foster a sustainable growth for the e-sports betting market. In doing so, e-Sports betting will surely continue to thrive and propel the gaming industry into new realms of economic prosperity.