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The Ever-Growing Market of eSports Betting

The Ever-Growing Market of eSports Betting: How Big Has It Become?

Playing videogames for a living is now no longer a dream – if you’re good enough, that is. From first-person shooters and all the way to racing games and real-time strategies, more people are tuning in every year to cheer for their favourite players. As such, eSports betting market has sprung up, and it’s growing bigger in size every year.

A quick look at the numbers

The industry experts estimate that 300 million people will be watching eSports streams by 2022. Comparing that number to 2012 when the number was 58 million, that’s a notable increase. And the best part? The eSports market is growing right along with it. In 2018, 7 billion US dollars were wagered on various eSports titles all around the world.

What’s the main region?

61% of all eSports enthusiasts come from the Asia Pacific region. Asian players are widely recognized for their level of discipline and commitment, and names like Jang “MC” Min Chul from South Korea keeps on dominating the Starcraft scene. His tournament winnings have reached $365,000. He and many other pro gamers are looked upon as idols in their home region, with many younger players striving to repeat their success. Consequently, many are aware of their gaming prowess and want to cash in on that knowledge by placing a bet on them.

And the age?

The average eSports enthusiast is under 35 years of age (25-34 is a more accurate representation, although a great number of teenagers are fond of eSports too). In general, many of those who participate in the eSport itself are eager to place a bet, since they know the scene pretty well and have a good sense of who the top performers are. Either way, 25-34 is the age demographic targeted by the advertisers since this is how old the majority of them are.

The 2 main types of eSports betting

For those who like to bet, there are 2 ways to do it; either by doing it the traditional way (cash betting) or betting your in-game items, a practice that’s also referred to as skin betting. Skins are the kind of in-game items that don’t have a direct impact on the game itself, but they do add a cosmetic touch, hence they’re considered valuable enough to be used for the purpose.

With that being said, the skin betting market has faced a lot of issues throughout the years, and the legality of it is also not straightened out yet. The good news? This paves the way for traditional cash betting we’ve all grown to adore and love.

The most popular titles

Around 38% of all eSports money wagered goes to League of Legends. Counter Strike: Global Offensive takes the second-largest chunk of the pie at 29%.

The eSports betting demographic is different than the traditional one

Although there is some overlap, in general, the eSports betting demographic cannot be compared to the one most of us are familiar with. After all, it caters to a different age range and people with different interests. Hence, an adjusted marketing strategy is needed.

For the most part, the traditional sports betting crowd seems to be older on average. But there’s a logical reason for that: the younger generations were exposed to the world of video gaming early on, whilst the older generations did not have that influence.

How to profit from the trend?

The general premise is simple. In order to make profitable betting decisions, some degree of knowledge is required. If you’re a fan of the most popular eSports titles and the competitive scene surrounding them, you’ll know who the big names are. If not, you can also google them and capitalize on your newfound knowledge that way.

Alternatively, if you just can’t be bothered with doing all that, there’s nothing wrong with firing up a traditional casino and place your bets on some jackpot games. That way, the size of the jackpot is the only thing you’ll need to pay attention to when determining what titles deserve your attention (apart from having some basic gambling smarts, of course).

Conclusion

Pro gaming and eSports have taken the world by storm. The younger generations want to be just like their pro gaming role models by pursuing an eSports career of their own. Care to become a part of it yourself by placing a bet on your favorite contenders?


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