Why Now Is The Time To Get Into Esports Betting?

With the return of traditional sports leagues after their suspension in 2020, this year promises to be great for betting operators like Betway. The suspension of traditional sports earlier last year saw many people seeking alternative sources of entertainment, with millions of punters turning to esports betting. As a result, research shows the esports market grew by over $1 billion in revenue throughout the year, a cap previously predicted for 2022.

The lockdown helped to further promote the esports space, although some operators are still wondering whether the new generation gaming market is worth pursuing. Fortunately, esports has experienced a wave of legalization and recognition worldwide, with a comeback of LAN play contributing significantly to their rebound. That makes 2021 the perfect year to get into the esports betting space and for good reasons.

A Wide Range Of Games And Betting Opportunities

The main reason why most punters choose to wager on sports instead of playing other casino games is the availability of many different leagues and games to choose from. You can wager on everything, including basketball, soccer, rugby, American football, and even obscure games like darts, badminton, and netball.

Esports is also very similar, with leading bookmakers offering a wide variety of games, international events, and leagues. Some of the main esports offering you can bet on using the Betway app include Call of Duty, Dota 2, League of Legends, and Counter-Strike: Global Offensive.

New Advertising Opportunities

Advertising contributed significantly to the growth of esports last year as traditional sports were on suspension. Many leading brands noticed esports’ huge potential and the great promotional opportunities it presents, choosing to leverage the industry. That’s why companies like HP and Intel cemented multi-year sponsorship deals with franchises such as the Overwatch League.

Experts also reported a growing interest in using esports to promote fast-moving consumer goods. For example, Coca-Cola and Kellogg’s are already setting the stage for that, after signing lucrative deals with Major League Soccer and Overwatch League in 2019. Others are choosing to invest in brand ambassadors like in the case of Procter and Gamble who recruited Dota 2 Player RAMZES666 (Roman Kushnarev) as their brand ambassador.

Earlier this year, automotive giant BMW also revealed its plans to expand its esports presence by partnering with five leading League of Legend teams. The increased advertising exposure is naturally driving the esports industry forward while promoting their brand in this symbiotic relationship.

Esports Growth Shows No Signs of Slowing

Although esports mildly suffered from the suspension of live stadium events, the industry is showing no signs of slowing down in revenue and fans. The advertising revenue brought in by different brands is expected to hit $1 billion in the next two years, as more companies recognize its potential. Experts also predicted the industry revenue to grow to around $1.8 billion by 2023, a figure that now appears grossly understated given last year’s revenue. That shows that 2021 is the perfect time for betting operators, advertisers, and punters to consider esports betting more seriously.

This article does not necessarily reflect the opinions of the editors or the management of EconoTimes