The esports phenomenon has become a billion-dollar global industry. Esports online betting has evolved into a popular sports betting market at numerous online gambling sites that also feature different types of casino games. see also the top Canadian casino sites.
Nearly half a century ago, the first recorded esports event (before the concept of esports was conceived) was held in 1972 at Stanford University, where the vintage video game Spacewar! was featured. Spectators could watch the game being played by multi-players in a competition environment. Since then, fast-tracking into 2022, the popularity of professional esports continues to expand at an astounding rate. More spectators, esports professional tournaments and professional players are making an appearance daily.
The market value of esports has also grown exponentially in the last two years. In 2019 the global esports market was valued at $957.5 million. Over the last two years, the market has grown 10% to have an estimated market value of $1.08 billion in 2022. The esports market value is forecasted to grow to an estimated $1.62 billion in 2024.
Video games are now more mainstream than ever, and esports has changed how we view professional sports. Continue reading as we delve deeper into the factors that contribute to esports’ astronomical success.
It Offers a Recognised Professional Career
Online gaming is no longer just for fun. Many professional gamers make a legitimate career out of it. Anyone can become a professional gamer with the proper training and hard work. You don’t need to be physically strong and agile to become a professional gamer. Where kids in the past dreamed of playing professional rugby, football or cricket. Today’s kids are dreaming of becoming professional esports gamers.
The top esports player earned $7 million last year. The top team, Team Liquid, earned total winnings of $40 million. That doesn’t include sponsorships. Total sponsorships in esports were $641 million in 2021.
Esports Includes Traditional Sporting Spectatorship
Just like in physical sports, esports gamers and teams have fans worldwide. Spectators who can’t make it to the live event can watch each game unfold on YouTube or Twitch. Competitions and tournaments are free to view and easily accessible. Some channels have 24/7/365 live streaming.
There are also rivalries between teams and competitors in esports, underdogs, new players and teams trying to make a run for the title by challenging long-term gamers.
Video games and online gaming are widely accessible. Anyone with a smartphone, a computer or a console can start playing any video game. You can play video games at any time and work on your strategy. If you want to get involved in physical sports, you need a gym or a field to practice. Online gamers are also very welcoming and happy to assist new players where they can. Online friendships and group interconnections are made quickly.
Access to Superior Games
The quality of games and online games have improved dramatically. Graphics and user interfaces are crisp and realistic. In the last decade, technological advancements in virtual reality (VR) and 3D have made this possible.
Advancements like augmented reality (AR) convert a player’s physical world where players experience the game from the inside. It’s truly remarkable what has been accomplished so far. At the rate of technology changing every day, we only expect more progress from developers.
Esports and esports betting has become a billion-dollar business from unassuming beginnings in the last century. Its vast fan base and popularity will continue to grow. More and more big brands are getting involved in sponsorships, and more kids and adults are becoming professional gamers. Competitive sports and video games seem to be the perfect marriage.