Betting on sports has been popular since the start. Esports betting, on the other hand, is rather new. Still, the latter has garnered a huge rise in popularity in just a couple of years. Even though there are still many sports fans who focus on traditional matches and games, more and more people get interested in this new type of betting.
Traditional sports and esports betting both falls under the category of betting on sports. They are reliant on bookmakers and sportsbooks that offer specific odds such as tie-ups, scores, etc. The process is simple. Players predict an outcome and wager some money on it.
The same principle applies to both. But, how has this changed in this past year? Below you’ll learn about the market growth of both traditional and esports gambling.
Interesting Stats and Facts
The market analysis performed by GyResearch lists the following data:
- In 2019, the global sports gambling market was led by Europe. This continent accounts for 47.72% of the market share. It’s followed by China which accounts for 21.23% of the global market.
- The global sports gambling market size is expected to reach 203770 million dollars by 2026. In 2020, the number is 142120 million.
Sports Betting Today
We all know what betting on sports is – that’s how popular this activity is. People bet on all kinds of sports and odds. Now that they can do this online, their options are virtually limitless.
Today, players can also bet on esports online. esports is a term that involves playing video games competitively and professionally. The idea of pitting each other in video games is not new. However, betting on it is one of the newest additions in sportsbooks.
Even so, it’s now a multi-billion dollar business. You can find esports in many highly rated casinos. Betting there allows you to choose between various banking methods, withdraw your potential winnings fast, and choose between many top-rated games. If you are interested in using e-wallets, you should give these Muchbetter casino sites a close look.
Some people still argue that video games are not as ‘’real’’ as professional athletes who train every day. However, esports teams train as frequently as athletes. They spend hours on end playing on the computer, figuring out new tactics and strategies, and looking for teams where they’ll fit in.
The most popular eSport games you can bet on nowadays are NBA 2K, eFootball Pro Evolution Soccer, Call of Duty, EA Sports FIFA, Tom Clancy’s Rainbow Six, Starcraft 2, Fortnite, World of Warcraft, and League of Legends. With their increasing popularity some of software providers create additional themed games like slots at 3 dollar deposit casino platforms to drive even more players to eSport.
Nowadays, major esports competitions and tournaments are featured in large casino venues and sportsbooks. They are scoured by and attract a global audience of bettors.
According to Financial Buzz, sports betting currently holds around 70% of the global revenue for gambling. This is more than any other sector, including casinos, lotteries, and other forms of gambling. European football remains the most attractive sport for bettors, followed closely by baseball.
This percentage experiences an even faster growth thanks to the addition of esports in the sportsbook. Existing bettors are slowly learning the entertainment that video games offer in terms of placing wagers. In addition to this, the option to bet on esports has attracted an entirely new audience of people who are fans of video games.
This report also states that the industry is expected to reach $155.49 billion by 2024.
Even though there are hundreds of sportsbooks and casino sites that allow people to bet on video games outcome, traditional sports are still more widely available to bettors. You’ll hardly find any sportsbook that doesn’t have odds for football. But, many of them will lack esports betting opportunities.
Still, the adoption rate of sport video games has been attracting more and more bookmakers and sportsbooks in the past couple of years. Many sites nowadays offer just as many opportunities for betting on video games as there are for traditional sports. Judged by how fast this is going, we can expect the numbers to keep rising – probably at a much faster rate.