The pandemic has changed many things, and a shift in internet use is one of them. Although gambling’s popularity has been steadily rising since the integration online happened a few years, the lockdowns that happened globally significantly influenced people’s need to explore new entertainment avenues. The stay-at-home orders affected many markets, and sports were one of them.
The pandemic has enforced a considerable amount of change in people’s lives, and in this case, it was for the better. Without the change in events, the likelihood of gamblers adapting to esports quickly was not unlikely, and with the new form of gambling came a new way to spend at Bitcoin casinos!
This sudden rise in demand has shifted the direction of the market, bringing esports gamblers some prosperous opportunities, and according to well-respected voices in the industry, global consumer surveyors 2CV and market analysts ProdegeMR, the rise of newbies to the esports scene is the reason for the expected to double its revenue which was already sitting at a whopping $14 billion in 2020. With so much growth and promise, it’s understandable why so many Bitcoin casinos are racing to join the movement.
eSports quickly became well acknowledged in the industry, and before experts expected it, this form of online gambling went from a niche to a primary form of online gambling worldwide. Many sports enthusiasts made the change from arena sports to the high-paced options of the internet due to the on-demand opportunity, the ease of accessibility, and of course, the safety in reference to the global pandemic taking place.
For many years esports stood in the shadows of classic sports, but when the COVID pandemic hit, this quickly changed, bringing esports to the forefront of the future of online gambling. Before the shift in the behavior of gamblers, esports fell into the sports betting sector of gambling. Still, now with the exponential growth of the portion of the market, esports has become an entire industry in its own right.
According to studies done on the esports market size by Valuates Reports, the value of the market is meant to grow from an already impressive $691.6 Million in 2019 to a mind-blogging value of $1860.2 Million by 2026, which gives those interested a CAGR of 15.01% over the span of 5 years.
Like most industries, some powerhouses run the show, and with the market still being reasonably new, most providers have a fighting chance to become the face of the industry. At the time of writing this article about the esports market value being expected to exceed $205 billion by 2026, there was a hand full of some highly prominent figures in the industry, those being;
Market insights have reported that the esports market value is expected to go from its original value of $12670 million in 202 to its projected value of $20730 million in 2027, putting its CAGR at 13.1%.
There are so many elements working cohesively in this sudden rise to fame for esports, and without each and every one of them, who knows if this spike in stardom would have ever transpired. The first aspect of success is that esports can create that happy medium between old school trends like sports betting and joining them up with a fresh new take of Bitcoin gambling potential, creating a combination of video games and interactive technologies.
The growth continued with the introduction of tournaments, branching out into the competitive side of esports, expanding the value and possibilities of the industry. In the years leading up to esports, video games became increasingly popular, making up a market value of $178 billion in 2021, which is expected to rise to the amount of $268.8 billion in 2025. This growth within the video games market is one of the driving forces behind the success of esports.
As you can see, esports has not only shown a lot of growth, but it also shows a lot of promise for the future of online gambling at Bitcoin casinos. The increased acceptance of advanced gaming technologies has led to the fast growth of online entertainment. Esports does a phenomenal job at being the perfect mix of all the elements of gambling, help the transition of gamblers’ entertainment preferences. On top of all these elements, esports also has the option of mobile play, which adds to the ease of accessibility and freedom when it comes to your entertainment, which is expected to fuel the rise of the esports market.
BREAKING NEWS!- Esports Technologies (NASDAQ: EBET) has filed for a patent for live streaming wagering technology, which will give players the ability to wager in real-time across many different live streaming platforms. The company guarantees that the technology is expected to enhance and amplify the gambler betting experience for both sports and esports betting events. This technology will allow for esports wagering across all the leading live streaming platforms such as Twitch, YouTube, Amazon TV & Gaming, Facebook Gaming, Hulu, among others.
By reading this article, you will see this industry is taking the gambling market by storm, bring a whole new range of possibilities. With all the correct elements coming together at the right time, some would say it was the perfect storm, bringing about the mammoth opportunity of esports and the billion-dollar industry that comes with it.
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