Betting is a hobby that is enjoyed by enthusiasts all over the world. The 0.5 Trillion-dollar gambling industry was recently suffering because of the coronavirus. People around the globe are stuck inside their own houses, so it is very difficult for the betting industry to properly function without any kind of sports or casinos. However, this huge industry has decided to shift its focus towards the world of esports. Yup, gamblers will always find something to gamble upon!
Gamblers all over the world started to make this shift towards the video gaming industry back in 2013. In Europe, video game publishers are having a very hard time dealing with this sudden surge of betting in esports. Almost half of all betting since March has been on esports, and some bookmarkers have seen increases of more than 40 times in esports betting in this time.
“Esports is king now.” Says Marco Blume, trading director for the sports book Pinnacle, “Since March, esports has been our No. 1 category globally, and the overall majority of total wagering for us. Every significant bookmaker now offers esports. If you didn’t before, you certainly do now.”
Overall, it is estimated that the worldwide gambling revenue is going to double this year and reach a value of about 14 billion dollars. While gambling is a big part of Europe, it has not yet managed to completely take over the US. States including Colorado, Nevada and New Jersey are slowly trying to get ahead of the competition. In Nevada, sports betting has been regulated since 1949, and the state had its first legal esports bet in 2016. Two more esports tournaments were approved for betting in 2017. After that, betting on esports stopped until 2020. Since March of 2020, Nevada has approved of betting on 13 separate esports leagues and tournaments.
James Taylor, chief of the enforcement division of the Nevada gaming control board said in an interview, “People out there want to bet on something, and our licenses want to offer betting opportunities for their customers, and by the nature of how esports work, the players can sit in their house and still compete.” Taylor also said, “As a regulator, we want to make sure things are done properly with the correct oversight so the entire industry can grow.” According to him, new esports wagering applications by casino operators were coming in at the rate of one-per-day by the mid of March. Taylor and his team approved of all the applications except for two that did not completely satisfy them.
Seth Schorr, chief executive of the casino management company Fifth Street Gaming and founder of Nevada Esports Alliance, said, “I expect that within the next five to 10 years in North America, esports will be third after the N.F.L. and the N.B.A. in terms of total wagering.”
Esports is definitely shaping up to become one of the biggest parts of the betting industry. What are your thoughts regarding betting in the world of esports? Do you want to become a part of this growing industry? Start today and claim your first free bonus in our bonuses section.