- Esports has increased substantially in profit and interest globally in the 10th year of operation.
- U.S. states that are adapting legal sports betting are including esports.
- Europe has seen half of its sports wagering come from esports during the pandemic.
- Esports are projected to make $14 billion in worldwide revenue this year
LAS VEGAS – Esports has been on the rise amongst people from all over the world and the COVID-19 pandemic has done wonders for its popularity.
Of course, the lack of live sports has driven people to look for other sources of entertainment and esports have been a no brainer for many.
Esports started in 2010 and was a difficult concept for many to get behind but 10 years later it has grown to be extremely profitable to the sports betting industry.
While sports betting in the US is expanding, esports has also been added to what is allowed in the legal sports betting for the states.
In fact, Nevada approved of its first single esports tournament in 2016 and has approved 13 esports leagues and tournaments in the last three months.
Esports has also made a mark in Europe.
Since March, half of all sports betting has been from esports and it has been the No.1 category globally in total wagering.
It is expected that the worldwide gambling revenue made from esports to double to $14 billion this year alone.
Additional research also found that 30% of gamblers who are betting on esports have only started since March.
“I expect that within the next five to 10 years in North America, esports will be third after the NFL and NBA in terms of total wagering,” said Seth Schorr, chief executive of Fifth Street Gaming and founder of the Nevada Esports Alliance
The huge growth in esports in such a short time, even given the unprecedented circumstances, has launched the industry into a new height in worldwide sports gambling.
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Adia has a background in sports writing and strives to provide content that gives the readers accurate information. As a storyteller, she also works hard to create stories that are engaging to the audience. Whenever she’s not writing on sports betting news, she is getting her heart broken by every sports team in Georgia.