The gambling industry began centuries before most people alive today were born and will most likely continue for decades. When you research the longevity of the betting industry, you’ll realize that the sector has had to experience transformation several times to reach its current level.
The gambling industry comprises two key sectors: casinos and sports betting. Nevertheless, there’s a new kid on the block springing up, and it’s known as eSports betting. In recent years, the betting industry has become popular because of the internet.
If you check search engine queries, you see a lot of stuff related to skin betting, like Farmskins promo codes and a guide to betting in the US. Internet technology is now propelling the eSports industry, leading to the rise of eSports betting.
This article will explore the future of eSports betting.
Predictions for the eSports Betting Industry
Here is an insight into the future of the eSports betting industry:
Casinos Making eSports Bet Markets
Perhaps due to the freshness of the eSports industry, sportsbooks and casinos don’t allow users to bet on eSports events. This is highly likely to change shortly because of the revenue that the rapid growth of the eSports industry has pulled in.
The followership of eSports numbers around 200 million, which is more than the population of several countries. Considering that not all of that population would be interested in betting, a mere 10% of eSports fans would pull in massive revenue for any sportsbook or casino operator that engages them.
A few casinos already allow their users to bet on eSports events. ESports is gaining ground as a game of poker. Some professional poker players are switching to eSports. Many players are fast becoming professional gamers. The prediction is that this number will explode in years to come.
eSports Becoming the Highest Source of Revenue for Casinos
The adoption of the internet came quicker than expected, and so is the virtual world. Facebook recently changed its name to Meta, heralding the virtual world that the company intends to introduce. Virtual worlds are typically accessed with Virtual Reality headsets and allow users to create virtual lives.
The thing is, some online casinos have created VR sections for users to enjoy. Soon, the online casino industry, which is at the forefront of VR gaming tech, will be used for eSports betting markets.
More people are already using their devices for a big portion of the day. If the industry rapidly shifts to eSports, it could become bigger than conventional sports. Online casinos hosting eSports betting would be pulling in a lot more revenue than they currently are.
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eSports Players “Throwing” Games
Players ‘throwing’ games had existed for years before the eSports industry came into play. It has been rampant in sports like boxing and football. Hence, it will probably occur in the eSports industry.
If eSports players can get paid off, they’d be more likely to throw matches. Although eSports competitions pay out big money in the range of hundreds of thousands, betting against yourself provides an even bigger purse. Committing a ‘natural’ mistake to lose a match would be simple. This could further encourage eSports players to throw matches.
Conclusion
The eSports betting industry has a bright future that would speed up with the introduction of virtual worlds. ESports could become the highest source of revenue for casinos that offer these eSports bettings.
Featured Image Source: Unsplash
Narciso Baldo
Narciso Baldo is the Director and Head Coach of Texas Hold'em Questions. He has been playing poker for over 16 years. After spending many years as a professional, he now runs UK poker training site Texas Hold'em Questions. Narciso regularly writes poker articles sharing tips, strategy, news and experience with gambling enthusiasts. Narciso also writes for reputable gambling portal Casino City Times, (bio here). Contact: [email protected]
