With most regular sporting events being put on hold because of the threat of the coronavirus pandemic, sportsbetting outlets are finding new ways to sustain their business. These days, people find themselves turning to radical options for betting and this includes Esports. According to research, the betting revenue from this avenue will reach a record $14 billion this year, double what it was last year.
The main reason for this predicted increase is due to the closure of many traditional sports activities that people used to bet on. Since there are no other alternatives for betting, Esports is the only thing people can turn to for their sportsbetting needs. Research has shown that 30% of people betting on Esports began only in the past month. Those who are on the fence regarding betting on Esports simply need to find out more about it before jumping on the bandwagon.
With the current pandemic keeping people at home, and people looking for other avenues for betting apart from online casinos, the rise in Esports betting is predicted. This rise is set to reach staggering levels with viewers of these matches estimated to hit 644 million in a year or two. Note that this number is currently at 454 million as of 2019.
While some people believe that this is going to be short-lived, others see a huge future for Esports to become a huge part of the sporting industry and the sportsbetting world. With more people watching these matches and being able to bet on them, the industry sees an opportunity to get a foothold and to ensure that they are here to stay.