Last year, eSports revenue in the U.S. was $54.1 billion and experts believe it will reach $72 billion by 2027. However, other eSports industry analysts are a bit more skeptical about the growth of the eSports industry. In this article, we give you a comprehensive eSports Betting Market Analysis to see where eSports is heading.
According to sports news, American eSports teams owners are having a hard time turning a profit or even breaking even. This is because they are realizing that operating a traditional sports team is not the same as an eSports team. Furthermore, gaming publishers in North America like Riot and Blizzard are operating those leagues at a loss or just breaking even.
Despite these setbacks, in the sports betting industry, eSports Betting is actually doing quite well. In fact, the gambling analysts believe the volume from those who bet on eSports will grow well into 2027. Furthermore, as a new sports league, eSports is very far away from reaching its growth limit and plateauing.
eSports Betting Market – An Economic Powerhouse
While American eSports teams are having trouble staying afloat, this is not the truth in other eSports markets. For example, eSports leagues in Asia and Europe are thriving with billions of dollars at stake. Furthermore, eSports Betting in South Korea and the rest of the world is on the rise. In addition, eSports leagues and teams in Asia do not have problems finding sponsors and draw large crowds.
According to analytics companies, the global eSports audience will rise to 641 million by 2025. This is almost twice the audience they had in 2019. Even though eSports investors are slowing down, eSports still enjoy a lot of endorsements and investments.
In 2022, 6 different eSports title had peak viewership in the multi-millions. The LOL World Championship had over 5 million viewers and IEM Rio Major 2022 had 1.4m peak viewership. In addition, PGL Major Antwerp had 2.1 million viewership while, PGL Major Stockholm had 2.7 million viewership.
Of course, these numbers pale in comparison to traditional sports but they are nonetheless impressive. However, they do show a lot of gains and sustainable audience interest. Even though the viewership numbers might be lower, esports audiences are highly sought after.
Audience demographics typically comprise young, higher-income, tech-savvy males. Needless to say, they are a valuable target audience for marketers. Especially since traditional sports market usually miss them and are a goldmine for traditional sports clubs to find new fans.
The Growth of eSports and the Future
Currently, the global eSports market is growing strong and America eSports organizations and team owners are shifting their position. This is because they are learning from other countries and realizing that marketing eSports is different than traditional sports.
In the gambling market, more eSports Betting Websites are available. This is because the gambling industry is cashing in on a consumer market never before available.
In addition, eSports is becoming commonplace in educational centers like high schools and university campuses. More universities and colleges are treating their esports programs as they would their American football programs, investing both money and training to grow their departments. Furthermore, several of them are beginning to offer eSports degrees as a response to its popularity.
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