Global Gaming Industry Worth Over $150 Billion with Worldwide Gamers Exceeding 2.7 Billion
PALM BEACH, Fla., Nov. 16, 2021 /PRNewswire/ — FinancialNewsMedia.com News Commentary – The global gaming industry is one of the industries that has grown during the global pandemic. Even before the coronavirus helped propel the iGaming sector, it was on very stable ground and growing from year to year. Primarily popular among bettors around 35 years and younger, eSports betting is a trend that has yet to see its peak. An article by My Poker Coaching (an industry insider) looked at the industry and said that as Generation Z (born between 1997 and 2012) is getting older, the spread of eSports and betting activities will only continue. The article added: “The excitement and uniqueness of the genre attract a growing number of bettors, especially among the up-and-coming generation. Betting on eSports events and specific games brings up an entirely new dynamic we’ve never seen in traditional betting.
Today, eSports betting seems like a part of the large industry that’s here to stay. But, not so long ago, it looked like a passing trend in the betting market. In the early 2000s, eSports started to garner wider attention. At that time, the only form of betting that was available was betting on skins. This form of betting was the prevalent option for close to a decade and a half. Around 2014 and 2015, some online betting sites started offering eSports betting markets to their customers. At that time, only a handful of the most popular video games were available to bet on. The number of markets for the games was limited, so the bettors didn’t have much flexibility compared to traditional betting markets. By late 2017, betting on skins was almost completely banned to prevent underage players from wagering real money. At that time, the eSports betting market experienced another massive bump in popularity. This was a significant step forward for the eSports betting niche. It was the turning point at which the industry moved entirely out of the legal gray area into the real world of regulated betting. With betting markets hosted on real licensed and regulated sites, eSports bettors could finally do their thing in a safe environment…” Active companies in the markets today include: Esports Technologies (NASDAQ: EBET), Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) (TSX:EGLX), Esports Entertainment Group, Inc. (NASDAQ: GMBL), DraftKings Inc. (NASDAQ: DKNG), Melco Resorts & Entertainment Limited (NASDAQ: MLCO).
The article continued: “All of this has contributed to eSports becoming a fully-fledged part of the betting industry. Nowadays, you can find eSports betting markets on nearly every online betting site you visit. There are promotions, special events, and bonuses exclusively for those who follow and bet on eSports competitions. The global gaming industry is worth well over $150 billion. Even more impressively, the estimated number of gamers worldwide tops 2.7 billion. With so many gaming fans worldwide, the rise of eSports seems like an unstoppable certainty that will take over the entire betting industry. Many sportsbooks have already partnered up with eSports teams to promote betting on video games. With all of this in mind, this type of betting is undoubtedly a hobby of the generations to come, and it is here to stay…”