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There’s been a lot of change in the gaming business in recent years. Technological and graphical advancements, more support from game creators, corporations and academics and a growing fanbase are propelling the industry forward.
Digital currencies are becoming the norm, opening doors and allowing for new and different games and interactions.
The video game business is no longer aimed just for the casual gamer, as it once was. Of course, many individuals still love playing games casually, but there are also those hardcore gamers and fans of competitive games. So it is no wonder that more and more new games are being introduced to the market including competitive multiplayer titles.
One newer title is the free-to-play multiplayer first-person shooter game Valorant, which was developed by Riot Games and launched last year. The game is enjoying more and more popularity and betting on Valorant is gaining more attention. While at the moment, players from the UK are not allowed to access this betting page, users from Germany, Italy and many more are able to place their bets on booming esports games and have the chance to win real money.
Online betting is growing fast
The betting sector, which has grown dramatically over the last couple of years during the pandemic, has also got involved with video games more closely. The internet betting market is vast, and it includes all kinds of different ways for people to bet. From old-school horse races to slot machines and online sports betting, to play them just click here.
It is especially apparent that online betting providers have discovered the booming esports market. But what are the reasons for that? Why are esports interesting for the gambling industry? And what are esports in the first place? Regular readers of Esports News UK will already know the answers to these questions, but for everyone else:
What are esports?
For the few of us who are not familiar with the term esports, read on. Most people are familiar with the names Cristiano Ronaldo, Lionel Messi and Tom Brady, who are frequently regarded as the faces of their respective sports. The names of the new stars in the sports community are far more creative. Perkz, Faker and Doinb may not be as well-known as Cristiano Ronaldo, but these esports stars are celebrities in the gaming world.
Perkz, Faker and Doinb are examples of professional players in League of Legends – one of if not the world’s most popular PC video game. LoL is one of many competitive games that has an engaged fanbase, with huge international tournaments taking place. In some places, academies and courses have been launched to help young players pursue careers in this space.
So, simply defined, esports are competitive video games with a tournament-based structure. These games include popular, team-oriented multiplayer online battle arenas (MOBAs) to single-player first-person shooters (FPS), or virtual versions of physical sports, like FIFA. And with all sports or competitions, there are winners and losers, and where there is a winner there is the opportunity to bet.
What advantages do esports offer?
Well, there are some very convincing arguments as to why the gambling sector finds esports so attractive. One really simple but extremely powerful reason is simply the size of esports.
Esport players are tempting choices for rich corporate sponsorships because of their tremendous popularity – some tournaments draw more than a million concurrent viewers – but the fluidity of esports across international boundaries and absence of global regulations make them difficult to manage. The game publishers tend to set the rules in their esports, though organisations like ESIC (Esports Integrity Commission) works to prevent cheating and match-fixing.
Innovations in sports betting have recently driven the sports industry to new heights, and you could expect more partnerships like this in esports. For example, outside of Nevada, the first collegiate sports contract with a gambling firm was made. According to Bloomberg Tax, the agreement between the University of Colorado and PointsBet, an Australian-based bookmaker establishing its US headquarters in Denver, is valued at $1.625m and includes tax breaks.
This deal appears to be one of the latest in an explosion of partnerships between bookmakers and teams or leagues, but it’s said to be the first collegiate agreement of its sort. So where there is money, there must be betting.
The community behind esports
Another reason is the size of the community that esports is fostering. On streaming websites like Twitch for instance, people can watch others play. The platform has more than 30m average daily visitors and appears to be growing. On those streams, people can watch, learn, interact and give each other tips for gameplay.
That attracts more interested people and produces stars, moments, memes and more. The best players have, as mentioned before, become superstars, so people want to tune in and watch them to see who’s the best.
Online betting providers saw their chance in this market and profited. Esports revenue in 2021 is expected to exceed $1.084bn, excluding betting income. The esports company TGS has created white-label esports experiences for over 15 companies, connecting with over 200,000 players. And by delivering prediction games, organisers are able to improve fan and brand engagement.
The market is growing constantly, so online betting providers entering the sector comes as no real surprise.
Which games are the most popular?
As mentioned before there are vast amounts of online games available for betting. The most popular ones among the esports sector are Dota 2, Counter-Strike: Global Offensive, Fortnite, League of Legends and more.
These games are enjoying immense popularity and some of them are being compared in their own rights to common sports like tennis, golf or cricket. While football is still the most popular sport, esports has proven it can feature entertainment tools that no other ordinary sport can offer.
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