Esports Betting Growth Trajectory Mirrors the Rise in Fan Viewership

As different states in the US continue to embrace sports betting, operators are jumping at every opportunity that allows them to offers more gambling options to their customers. That includes esports betting options in both live tournaments and fantasy games. Esports has become a significant component of sportsbooks’ offerings worldwide, with Betway being among the prominent companies in the market.

While the betting market is helping the esports industry become popular worldwide, studies show that the two share a symbiotic relationship. In fact, the growth trajectory of the esports betting market mirrors the rise in fan viewership. Let’s take a closer look!

Fan Viewership

According to industry expert Danni Santana, the growth in the esports betting market is a carbon copy of the rise in the number of fans who view esports. That might appear obvious at first glance since people are mainly inclined to place bets on the game they watch and follow. However, it’s still unknown whether more people are viewing esports often because of the available betting opportunities. That’s particularly in countries like Asia, South America, and Europe, where esports betting is high.

Given how popular betting has become for esports fans, it’s certainly possible that people are attracted to view esports often because of the betting opportunities that exist. While esports betting almost started by an accident with players betting on game objects or items, it was clear from the beginning that esports betting would rise to extraordinary heights. Today, the Betway sports betting app is continually updating their esports offering, alongside other leading bookies worldwide.

Bookmakers Sustain Esports Growth

Given the symbiotic relationship that the two industries share, bookmakers are heavily investing in the esports ecosystem by advertising and sponsoring events. Some interesting examples include Betway, which sponsors ESL tournaments and Rivalry, sponsoring a CS: GO team known as the Fnatic. 

These major players are not only supporting the esports market for advertising purposes, but there’s also another reason for investing heavily in this space. As long as fans continue supporting esports, betting will continue growing. Experts predict that the rapid growth in the industry will reach $16 billion in wager within a few years, with bookmakers earning over a billion dollars in revenue.

How Big Is Esports Betting?

While industry opacity makes it hard to get the numbers right, many bookmakers estimate the industry’s current worth to range at $500 million to $2 billion per year in revenue. The bookies also estimate the average annual wagers to reach over $7 billion. Additionally, esports is among the top 10 money makers in the betting market.

Based on the popularity of the market, it wouldn’t be surprising to see esports betting being among the top spending of the fans. However, bookmakers might need to work hand-in-hand with the game publishers and tournament organizers to boost the integrity of the games and protect gamblers. Fortunately, organizations like the Esports Integrity Commission (ESIC) are paving the way by identifying suspicious betting activities worldwide.