Can eSports Betting Enjoy Similar Longevity to Online Casinos?
In recent years, both the online casino and eSports betting sectors have reached heightened levels of popularity. As a result, it raises an intriguing thought regarding the potential longevity of eSports betting. So, let’s take a look and see if the potential is there for it to match the long-term success of digital casinos.
How Have Online Casinos Continued to Grow Their Audience Base?
Following the rise of digitalisation, online casinos have been able to attract new audiences as the industry itself continues to grow. At the time of writing, Grand View Research expects the global online gambling industry to reach a market size of approximately £84.5 billion over the next five years, registering a compound annual growth rate of 11.5 percent from 2019 to 2020.
Primarily, the reason that digital versions of casinos have been able to thrive within modern-day society comes as a result of their heightened availability. According to GamCheck, as of May 16th 2020, there were 341 licensed online casinos sites in the United Kingdom alone. This is a testament to the ever-growing nature of the industry, along with a continual market desire to cater to consumer demands regarding accessibility and convenience.
Additionally, as well as the accessibility of casino-related platforms, the sector’s unwavering determination to develop and introduce new, graphically enhanced titles ensures an element of replayability that few other entertainment sectors can master. Crucially, it’s this undeniable range of variation that has been at the forefront of the market’s modern-day success. For example, Karamba’s sister site, Slot Jerry, offers users the chance to play over 400 games, including online roulette and slots, despite being one of the industry’s smaller operators.
Promising Signs for eSports Markets
Fundamentally, online casino operators have been able to establish themselves within the online world because of their commitment to the platform, with the first digital website launching back in 1996. That said, however, there’s nothing to say that eSports betting can’t enjoy the same longevity despite only coming to fruition in recent years. Despite being a relatively new sector within the global gambling industry, the betting aspect of the sector was projected to be worth around £10.6 billion in 2020, as it grew into one of eSports’ biggest opportunities with untapped potential.
In regards to long-term sustainability, eSports is, in many ways, a sector that is driven by the continually-evolving trends of consumers and the gaming world. Although this may seem somewhat unpredictable, it enables betting platforms, such as those listed at Winners.net, to act as a gateway into the latest eSports betting websites and their bonuses. These sites can also specially alter their available markets to ensure that they’re catering to bettor demands.
Although it appears unlikely, in relation to revenue, that the value of eSports’ betting will ever surpass that of online casinos, the importance of competitive gaming to the global betting industry is beginning to become more apparent. Importantly, the central role of video-streaming platforms, such as Twitch, are bridging the gaps concerning market demographics, with the emergence of the sector aiding in engaging millennials.
Incredible Future Potential
Ultimately, there can be no doubts that the current outlook of the eSports betting market has the foundations in place to continue growing in the coming years. While it remains to be seen as to whether the sector can thrive in a similar fashion to online casinos, few can argue with the seemingly untapped potential of the industry sector and its betting opportunities.