Esports is growing, and so is the need for betting sites like 22Bet. They provide great odds and a variety of markets. But what does the future hold? Is there a clear roadmap for growth? Can esports betting grow like fantasy football? What steps are being taken to speed up its growth?
Daily Fantasy Sports
Daily Fantasy Sports, or DFS, has recently taken a strong lead in the sports betting market. Several operators, including PrizePicks, offer this style of betting in esports.
Cody Luongo, Head of Communications at Rivalry, said, “Look at traditional sports. Legalized betting has led to more viewers and increased sponsorship value.” Data shows that when people place a bet on a football game, for example, they watch for longer. So, for instance, if it’s a blowout, but they want to bet on one play at the very end, they will watch the entirety of the game.
Introduction to Traditional Markets
Esports is slowly entering mainstream markets, as seen in the betting industry. Esports betting used to happen mostly on esports-only sites five or six years ago. You can also find it on traditional sportsbooks like DraftKings, Bet365, etc.
This shift to traditional sportsbooks helps esports gain recognition. It boosts betting activity and attracts more viewers. Luongo said that in 2022, esports betting comprised “around 80/90% of the betting handle” at Rivalry. But, it only accounted for about 2% of all betting worldwide.
Increase Viewership and Understanding
Esports betting has a unique challenge: each game is different and has complex rules. In traditional sports like the Premier League, MLS, and UEFA Euros, the rules don’t change. This consistency makes it simple for bettors to move between leagues. Games like Call of Duty and Valorant are quite different in esports. They require more knowledge for effective betting.
“People bet on what they understand,” says Darius Gambino, a Saul Ewing law firm partner. “Esports takes more time to learn, but once people get into it, they check stats and results like any other sport.”
The Global Market
The esports betting market differs significantly worldwide. Japan, South Korea, Germany, and the UK all have large esports betting communities. It’s common for viewers to get involved. The United States leads in earnings, with a projected market volume of $721 million in 2024. This data comes from Statista’s Esports Betting forecast. Still, the level of engagement isn’t as strong.
The link between esports betting and the community isn’t as strong in the US as in Europe. Bookmakers are making a lot of money, but esports organizations aren’t getting any of it. The international scene proudly showcases teams and leagues with betting sponsors. In contrast, the United States still has a long way to go. We want a better partnership between esports and betting. This will help strengthen the esports industry.
The Future
As esports betting grows, it faces key challenges, especially in the U.S., where laws vary by state. Fairness, integrity, and responsible gambling are still key issues, and discussions will continue for years to come.
Despite this, esports betting has room to expand through accessibility and sponsorships. Many fans don’t realize they can bet on esports, and increasing awareness could drive growth.
“In 2022, esports was Brazil’s third most popular betting segment. Many fans don’t know where to bet, but once they do, the market grows.” – Cody Luongo, Rivalry.
Bill Pascrell notes that esports doesn’t bring in much profit for developers. He suggests that betting might help fill the revenue gap.
Esports has the potential to innovate betting. It can use new technology to draw in esports fans and traditional bettors. This will offer unique and exciting experiences.