The eSports industry has come quite a long way within a short time. About two decades ago, it was almost impossible to imagine eSports becoming a thriving mainstream industry with professional players, big brands, and organizations investing in the space. However, many eSports fans nowadays discuss the possibility of the industry outgrowing traditional sports. A closer look at the eSports journey with expert guidance will help shed some light on the topic.
One reliable way of predicting the future of eSports is by considering the revenues and extrapolating the data. Unfortunately, many industries have been experiencing difficult times over the last few years due to the global economic downturn.
The revenues for most industries have reduced significantly as a result. Likewise, the eSports industry has also had its fair share of challenges. However, revenue trajectory has been going upwards throughout the years, with numbers set to continue growing even faster with time.
One of the most trusted sources in the industry made consecutive, relatively accurate predictions regarding the industry’s revenues for 2019 to 2021. In 2019, the eSports revenues were $950 million. The figure grew to $$1.13 billion in 2020, crossing the ten-figure threshold for the first time. 2021 revenue was $1.38 billion. The same source has predicted that the revenues for this year will be close to the $2 billion mark and will continue to grow for several more years before hitting a plateau.
The biggest chunk of revenue will be generated from sponsorships, broadcasting rights, and media deals. The figures are still relatively low compared to the revenues generated by the traditional sports industry, but the growth potential is high.
Another reason industry experts predict that eSports may become more prominent than traditional sports in the future is the rapid technological improvements that align with the eSports industry.
For example, gaming companies will likely continue to release advanced gaming consoles as they try to dominate the highly competitive market. The results are that eSports will continue to be more entertaining and attractive to more players and fans, making the industry grow more in popularity.
On the other hand, technological advancements have relatively fewer effects on the gameplay for most traditional sports. Therefore, according to most experts, the room for technological improvement in traditional sports from what is currently there is relatively tiny.
Online betting has been one of the top contributors to the rapid growth of the eSports industry. The popularity of online eSports betting has grown a lot over the last two decades. That was primarily thanks to the introduction of eSport betting markets in many sports betting sites, making them available to more people. In addition, eSport betting sites also grew in popularity as smartphone owners increased worldwide. EsportRanker also contributes to the growing popularity.
However, the popularity of betting on traditional sports has been growing even more rapidly over the two decades. According to experts, that can be the sole reason traditional sports will remain more prominent than eSports for the foreseeable future.
Statistics indicate that more than two billion people are currently aware of eSports. However, the number does not necessarily reflect the number of people who actively play or follow eSports matches and events. Instead, it reveals the level of awareness regarding the growing industry.
The result is that the number of eSports players who play at amateur levels is increasing because of growing awareness. One of the leading contributors is the effective marketing scheme utilized by most game developers.
Users can also access a wide variety of eSports games from the devices that they already own, including laptops and some smartphones. Participating in eSports and potentially advancing to the professional level thus does not take much for anyone passionate and dedicated. That is a good indicator that the eSports industry will continue growing for a long time.
Despite the numerous indicators for the eSports industry growing to become a big industry, most experts agree that the traditional sports industry is just too big for the eSports industry to surpass it. Furthermore, the traditional sports industry also covers a broader demographic, including people of all ages and lifestyles.
That is unlike eSports, which is generally for the younger demographic interested in technology, which limits how big it can get. Thankfully, there is enough room for the two industries to continue co-existing in the future without limiting each other regarding their success.
Another thing on which most experts seem to agree is that online eSport betting will likely be among the main contributing factors to how big eSports will grow. That is because betting usually makes fans more interested in the matches and events on which they place wagers.
In addition, top betting platforms provide eSport betting tips to help punters new to gambling on eSports online. ESports need more people to develop a passion for the games, and wagering platforms will work the magic.