How Betting Companies Are Driving the eSports Industry Forward
At the minute, the eSports industry appears almost bulletproof. During a tough year for every other industry, the sector managed to increase its revenues in 2020 by a considerable amount, with forecasts predicting that the market will be worth over £750 million in 2021. That’s a rise of almost £100 million in 12 months.
With the industry in such good shape, many people may feel as if it doesn’t need to push the envelope much further. The figures are good, so why not let them continue to grow naturally? As with any competitive market, to rest on laurels is to take a step backwards. Thankfully, eSports don’t have to worry about that due to a powerful partner they have by their side.
Betting companies are currently offering greater value on eSports betting than ever before, with specialised and non-specialised bookmakers all taking advantage of the demand. The impact this is having on eSports is incredibly dramatic, and this is why.
They Are Opening Up Participation Opportunities
Part of the stunning nature of the industry’s growth is that it has done it through a niche audience. Before eSports betting first became a thing, only gamers and tech-enthusiasts were motivated enough to invest the time and money into the latest titles. Casual players existed, yet they didn’t have the same engagement because they couldn’t validate spending hours on end playing video games.
Wagering markets changed this completely by introducing the phenomenon of watching other people play games. Studies reveal that spectating eSports is likely to lead to general forms of gambling. Considering that platforms such as Twitch and YouTube pull in hundreds of millions of supporters daily, it’s clear to see that the gambling element is appealing to people who may not have been interested in the pastime previously.
Also, it’s important not to forget about the excitement element that a wager brings to any event. Attempting to figure out which team will win and why is enticing because it ensures there is extra tension. Therefore, anyone who likes to place bets yet isn’t an eSports fan, will consider the eSports arena as a place where they can lay their money, which raises awareness of the sector.
Betting Platforms Continue to Invest in Technology
There are several reasons why the online betting industry is now one of the biggest in the world. People may like a flutter, but they don’t do it in droves just for the sake of spending money. Betting companies understand that they need to add value to appeal to new consumers and engage them, something that’s highlighted by the mainstream use of welcome offers and bonuses.
Of course, eye-watering promotions aren’t the only examples of how wagering businesses forge ahead. They also invest heavily in technology. For example, fifth-generation software is integral to the sector’s bottom line since users require an internet connection to access offerings. By using 5G as a base, betting platforms can provide the latest releases that enhance the playing experience. Max Dubossarsky, a COO of a major bookmaker, recently explained how the brand plans on giving people the option of playing casino games and using sportsbooks in a virtual reality setting. For eSports, this means there will no longer be a gap between real life and what spectators see on their screens.
Source: Unsplash
But it doesn’t even have to be overly complicated for eSports to benefit since small designs can, and have, revolutionised the way customers captivate audiences. After all, there are now more mobile applications in the App Store and Google Play than there are people on the Earth. When Apple told us, “there’s an app for that” many years ago, they weren’t joking. Today, there is so much choice for UK punters that it’s hard to pick between the offerings. Thankfully, the best betting apps differentiate their services based on the sport, whether it’s football and horse racing or eSports such as League of Legends and Counter-Strike. Without this tech that most people take for granted, eSports wouldn’t have access to a significant revenue stream that makes them millions. Even then, most of the apps are available by browser, although naturally there are drawbacks to this way of access.
Both Parties Can Share Data
Big data’s trajectory is as impressive as the rise of eSports. There isn’t a company on the planet that doesn’t invest in the principles of big data due to the impact it has on success. With the correct information, firms can take care of problems ranging from marketing to the safety and security of the organisation.
For eSports, this means they can collect info on gamer patterns and use the insights to offer superior products and services in the future. Betting companies are ideal partners as they constantly accumulate and collate gambling data for the same reason. By pooling their resources, both parties could spot features that are evolving and adjust their offerings accordingly without losing out. Regarding the eSports industry, this means the ever-changing gaming landscape won’t catch out providers and designers since the user experience will already reflect the needs and wants of the players.
In summary, eSport betting markets not only open up new opportunities for audiences, but they also encourage the adoption of essential technology and the sharing of vital data between relevant parties.
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