Esports is a modern popular trend in the iGaming field, which has only seen growth for the past decade. Most bookmakers offer betting on Esports, as this is a prospective niche, and the demand for it is growing daily. This is the result of popularization of Esports as an entertainment and more and more people are becoming accepting of this trend, especially the younger generation which is now actively paving the trends.
“Betting on Esports takes a high priority because this area has a fairly wide audience reach,” notes the BetB2B expert.
The total annual Esports betting revenue in the US was approximately $12.9 billion. According to market research, Esports bets are made mainly by young people aged 18-25. It is valuable information for those looking to build an Esports betting business, as it can provide insight into the preferences of a key demographic.
By 2024, the Esports betting market is projected to generate a staggering $24.75 billion in revenue, showcasing its immense potential for growth and profitability.
Esport audience shows interest in the industry
Thanks to the introduction of technological innovations, the Esports betting industry has begun to generate significantly more profit. This has led to the shift from a niche into becoming one of the most profitable industry in economic perspective in 2024:
- The number of views increased because more and more people became interested in Esports. An audience of millions actively follows Esports events whether online or offline. Esports fans generate a lot of income, and streaming platforms pay big money for the rights to broadcast events from the world of Esports. All this increased the income of teams and organizers, thus making events bigger, attracting a higher audience.
- Giant companies from various industries saw the potential in associating their brands with Esports. They are ready to invest large sums in advertising and marketing in Esports.
- Partnerships between Esports and technology companies have reached a new level. Tech companies now look at Esports as an opportunity to promote their products. Rather than an underdeveloped and niche industry.
These are more social factors related to the growth of interest. However, the key factor in profit growth is the audience. This audience is potential players for betting companies that place bets on Esport. And every tournament is an event that brings great volumes and profits to all industry participants.
BetB2B: Popular Esports games and tournaments
Esports is an industry that is developing dynamically and has a whole army of fans. Among the large number of disciplines that are included in the general concept of Esports, the most popular ones need to be discussed in more detail.
League of Legends
LoL is one of the most popular games in the MOBA genre, which has captivated players with its rich in-game processes and strategies. League of Legends has a world championship called Worlds in which teams of professionals from 24 regions of the world compete. It is one of the most if not the most watched tournament in the world. People across the globe actively monitor and cheer for their favourite team.
Dota 2
Dota 2 features fairly complex gameplay and impressive strategic capabilities. The International is a world tournament that takes place annually and brings together the best teams. Players compete to win a huge prize pool. Since the beginning of the said tournament the prize pool of unbeatable and a lot of people were captivated as well as started to understand that Esports has it’s place in this day and age. Overall Valve and Dota 2 made a very big impact on the Esports history.
Counter-Strike: Global Offensive (CS:GO)
Counter-Strike is a famous first-person shooter, a classic version of e-sports. At the ESL One and Intel Extreme Masters tournaments, players show a high level of skill, and spectators worldwide watch the gameplay with interest. The dynamics of battles delight all fans of computer games. The game is very dynamic to watch and the thrill of each round where people are unsure whether their team will take the lead and snatch the winners cup is truly exhilarating.
Overwatch
Overwatch is a team game that impresses with its variety of characters and strategic approaches. The Overwatch League is a tournament for the most potent teams gathered from all over the world. The unique selection of heroes makes every match extremely exciting and unpredictable. To see the best of the best compete for the grand prize is priceless.
Fortnite
It is a battle royale game with a unique building element and colourful gameplay. Large-scale competitions like the Fortnite World Cup bring together the best players to compete for an impressive prize pool.
BetB2B: How do businesses choose an Esport betting platform?
“To create a successful project in the industry, some conditions must be met. First of all, it is necessary to have an efficient and stable infrastructure with the best offers for bettings,” says the BetB2B expert. And the key to an effective start is a working and multifunctional platform.
Essential criteria for choosing a platform for betting on Esport
There is a wide range of offerings in the iGaming business software market. They all have their characteristics and differences. However, there are fundamental requirements that a quality Esport betting platform must meet.
- Developer reputation. When choosing a betting software provider, you need to research its reputation. Any negative publicity surrounding the provider can negatively impact the reputation of the betting site that uses such software. On the other hand, a positive reputation will always add value to a new betting brand.
- Variety of sports. Esports currently features several major games, including League of Legends, Dota 2, Counter-Strike, StarCraft II, Fortnite, Halo, and Overwatch. Betting on these events should be a key component of any comprehensive portfolio. However, limiting options to only these games isn’t practical. Therefore, a top-tier platform will offer extensive betting options across both traditional sports and Esports. For instance, BetB2B Sportsbook provides portfolio bets on over 182 sports, including a variety of Esports options.
- Live Betting. Betting on a sporting event while it is happening, regardless of when it started or how much time has passed, is an exciting feature for enthusiasts. The best betting sites offer real-time broadcasts of events and allow players to place bets on the spot. Therefore, this option must be available on any platform provided by the developer.
- Scalability. The betting platform should be as flexible as possible and easily scalable. This can be compared to a modular system – where any innovative solution can be connected at any time.
- Individual design. The betting software must support the ability to customize the website. After all, every brand is unique.
- Partnership programs. This option should be seamlessly integrated into the betting software, along with management, configuration, and reporting tools for each referral. This will help the website expand its audience and attract new players and partners.
- Payment instruments. The more options for making payments, the better. It’s important to have ready-made solutions for practical work with national currencies and local payment instruments in any region.
- Security and privacy. Betting involves a lot of money and heaps of confidential information from players. Online betting software must ensure security at all levels – from data leakage to hacking and unauthorized access.
- Localisation. Online betting implies the presence of players from all over the world. The platform must provide the ability to interact with the website in local languages.
- Multiplatform and mobility. Adaptation for all possible devices. Allows to reach the widest possible audience. It is especially important for mobile devices. Mobile betting is gaining widespread popularity. More and more players are interacting with betting sites through their mobile devices. Therefore, the platform must offer adaptability when integrating its software.
- Support and update. Leading betting software providers provide post-launch support, guide the company through the business, and offer regular updates. It demonstrates a customer-oriented approach. Therefore, support is an important software provider’s service package component.
The software provider must be reliable, have in-depth experience and market knowledge, and offer the best tools to help take the business to a high level and make it competitive.
Material provided by BetB2B, a platform provider for iGaming.
Also Read: The Rise of Cryptocurrency in Online Casinos: The Future of Secure and Anonymous Betting
