Gambling is done across age groups. It is done by the so-called Generation X, Baby Boomers, Millennials all the way to Generation Z. So gaming is known by all, and so is gambling. Although most of the betting and gambling done today is online, it merely shows that gambling is done almost everywhere and in all parts of the world.
Another option is ESports. ESports is fast becoming a significant game-changer in the gambling industry. Esports refers to the organised competitive world of video gaming. Several new esports are popping up, a few of which are PUBG, Call of Duty, Madden NFL, League of Legends etc. These games are played in real-time by people across the globe, and it has sparked an interest in people. With the help of esports, casual gamers can now play online to get up to seven-figure rewards in competitions. Online esports competitions are currently being conducted across the globe because the game is usually free, any number of players can be added in certain games and competition can be quite tight. The matches are announced mostly on Discord and Twitch, which is where most gamers communicate.
According to a statistical study by Newzoo (a market analysis company), 380 million people tune into esports every year, which includes 165 million frequent viewers or, as they are popularly called, enthusiasts.
Now with people from Generation X and Baby Boomers betting on them, with millennials and Generation Z playing them, the gambling industry has changed drastically. To understand this better, it is better to look at numbers. In 2012, the esports market was worth something around 130 million USD. By 2014, it had grown to 194 million USD, and by 2016, a whopping 496 million USD. This figure is expected to cross 3 billion USD by the year 2022. Anyone with a little sense in mathematics can say with surety that this is exponential growth. The situation is similar for the video game market as well. In 2012, global gaming revenue was valued at 70 billion. By 2016, it quickly grew to 106 million USD and crossed 200 million in 2019.
It was in November 2016 that the first esports betting was done legally in Las Vegas, Nevada. Since William Hill became the first winner of the event, it has seen a steady increase across the globe.
Due to its uncapped upside, betting will soon become the single largest money-making opportunity in esports. The amount of money that a small amount of curiosity can rake in expansively large. For gamblers, it is a new arena of opportunities, and if willing to take a leap of faith, can take one a long way.