Unless you have been living under a rock for the past decade, you should have heard about Esports. Esports is essentially a competitive video game scene that allows people to compete at a professional level. Esports, however, is not only a glorified way to play video games, but rather quite a massive industry. It is estimated that it will be worth over US $2.4 billion by 2024, with its audience surpassing 890 million people. And yet, Esports betting still feels somewhat foreign to many.
Nevertheless, Esports’ exponential growth in both its popularity and revenue has caught the attention of many a sportsbook, who tend to get involved anytime and anywhere where there is money to be made. Bookmaker’s intentions to explore and exploit the Esports industry have become that much more noticeable and upfront during the global COVID-19 pandemic, which has put most of the “traditional sports” to a halt. In contrast, it left the competitive Esports scene relatively untouched.
Even though the global pandemic has indirectly helped the world of Esports and its online betting, its development and growth have been going strong for a solid portion of the century, so it’s not too out of line to ask a question not if, but rather when Esports will reach the heights of sports betting.
The Rise of Esports
Electronics sports, or known as Esports, went from a niche industry to a major competitor to the “traditional sports” and the entertainment industry in several years. While organized multiplayer video game competitions have been around for over two decades in one form or another, Esports began gaining serious traction in the last decade. This, largely thanks to the improvements in video games, increased popularity, and massive investments.
Due to generational differences, however, it’s not entirely shocking to see many adults having difficulties accepting Esports as anything more than a generational interest of today’s youth. In some parts, the media had something to do with this perception given that Esports hardly receives credit for being a “real sport.” However, the narrative is slowly changing, with the International Olympic Committee officially recognizing Esports as a sport and has already confirmed Esports will be a medal event at the 2022 Asia Games.
Esports expand with The Sims Spark’d
Some of the most popular Esports video games, such as Counter-Strike: Global Offensive, League of Legends, Dota 2, and Overwatch have the competitive side deeply embedded into their core; however, they’re by no means the only game titles involved in the Esports scene. Many games that may not seem like the type to have an ability to transition to a competitive title have found a way to do so, one of which being The Sims.
The Sims may be one of the most popular games in the world, but it’s not exactly known for its competitive side. That, however, changed in the summer of 2020, when a video game company Electronic Arts partnered with ELEAGUE and BuzzFeed to introduce a new Esports series called The Sims Spark’d.
The Sims is in simple terms a life simulation video game that allows players to create and virtually live out the stories they create in the game. In its essence, The Sims is a sandbox game with no defined goals, but even with those limitations, The Sims Spark’d has found a way to turn a non-competitive title into an Esports competition which even allowed online betting.
Sims Spark’d is a game show based on The Sims 4, which redefined reality competitions and took a unique way to enter the world of Esports. Unlike other Esports titles, Sims Spark’d is essentially a virtual reality TV show, where 12 contestants compete to impress the panel of judges by taking on timed challenges to build their characters, worlds, and in-game stories.
Unlike CS:GO, Dota2, LoL, and other prominent Esports titles, where the goal of the game is to eliminate the enemy, The Sims Spark’d is focused more on the players’ creativity and their imagination. Nevertheless, creative competition can be viewed just as competitive as other more violent game titles. This only goes to show there is no limit to where the Esports scene will expand if there is enough interest from the players and viewers alike.
Bookmakers start exploring the world of Esports
With the Esports industry’s commitment to expanding as far and wide as possible came sportsbook’s realization Esports is not just a generational thing but rather another avenue to explore and start offering betting markets on it. While many prominent bookmakers were rather hesitant about Esports in earlier days, offering Esports markets has nowadays become more of a rule rather than the exception for any reputable sportsbook.
Even though sports betting still represents the majority of the betting industry, it’s betting on Esports matches that have seen a significant rise in popularity and revenue in 2020. As reported by reliable sources, Esports generates annual revenue in excess of $1.5 billion with a 34% CAGR (Compound Annual Growth Rate) growth, so it makes sense for betting operators to explore and exploit the opportunity betting on Esports has to offer.
It remains to be seen how will Esports continue to develop and grow after the COVID-19 pandemic ends and traditional sports return in their full glory, however, if the last decade is any indication, it’s fair to say Esports are not only here to stay, but are bound to remain as one of the biggest and fastest developing sectors in the world of betting.
