Introduction
Esports gaming is one of the fastest-growing industries in the world and it’s showing no signs of slowing down. With more people playing esports games and streaming them online, there has been a huge surge in betting on these games as well. Esports betting is expected to generate billions of dollars by 2023 and there are a number of different products and markets that are driving this growth. In this blog post, we will explore some of these major products and markets that are driving the growth of esports betting in 2023. We’ll also look at what you need to know if you’re interested in getting involved in this lucrative industry.
Esports Betting Products
The esports betting market is still in its early stages, but there are already a number of different products and markets available for bettors. Here is a look at some of the most popular esports betting products and markets:
1. Esports Betting Products
2. The Different Types of Esports Bets
3. The Different Esports Markets
4. Where to Bet on Esports
1. Esports Betting Products
There are a few different types of esports betting products available for bettors. The most common type of product is the traditional sportsbook bet, where bettors can wager on the outcome of an esport match just like they would any other sporting event. There are also dedicated esports betting sites that allow bettors to place bets on matches taking place in a number of different leagues and tournaments. Finally, some online casinos offer esports betting as part of their sportsbook offerings.
2. The Different Types of Esports Bets
Just like with traditional sports betting, there are a number of different types of bets that can be placed on esports matches. The most common type of bet is the moneyline bet, which allows bettors to pick which team or player they think will win the match outright. Other popular types of bets include handicap bets, where one team starts the match with a virtual head start; over/under bets, where bettors wager on whether the total number of rounds or kills in a match
The Esports Betting Markets
The esports betting markets refer to the different types of bets that can be placed on esports matches. There are three main types of bets: moneyline, spread, and totals.
Moneyline: Moneyline bets are the most straightforward type of bet, where you simply pick who you think will win the match. The odds for each team are usually displayed as either positive or negative numbers. Positive numbers indicate how much you would win if you bet $100 on that team, while negative numbers indicate how much you would have to bet in order to win $100.
Spread: Spread bets are a bit more complex than moneyline bets. With spread betting, oddsmakers will assign a “spread” to each team. This spread is essentially a handicap, designed to make both teams equally appealing betting options. The favorite will have a negative spread (meaning they must win by more than the spread in order to cover), while the underdog will have a positive spread (meaning they can lose by up to the spread and still cover).
Totals: Totals bets are based on the combined score of both teams in a match. Oddsmakers will set a total score, and bettors can wager on whether the actual score will be over or under that number.
The Future of Esports Betting
The global sports betting market is expected to grow at a compound annual growth rate of 5.84% between 2019 and 2025, according to a new report by Market Research Future (MRFR). This growth can be attributed to the rise in popularity of esports, which are competitive video gaming events that are watched by millions of people around the world.
The MRFR report states that the esports market is expected to grow at a compound annual growth rate of 24.8% between 2019 and 2025. This growth can be attributed to the increasing popularity of esports, as well as the growing number of online platforms and bookmakers that offer betting on esports events.
There are several factors that are driving the growth of the esports betting market. The first is the increasing popularity of esports. Esports are competitive video gaming events that are watched by millions of people around the world. The top players in these events can earn millions of dollars in prize money, and there are also many sponsorship opportunities available for successful teams and players.
This has made esports one of the most popular forms of entertainment in recent years, with audiences worldwide watching live streams of major tournaments online or on television. The popularity of esports has also led to a growing number of online platforms and bookmakers offering betting on these events.
Another factor driving the growth of the esports market is the increasing number of young adults who are interested in gambling. According to a report by Goldman Sachs, millennials now make up 25% of all
Conclusion
Esports betting is growing in popularity as more people become aware of this new way to bet on their favorite competitive games. The major products and markets for 2023 have been outlined here, providing investors with plenty of opportunities to get involved in the industry. As esports continues to grow at a rapid rate, so too will the potential for investments in these areas and those looking to take advantage should keep an eye out for any new developments or changes that may occur over the next few years.