Esports Betting Sites Growth in 2015
eSports is an abbreviated word for electronic sports which is a competitive gaming league for professional video game players. This form of gaming competition was made popular in the 90s but really became popular during the 2010s. In 2015 eSports exploded onto the scene and is now considered a viable industry that is able to generate billions of dollars. eSports is still a fairly new sporting competition and is still being developed. One area where eSports is being built up has to do with sports betting. Since eSports have their own leagues, teams and star players; it is viewed no differently than standard athletic leagues in the sporting industry. The following information will explain how sports betting is growing in general and the impact that it is making online.
What are eSports?
It has already been mentioned that eSports is a competitive gaming league. This league has a similar construct that resembles major sporting organizations such as football, basketball and baseball. eSports leagues are made up of franchises or teams. These teams are usually owned by a person or group of people. Most professional eSports teams have managers, directors and coaches. Then there are the players who occupy the teams. The fans and spectators are critical to the success of eSports leagues because without them, the leagues would not exist. Broadcasting and streaming services are also critical to the world of eSports. They are the mediums that allow most fans to tune in to watch the competitions. There are also facilities that are used to showcase competitions and they can be viewed as stadiums.
Speaking of fans there are over 205 million people from around the world who watch eSport events. eSports is as popular as football which amasses a viewership of over 112 million for the Super Bowl. Also, it cannot compete with international soccer competition which generates nearly 700 million viewers for FIFA World Cup events. Still, eSports still continues to amass a large following on its own and it is expected to become even bigger in the near future. This is also a critical reason why betting on eSports games is quickly becoming big business.
Sports Betting and eSports what’s the connection?
People have always betted on sporting competitions and they will continue this behavior now and into the future. As a matter of fact, Las Vegas has elaborate systems for sports betting that are typically used for professional, semi-professional and collegiate games. The world of eSports is no different.
When people betted on video game competitions in the past they did so face to face or with the use of an online chat room or chat box within a game. However, with the growth of eSport competitions, betting on eSports games have become a huge business.
eSports are so big that NBA team owner Mark Cuban is now backing Unikrn which is a huge online eSport betting business. Cuban is a well-respected and knowledgeable investor who will not put his name, money or time into ventures that are destined to fail. Since Cuban is backing an eSports betting business it simply proves that there is something big going on with this type of endeavor.
Generally speaking, sports betting generates close to $4 billion dollars a year. eSports can now be included in the sports betting pool and is expected take a huge chunk of that $4 billion dollar payout. The industry itself has produced $194 million dollar profit in 2015. Keep in mind that eSports is expected to generate $465 million by 2015 and a huge amount of this money will come from sports betting.
Sports betting has become more accessible and efficient since the inception of the internet. People who want to bet on pro or college games can simply get registered on an online site and use their credit or debit card to place their wager. The same holds true for eSports betting. People who believe that certain teams or players will perform well can place a bet to back up their expectations. More and more people will be doing this as the eSports league becomes more structured and competitive.
Laws and eSports Betting
While online eSports betting sites are going to become more prominent in the near future it will be regulated by laws that will be necessary to keep the industry moving in the right direction. Currently, there are four states that allow sports betting and they include Nevada, Oregon, Delaware and Montana. These states are designed for sports betting general even though they have specific requirements for the process. Of all of the places that a person can legally bet, Nevada would be the number one location for this process. Nevada gaming officials have already been establishing protocols for eSports betting.
Online betting is also regulated by states as well, though it might not seem like it is. To keep things simple, online sports betting is illegal. However, if it is being done from an international location, then it is okay. The UIGEA and federal Wire Act establishes a lot of the laws and rules for online gaming sites. Many eSports online betting sites will be set up outside of the US. People can sign up and make wagers on these sites and it will be okay to collect winnings. However, US regulation still has the potential to impede or completely stop some of these sites when it comes to sports betting. Legislation pertaining to online betting is now changing and the new changes are expected to help support the eSport betting industry.
eSports Betting and the Video Game Industry
The video game industry is in fact the backbone of the eSports industry. These organizations create the “playing field” and establish the framework for competition. Video game producers not only make the titles for teams to compete they also donate billions of dollars to teams and leagues in the form of sponsors and investments.
Video game developers do this to sell more of their products and services and to keep more people vested into their material. Some video game developers do in fact support eSport betting sites. Companies that do this understand the earning potential that these sites are able to make.
eSports Betting Sites
While eSports betting sites are not fully functional as a whole there are some sites that people can place wagers. These sites allows fans and spectators to place bets. Online eSports betting sites includes Pinnacle Sports, Bet365, Datbet and 888Sport. Many of these sites use state of the art security features to protect a person’s personal information and they usually have great payouts. Other sites include E-Sports sites, 10Bet.com and William Hill. People who want to wager on eSports should visit these sites or they can out many more that are available online.