Will eSports Betting Surpass the Popularity of Online Poker?3 months ago
For much of the last two decades, online poker has been one of the most popular forms of betting. Having enjoyed a boom during the mid-2000s, the industry recorded revenue figures of $6.7 billion in 2012, according to Statista. To showcase the sector’s growth, in 2004, the market’s revenue was only $1.4 billion.
However, in many ways, eSports presents a new digital betting opportunity that could upset the apple cart in the online world. While, of course, surpassing the popularity of poker won’t happen overnight, the growth of competitive gaming points towards the potential for it to play a significant role in the future outlook of online betting. So, let’s consider whether eSports opportunities could overshadow online poker in the coming years.
Competitive Gaming’s Immense Potential
At the time of writing, it’s forecast that the global eSports industry will be worth $6.82 billion by 2027, registering a compound annual growth rate of 24.4 percent, as per PR Newswire. Given that the sector has predominantly gained traction since the late 2000s, there are undeniable parallels between eSports’ figures and those touched upon earlier in relation to online poker.
Although this points to the fact that eSports is some way behind poker in regards to market value, it’s worth considering the impact of accessibility on those figures. For more than 25 years, prospective players have been able to access digital poker streams on their computers and, more recently, their mobiles. That luxury, however, hasn’t been afforded to eSports until recently.
Because of the industry’s growth, eSports fans are now able to bet on a wide array of competitive gaming markets at trusted operators. Winners.net provides an in-depth comparison of the best eSports betting sites for prospective bettors to explore, with 22 Bet, Midnite, and VBET being some of the most popular because of their sign-up bonuses and market offerings.
A Need to Secure Longevity
Importantly, for eSports betting to successfully coexist with online poker, it first needs to stay relevant within the gambling world. At present, it doesn’t appear likely that competitive gaming will lose its popularity in the near future, giving it a solid foundation to develop its betting opportunities.
On the face of it, eSports are here to stay. Although nothing is ever guaranteed, the globally-recognized reputations of the market’s sponsors are a testament to its long-term aims. Currently, some of the world’s biggest companies sponsor numerous eSports events and teams, including Audi, Coca-Cola, Intel, Red Bull, and many more, according to Business Insider.
With the industry's long-term future seemingly secured through substantial financial backing, it ensures that eSports betting markets have longevity on their side. Given the popularity of both online betting and video games, there’s certainly scope for the two markets to operate alongside each other for a sustained period of time.
Coexisting Should be the Goal
Surpassing poker as a form of online betting will be a troublesome task. Because of that, eSports markets should initially seek to coexist. As the online poker industry is many years ahead of competitive gaming regards to forming a loyal audience base, outperforming digital variants of the traditional casino game should be a dream as opposed to a realistic goal.
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