It might seem like a ridiculous suggestion to say that an industry that sells out arenas worldwide isn’t mainstream. My argument is that it isn’t mainstream because of how weighted it is toward a demographic. Overwhelmingly, those who partake in professional video gaming, as well as those who watch in-person and online tournaments, are 35 and under. However, if we look at a truly mainstream sporting market like football, it appeals to a much broader demographic.
Many in the eSports industry challenge themselves to create a product that can dazzle their audience and appeal to those who might not be the traditional video game target market.
How Betting Markets Provide More Visibility
One of the most effective ways to do this is by leveraging a gambling market and attaching it to the product, especially those with a deep-seated root in competitive environments and high-stakes prizes. The gambling market is full of a rich tapestry of gaming ideas, and even traditional casino games like poker have felt the wrath of a new, fresh look. Video poker was one variation of the game that many in the gambling sector weren’t convinced would take off.They said it stripped out the essence of the game and removed the elements of psychological prowess and strategy, but it became just as big of a hit in casinos and found a new audience. Poker didn’t lose the crowd; it’s just a new variant that appealed to a new crowd—it was a subtle difference. Video poker online was another additional layer on top of this.
Still, the idea remained the same for gambling companies: if you offer something that mirrors the product but has a new twist, people will sit up and pay attention. So, is a sports betting market going to fit the bill for eSports, or will it take other considerations for it to obtain a widespread, collective mainstream appeal?
Expanding eSports Markets
The way we worded the title article may make it sound like there isn’t currently an eSports betting market, but there are hundreds. In fact, eSports-only betting markets have been market-leading pioneers in a number of fields. They were some of the first platforms to accept cryptocurrency as a withdrawal and deposit option, which has since been rolled out across the board.It’s helped that cryptocurrency has exploded into the mainstream investing world, with some of the world’s most prominent institutions buying up eye-watering amounts of digital assets. Not only is it on the balance sheet of companies such as Tesla, who made a cool $600 million from their holdings, but investment banking juggernauts BlackRock are now the biggest owners of it.
We’re delving deep into the cryptocurrency side of things because this could arguably be a better avenue for eSports betting companies looking to appeal to a broader market. Their betting options have been around for several years now.
While they have certainly provided an added boost and made professional video gaming a more visible industry within entertainment, it’s still very much in the shadows compared to some of the sports betting juggernauts ranging from football to American football and cricket.
Other Factors For Consideration
One of the biggest positives for e-sports is their range of available games. Although sports betting markets continue to grow and offer an extensive selection of options, an untold amount of games can emerge as a professional video gaming market.So long as the market exists, professional video gaming companies will have an avenue. If the demand is there and it is sustained, derivative markets like gambling, merchandising, and online streaming all help to bolster the strength of the underlying product.
Adrenaline-fueled car racing games are hugely popular online and have a range of specialist gaming equipment. Still, the eSports market is lagging behind some more prominent markets, such as Dota 2 and Counter-Strike 2, so a gaming genre's overlying strength and popularity does not always breed automatic success.
There’s a market for many games, whether free-to-play mobile games or video games that make you think about taxes - as well as those that implement virtual reality designs. While gambling markets can apply to some of them, there are other factors on the table - and each game must be valued based on the strength of their own merits and unique angles.
Conclusion
Although eSports gambling has helped bring a new type of audience to professional video gaming, it remains on the industry's periphery. Given that the most passionate e-sports fanbases are primarily located in Asian markets, the focus for eSports gambling to grow is to try and corner off prominent markets in the UK and mainland Europe.Ultimately, while sports betting will help boost it, we will need to see a massive leap in the number of people who sit down to watch some of these tournaments. Until we see that eSports will remain on the outside of the bigger markets.
However, for an industry that has only been around for a decade and a half - it’s still extremely impressive that it’s even mentioned in the same breath as some of the esteemed gambling markets out there.
