PALM BEACH, Fla., June 24, 2021 /PRNewswire/ — Beginning with the lockdowns that came with the pandemic, gamblers shifted away from the traditional betting areas due to the impact of the coronavirus pandemic on live sports, and they moved towards other betting properties such as esports. Many gamblers who had never tried betting on esports before, found a new way to spend… and new and exciting ways to bet! According to global consumer surveyors 2CV and market analysts ProdegeMR, this rise in newcomers is why the Esports global gambling revenue was set to double to US$14 billion in 2020. In recent years, esports has exploded into the mainstream, moving from a niche to a central form of entertainment across the globe, and ticket sales are shifting from the arena to the internet. While esports may have once stood for a subset of sporting culture, it has become a complete industry in its own right with the current developments. According to a report from Valuates Reports, the global eSports market size is projected to reach USD 1860.2 Million by 2026, from USD 691.6 Million in 2019, at a CAGR of 15.1% during the forecast period 2021-2026. Another report from Market Insights was even more optimistic saying that the global eSports Betting market was valued at 12670 million in 2020 and is projected to reach US$ 20730 million by 2027, at a CAGR of 13.1% during the forecast period. Active gaming and tech companies in the markets today include: Esports Technologies (NASDAQ: EBET), DraftKings Inc. (NASDAQ: DKNG), with Esports Entertainment Group Inc. (NASDAQ: GMBL), Penn National Gaming, Inc. (NASDAQ: PENN), Score Media and Gaming Inc. (NASDAQ: SCR) (TSX: SCR).
Major factors driving the growth of the global esports market size are the increasing popularity of video games, formidable investments, rising live streaming of games, and increasing infrastructure for the league tournaments. The Valuates report said: “The increasing popularity of video games is expected to drive the esports market size. The online gaming market is growing at a healthy pace due to factors such as increasing acceptance of advanced gaming technology, evolving customer entertainment preferences, rising income levels, and increasing demand for mobile gaming. Furthermore, the growing mobile penetration and increased internet access are expected to fuel the esports market size.”
