Following the rise of digitalization, the world of competitive gaming has grown into a $1.1 billion industry. Fundamentally, this is a testament to the sector’s global popularity and financially lucrative nature.
However, having risen to prominence throughout the 21st century, there are question marks surrounding the market’s longevity, particularly concerning sustaining its viewership figures. In relation to the market’s growth, eSports have seen an undeniable rise regarding its global revenues and viewership.
According to a report by BetMGM, originally known as playMGM, the sector’s spectator levels have continued to reach new, unprecedented heights since 2016. Global casino giant Betmgm bonus code options provide some very exciting free bets and bonus money for new players and there are plenty of options to choose from when looking to place a sports wager.
To showcase the industry’s progression, between 2017 and 2018, the industry’s viewership numbers grew by 45 million in reaching a total of 380 million. Impressively, however, as per articles detailing the sector’s projected growth in 2020, eSports’ audience is estimated to reach 495 million people.
A New Era For eSports
With more and more people tuning in to watch eSports than ever before, the industry is experiencing a real boom. People who might have once scoffed at the concept are now more interested than ever before.
Streamers like Ninja and Dr Disrespect have reached celebrity status garnering hundreds of thousands of views across streaming and content platforms.
Groups like Team Liquid are dominating competitions with net winnings in excess of $32,000,000 and capturing the minds of young, aspirational players dreaming of making it big in their chosen games.
The variety of eSports games is also a worthy consideration, those sports fans accustomed to the horses, dogs, football, etc. can now explore anything from deeply tactical games such as Dota or League of Legends to something far more fast-paced and action-packed like Call of Duty or Rainbow 6 Siege. Of course, there are still more direct parallels such as eSoccer games!
The Future of eSports Industry
Despite representing the modern sporting culture, it has shaken hands with the traditional sporting world as well. In the Jakarta Asian Games, Digital Gaming made its debut as a demo sport, in the 2023 Pan American Games in Santiago, it is likely to be introduced and is being considered to be a side event at the Paris 2024 Olympics. The liaison is being discussed as an avant-garde sports confluence that will open newer avenues for the world.
Now that you’ve got the answer to the question that is eSports a billion-dollar industry, there is another noteworthy fact you should know. The grandest digital gaming competitions take place at stadiums and due to the pandemic, it has dented a major source of income for the organizers and game owners.
Nevertheless, once the virus steers clear, eSports future growth is on a steady uphill climb, and it will likely come out with newer ideas to make people fall in love with gaming.
If you are still overlooking this industry, then you are missing the biggest opportunity. This industry has immense potential that any business can leverage by making its game application.