eSports Revenue Projected To Double In 2020
The trick to turn the current eSports boom permanent is effective consumer education. This according to Martin Bradley, who is the research director in technology and entertainment at global consumer research giant 2CV.
Bradley’s comments followed a recent estimation joint-released by 2CV and fellow market researcher ProdegeMR regarding the current status of eSports and the rate at which the industry is expected to grow over the course of the remainder of 2020. eSports gambling revenue, say the research specialists, is projected to grow to a phenomenal $14 billion by the time the current year is out – effectively doubling 2019’s figure of $7 billion.
eSports Filled The Gap
It’s difficult to imagine that this is the same industry hardly even talked about as little as 2 or 3 years ago. Stay at home orders and a protracted hiatus on major traditional sports tournaments and events did the industry more than just a couple of favours. Gamblers have in recent months been actively looking for new ways in which to wager on sport-like events and outcomes and eSports has increasingly been filling the gap and meeting those needs.
And the good news is that this particular understanding of current trends is based on more than a hunch. 2VC and ProdegeMR’s survey involved a total of 1,028 gamblers between the ages of 18 and 64. Of those who participated in the survey, 59% reported having reduced their overall spend on gambling and betting products and entertainment. 32% reported having actively explored new products to bet on, while 24% reported having realigned their focus so as to incorporate alternative forms of betting.
Raising Awareness Is Gold
Good news for the industry is that at least 22% of all gamblers who didn’t previously consider betting on eSports as something they’d be interested in trying, are now considering doing exactly that. What’s more, 62% of the respondents indicated needing more information before coming to any sort of conclusion about eSports.
If eSports has managed to benefit from just one thing, then that thing would have to be a massive rise in awareness of firstly its existence, and secondly, that it’s an industry involving so much more than just a couple of guys hanging around and playing computer games for a lack of anything better to do.
As long as more time and effort is spent educating betting enthusiasts on eSports and on what the industry has to offer, a bright and promising future beckons.