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Betting markets are often a great indicator of the health of an overarching industry. We see it in many sports betting markets. If you take a glance at any site, you will often get the highest number of markets in the most popular domestic sports. So, in England, it’s the EPL, in the USA, it’s the NFL, the NBA, and the AFC, and so forth.
However, over the last decade, we have seen eSports betting markets go from a small section of some pretty niche betting sites to one of the fastest-growing areas of the gambling industry.
Not only have they embraced new ideas like VR gaming and the fusion of cryptocurrency and blockchain, allowing people to explore the full breadth of the market, but also, for those who enjoy betting on eSports, to see just how many markets are now available.
Why Has eSports Betting Become So Popular?
While a lot of the popularity of eSports betting markets can be put down to the popularity of pro video gaming, it doesn’t paint the whole picture. Taking a look at Bovada eSports odds, we can see that many of the markets mirror those we see in bigger professional sports, and this is simply down to the dynamics.
Many eSports betting markets offer team odds, individual odds, and tournament outrights. Due to the team nature of the game and the structure of the tournament, again, it is easy for the oddsmakers to mimic them, and it is also easier for people who might not have a strong idea of how eSports works to be able to develop their viewpoint through the lens of markets they understand.
There’s no denying that the main driving force behind the popularity is the broader appeal of professional video gaming and the eye-watering sums of investment that have poured into the market over the last few years, helping prop it up from a marketing perspective. So, while it is not down to a sole factor, you can see how the atmosphere is there and how it has helped create the environment for a successful subdivision that ticks along nicely alongside the main spearhead of eSports.
Measuring The Appeal
Now, even though eSports have come a long way in a short period of time, there’s still a long way to go until they can rival traditional sports betting markets. Football, soccer, and cricket are still much bigger markets at the moment, but eSports is undoubtedly a niche that betting professionals are keeping a closer eye on.
Market research shows that eSports betting markets doubled in 2024, so while it still might find itself in the shadows of these much bigger traditional sectors, it has not been around, nor is it anywhere near as well-established.
The growth of resources that delve into eSports betting tips and insights shows that not only is there demand for these markets, but there’s also a growing number of people looking to learn more about how they work.
If we examine it based on 2024 growth, accurately pinpointing where the market will be a decade from now is both difficult and enjoyable. The acid test for this market will come when there’s stringent global legislation covering it, backed by prominent gambling nations such as the UK and the US.
Suppose it can pass this test with flying colors and also prove it can continue to embrace new ideas like blockchain and cryptocurrency. In that case, many people will be surprised by how much of a role it will play in reshaping the broader gambling market. However, the market and the appeal must remain as solid as they have over the last decade and a half.
No longer is it about sustaining itself as the new market in the industry; it’s about ingraining itself, getting a seat at the table, and providing a pathway that shows it has longevity and long-term potential to become a serious contender.
The Final Verdict
If we had to answer this now, we would say that eSports betting markets won’t quite match the volume we have seen in the big conventional sports betting market. The Super Bowl is an excellent example of this, with billions of dollars worth of bets alone. Until eSports can rival this market by creating a tournament or event with the same global stature, it is very challenging to see how both markets can grow to a similar size.
Not to mention that sports betting in the US is still a relatively new market; it is not the staple it is in the UK, where the industry has been regulated for two decades. In the US, it wasn’t until 2018 that states began legalizing and properly regulating the industry, and the market has since exploded.
So, in this respect, eSports betting still has a lot of work to do. Still, considering that it is a market with pockets of popularity worldwide and has sold out stadiums around the globe, there is significant potential there if an idea can break through the ceiling and become truly globally popular, attracting the masses.
