Online gaming operators want to get into Esports betting because it is the fastest growing vertical in the industry right now. If you are thinking about launching your own online gaming business, but unsure which vertical to choose, then Esports may be the right bet. Not convinced? Read on.
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BetProtocol is building out its Esports betting module, and looks to do live testing in Q2 2020.
Esports is a gigantic and fast growing form of entertainment and sport, so much so that in years past the League of Legends Championship out-paced the NBA Finals in viewership. In 2019, the LoL Championship even beat out the Super Bowl for amount of fans. So what’s next for Esports, why is it so popular, and why is BetProtocol building the tech to let anyone launch their own Esports betting app?
Attention is the Key Driver
With the attention and viewership of Esports set to explode over the next years, it is obvious that anyone in the entertainment industry not paying attention to it will get left behind.
By why is Esports gaining so much in popularity? One theory is that Esports is much more democratic than typical professional sports like soccer or American football. In order to meaningfully reach elite status in such sports, a particular genetic profile and body type is required. With Esports, the barrier to entry is much lower: any able-bodied human with enough dedication and training in a particular video game can reach the top or turn pro.
Don’t believe me? Just check out this guy who went from an unemployed student, to a Youtube 1.5M subscriber Esports star dropping tactical nukes on noobs for a living.
When BetProtocol was in Seoul for Korea Blockchain Week, we got to see first hand how big Esports is in most Asian countries. This is just one of dozens of Esports cafes in Seoul, each sporting hundreds of terminals where hundreds of people can hunker down and play League of Legends, Fortnite, Starcraft, and others.
Demographics Are On The Side of Esports and Esports Betting
As Esports grows, so does the betting aspect around it. In many cases, the Esports betting apps are seeing the same traction with Esports viewers since the demographics are largely the same.
The rise of online gaming on mobile and web based applications has changed the betting landscape to one of instant gratification. Users now prefer to consume their content on-demand, on the go. Modern day living with 100% connectivity has drastically changed the way people interact, and that has impacted entertainment and gaming as well. A young, digital audience all want to be able to consume and wager on Esports anytime, anywhere.
This is a generation on the hunt for instant gratification, with modern-day living coming with time constraints. Day-to-day life is no longer a 9–5; instead, players want to consume their entertainment and betting when it suits — perhaps while waiting for a bus, or sat with a coffee on their lunch break…Virtuals partly have the gaming generation to thank for their rise in popularity. After all, it’s this demographic which has grown up along the latest advances in technology, enjoying games on computers, consoles, smartphones and tablets. — Steven Spartinos for EGR Virtual and Esports Report 2018
Cross-Selling: A Major Opportunity for Casinos
So yes, Esports is massive and gaining in popularity each year. Esports betting is even a big new vertical growing at double digits CAGR each year. But why should casino and online casino owners care?
Cross-selling and tapping into a new audience.
Just like standard casino games of Baccarat or Blackjack, the rules in Esports are simple to understand, and one can quickly pick it up within a few days of study. This is far different from regular sports betting on soccer or cricket, two sports which require in depth knowledge of clubs, players, leagues, injuries, and other obscure stats.
Nowadays people want to be entertained without having to put in too much effort. That’s the truth, and it’s pretty much the reason why streaming services like Netflix and Spotify have largely replaced the cinema and record store.
Esports and Esports betting are perfect entertainment for the under 35 generation, which is exactly why BetProtocol is building out the next generation, blockchain-based gaming ecosystem for them. We anticipate shipping our Esports betting module to bolster our current Casino offering in late 2020. Development is currently underway. To find out more information please visit our website, where you can apply to become an Esports or Casino operator through one of our Scholarships.
BetProtocol enables anyone in the world to create gaming platforms with No coding required. Thanks to BetProtocol’s blockchain technology, these platforms are secure, scalable and regulatory compliant. Its vision is to enable anyone in the world to dream of being a gaming platform owner one morning, and actually be one that same day.