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Esports gambling revenue set to reach more than $14 billion in 2020

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Global gambling revenue for esports is expected to double to $14 billion in 2020. This comes according to new research from global consumer surveyors 2CB and market analysts ProdegeMR. Due to the absence of traditional sports of late, many folks have turned to esports as an alternative method of slating that slight gambling addiction.

Survey results show some new trends

As is to be expected, gamblers are shifting their spending away from traditional betting areas due to the Coronavirus pandemic. According to a survey, 69% of respondents said they reduced spending, whereas 54% stopped spending on sports gambling altogether. This survey gathered responses from more than 1,000 gamblers aged 18 to 64 and examined the current climate’s impact on gambling in the UK. This survey also took a look at how esports could play a role in becoming a new revenue driver for the industry.

The research conducted shows a shifting interest toward other betting properties. Those properties? Esports. According to the survey, 36% of gamblers have made a bet on competitive gaming in the last three months. It even found that 30% of consumers betting on esports only started doing so in the last month. Of these new participants, 22% of gamblers who have never bet on esports before think they’ll do so again in the next three months.

Recent changes to sports betting

This comes on the heels of the recent decision by the Nevada Gaming Control Board to permit sportsbooks to offer wagers on esports titles like League of Legends, Overwatch, Call of Duty, Counter-Strike: Global Offensive, and iRacing.

Licensed bookmakers may now offer the following wager types for esports matches: head-to-head, match winner, and overall winner.

Many leagues, such as the Call of Duty League moved their operations online due to the Coronavirus outbreak. This makes them the perfect opportunity for sports betters to find an outlet for their vice. Thus why forecasters expect to see global revenue for esports betting to double to $14 billion globally this year.

Additionally, Activision-Blizzard just signed off on a new partnership with Xfinity. The Comcast brand has now become OWL’s preferred internet service provider and presenting sponsor of the 2020 online season’s English-language feed for the next two years.

Ryan Goodrich

Ryan has been writing since long before he could even write. He's written resumes, software user guides, consumer electronic reviews, and myriad web content spanning a variety of industries. But now he's writing about video games, which is much more interesting.

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