Tag Archives: esports betting
Why esports betting on the rise during COVID-19 (Part 2)
Bettors have transitioned from traditional sports competitions to virtual
Esports allows people to stay connected without leaving their homes. While major esports competitions were also canceled at the start of the pandemic, many professional competitions have turned to the internet and have begun to take place online. This way, everyone can watch or participate at no risk.
In the absence of traditional sports competitions, many sports bettors have turned to betting on esports competitions. Regular players of casual sports began to turn their gaze to the esports world. This transition has spurred the growth of several brands, such as Unikrn and Luckbox, both of which offer online esports betting.
In particular, LuckBox had an unprecedented explosive performance in the first few months of the COVID-19 pandemic. The company’s chief operating officer, Quentin Martin, said in May that LuckBox’s revenue had increased by almost 13 times, compared with figures reported in November 2019. Similar trends were observed. seen in deposits has increased 10-fold since then. The company also reported an increase in the number of registrations and the average bet size of the bettors.
Online bookmakers are also participating in Bandwagon eSports
Conventional bookmakers quickly noticed the newly created esports games. Many of them were eager to grab a piece of delicious cake and began to include esports services in their product portfolio.
Major sports betting and casino brands have jumped into the esports race, including established names like bet365, DraftKings and Pinnacle. They started offering esports-related betting products to regain their base of operations alongside their existing customer base in the absence of regular betting opportunities. Such trends can also be observed on the other side of the ocean.
In 2020, the Nevada Game Controllers Committee approved licensed bookmakers, allowing them to bet on popular esports tournaments and events from Call of Duty, League of Legends, FIFA, ESL One: Dota 2, Overwatch and DreamHack Masters, among others. Punters certainly appreciated these developments.
Famous esports media outlet Esports Insider conducted a survey of more than a thousand betting players from the UK and the results are quite encouraging. About 36% of survey participants said they were betting on esports when the COVID-19 pandemic was at its peak. About 22% of non-esports players responded that they are willing to bet on esports within the next 3 months.
Why esports betting on the rise during COVID-19? (Part 1)
Let’s find out the reasons why esports betting still on the rise in the Covid-19 epidemic in this article!
The Corona Virus pandemic swept the globe in March this year, causing many businesses to close due to the lack of customers, some temporarily, others permanently shut down.
Gambling activities across countries are significantly affected as many casinos have to shut down worldwide. The sports sector also did not perform well, as many major sporting events were canceled or suspended indefinitely.
While gambling revenue hit its lows globally, many countries reported a spike in e-sports viewership, participation and betting. One good example comes from the UK, where the gambling regulator has reported a staggering increase in esports betting in recent months.
Figures released by UKGC indicate that while many sectors of the local gambling industry suffer a heavy blow, e-sports betting odds have increased significantly.
Total profits from the e-sports betting game increased 2,922% year-on-year, from £ 50,223 in March 2019 to more than £ 1.9 million in March 2020. Similar trends are the same. recorded in other countries, but exactly how has the epidemic affected the esports industry?
The need has taken esports to new heights
The need is a contributing factor in driving the esports industry to be mainstream. With conventional sports competitions around the world being postponed or completely canceled, bettors have begun looking for alternatives to traditional betting and have found them in the sports arena. electronic sports.
Business and consumption have been reduced to a minimum due to social dislocations. This also has an impact on social communication. People have no choice but to find a new source of entertainment and can socialize without direct contact. Many people discovered that when they heard about esports, which explains why there has been a huge increase in viewership and participation rates since the inception of all social activities in March 2020.
