The world of the Internet has reshaped gaming, introducing a new term: Esports. While it has sports in it, Esports is a bit different from traditional games like cricket or football. Although eSports carry the same level of competitiveness as conventional sports, they are played virtually. In this, players from every corner of the globe dip their hands in video games, competing in different tournaments and battles and chasing lucrative prize pools.
Gone are those days when online gaming was just a way of passing the time. Now, this space has expanded to include professional teams, gigantic franchises, humongous tournaments, unbelievable prize pools, and passionate fans. Today, big brands shower funds to create their own teams of professional eSports players, playing games like Dota 2, Leagues of Legends, and more for lucrative prize pools.
So, with a new sector of sports emerging, this has set the stage for online bettors. As per the statistics, in the last few years, the Esports betting market has experienced exponential growth, and in 2024, it’s eyeing the $2.5 billion mark.
In today’s world, Esports is spreading like wildfire in the jungle, with both teenage and old-age audiences walking into this world. But online games and tournaments are nothing new. So, what led to a sudden rise in this market? At the forefront of this mind-boggling growth are the eSports streamers. These are the digital pioneers who rule the gaming platforms such as Twitch and YouTube. They have developed a huge audience base by playing games and promoting Esports.
So, in this piece, we will unwind the thread between the ESports industry and the streamers and get a brief overview of the future of eSports betting.
The Rise of Esports Streamers
Esports streamers dropped a bombshell on the gaming industry, taking its popularity and audience base to a new level. Previously, in a normal household, gaming was tagged as a hobby. However, Esports streamers came as a light in this industry, showcasing its potential. Believe it or not, today, a regular Esports streamer earns 10x more than a working professional. The wild popularity of several online gamers has inspired a lot of players to enter this market, dragging in more audiences.
The new generation of streaming platforms like Twitch and YouTube Gaming have significantly accelerated the rise of esports streaming. Such platforms give a custom-designed space for gamers to broadcast their gaming play, communicate with their viewers, and invite others into the group who have similar interests. Apart from that, previously all esports tournaments were held in physical locations. But now, tournament organizers have the option to host it online on these popular platforms.
The impact of online streaming on eSports is not restricted to just the entertainment factor. It has turned out to be a game-changer when it comes to competitive online gaming. If we hail back a couple of years when there was no scope for streaming, eSports was just restricted to a selected group of audience members. But now, from youngsters to mature ones, everyone is a fan of esports. Like you have a favorite team in cricket, you also definitely have a favorite one in ports. Streaming has basically helped eSports reach the corner of this world, catering to millions of people who peek into the virtual battlefields through their mobile devices.
Esports Betting: A Brief Overview
The streaming platforms are having a great time, thanks to the eSports streamers. But now, online bettors have also joined the race to taste the sweetness of this success. Yes! You heard it right. Now, you can step out of betting options like cricket and football and place real-time bets on online video games. Ready to expand your betting spectrum?
Now, you have a bucket full of platforms hosting tournaments, esports events, and campaigns where you can dip your money and win big. With the eSports market getting bigger and bigger, a bunch of new platforms are popping up in the market, offering you sportsbooks and esports betting options.
The market is exploding, and esports enthusiasts and gambling lovers are quickly shifting to this space. Statistics say that the global esports betting market was at the $9649 million mark back in 2021. Any guess where it has climbed now? We got the latest updates, and it was surprising. This market is slowly climbing the ladder, and it will reach $2.5 billion by the end of 2024. That’s not the full stop for it. It will then grow annually by around 7.7%. Guess which country contributes the most to the market? The United States is the king of this space. It generates the highest revenue in this industry, with a predicted market volume of $721.2 million by 2024.
As in all markets that grow from scratch, there are players who make them big. The big heads behind this rapidly spreading eSports market include gigantic bookmakers like GG.BET, Thunderpick, and many more. These bookmakers showered millions of dollars in esports, organizing unique events and tournaments, and promoting the esports culture. But how will an industry run without an authority or regulatory body? So, several regulators stepped into the space, including the Esports Integrity Commission. These regulators handle integrity challenges involving bookies, data suppliers, and event organizers to ensure the market grows following a roadmap. So today, with providers such as DraftKings, Betway, and William, sports betting is legalized in several parts of the world.
As we penetrate deeper into an industry, new challenges and obstacles pop out. So, there are tons of barriers in this industry too. Here, uncertainty in regulations grabs the limelight. Issues like exploring the legal framework of this sector pose challenges for both players and big stakeholders. The cherry on top is the worry regarding responsible gambling as well as suitable protection measures that underline the need for proactive action and strict governing guidelines.
The Influence of Esports Streamers on Betting Trends
Esports streams are the central engines for attracting both the betting markets and the players to the online gaming space. But what makes them so important on the gaming spectrum? They are entertaining, increasing betting interest among betting species. Through creativity, personality, skilled analysis, and a wealth of experience, the streamers occupy the role of experts with sizable authority over betting patterns. Streamers are part of the bookmaking tale since they forecast matches, provide live commentary, and promote various platforms on their broadcasts.
There are a tonne of cases that showcase the influential powers of a streamer over the betting market. This underlines the rise of Valorant, a tactical shooter game, with more and more streamers jumping into it. Let us pinpoint some examples. If you are into gaming, you know the name Shroud. He is one of the trending streamers in the world of gaming. As Shroud pulled the popularity graph of the game upward, it created incredible hype in the betting space. More and more bettors got interested, and this resulted in a greater crowd turning towards Valorant-related betting sites. Another big example of a popular streamer is Ninja. The arrival of Ninja in the gaming sector unwrapped a new betting market. Ninja’s engagement and sponsorship of games like Fortnite drew considerable attention while also influencing the odds and number of bets put on matches.
Legality and regulation are two prominent components in this sector. It’s pretty evident that the gaming world is moving towards big possibilities, with streamers as the prime advertisers and betting platforms as the streams of popularity. However, as the market is rigorously growing, the need for regulations and responsible gaming is always knocking at the door. In this market where every individual is rushing in to make financial gains, maintaining a balance is essential. Liabilities and responsibilities fall on the shoulders of both the streamers and the betting platforms to promote responsible gaming.
The Role of Esports Streamers in Promoting Betting Platforms
No doubt, popular online game streamers have developed a gigantic reach, catering to millions of loyal game enthusiasts. People are simply crazy about their favorite streamers, and they often donate thousands to YouTube superchats and Twitch donations. So, with these streamers turning out to be public figures, they offer a super tempting opportunity for betting brands or platforms to tap into the market. With a view to leveraging the popularity of these eSports streamers and developing their brand presence, a bucket full of online betting platforms joined hands with them. These partnerships are a two-way stream. The brand brings monetary benefits to the streamers. On the other hand, the streamers promote the platform on their live stream or through their social media handles.
For esports betting companies, having esports streamers on board as partners is the perfect way to gain exposure to a highly focused community or their target audience. On the opposite side of the coin, streamers create a stream of income, more visibility, and the chance of a career jump through collaborations. However, this collaboration is not free from negatives. Things can go south for both the brand and the streamers. There are a bunch of risks associated with it, including bad audience responses, strict restrictions, and the potential harm caused by engaging in unethical behaviors and controversies.
With the growth of the industry, we got a glimpse of a tonne of successful collaborations benefiting both streamers and brands. For example, famous streamers like Ninja and Shroud leveraged their enormous fan followings to get A-rated sponsorship deals from betting giants.
Esports streamers as brand ambassadors
Brand ambassadors are the faces of a company. For an effective marketing campaign, every brand needs popular brand ambassadors. In the eSports gaming market, eSports streamers are the promoters and brand ambassadors of betting platforms. They are not just entertainers now. They have turned out to be influencers, making content and attracting a lot of crowds to popular games. Their wild reach allows them to collaborate with big brands.
Partnerships between streams and betting platforms offer reciprocal perks. In these deals, streamers come with the boon of extensive reach and committed audiences. Therefore, popular betting sites spend millions on these streamers, who connect them to their target audience. On the other hand, streamers get better revenue, an increased reputation, and the opportunity to advance to the next professional level.
However, as a coin has two sides, these collaborations come with significant risks. Streamers run the risk of losing their audience. By chance, if streamers grab deals with unpopular or less regulated brands without proper background checks, they may end up endorsing irresponsible gambling. This can damage their reputation and image. Meanwhile, the betting companies can suffer legal and reputational consequences if agreements are deemed unethical.
The Evolution of Esports Betting Markets
The evolution of the online eSports betting market has experienced a lot of ups and downs to rise to the apex of popularity and success. In 2019, the esports betting market touched a $1 billion mark in terms of revenue, and by 2024, the figures skyrocketed to $2.5 billion.
The rapid evolution of this market has provided a plethora of betting options. Today, you can choose from a long list of betting options that include outright betting, match betting, and specials. Curious about these betting styles? Let us make it clear. In outright betting, to win the big cash, you just need to predict and place your money on the winner of the tournaments. Match betting, on the other hand, allows you to bet on the results of specific matches within a tournament or league. We found specials to be the best, where you wager on specific in-game events or outcomes.
These three betting formats are just the tip of the iceberg. The most interesting and highest-rated betting option is in-play betting. In this type of betting, if you are closely watching the matches of any tournament or game, you can make real-time bets with this betting option. To support you in making accurate choices or decisions, the streamers. You can watch their live streams, where they offer live commentary and analysis during eSports events. They can deliver valuable insights that may help viewers make the right decisions.
With the eSports betting market turning bigger and bigger, it’s now under the radar of all the top regulatory bodies. They are working day and night to craft the most prominent rules and mechanisms to ensure responsible and fair gaming.
Challenges and Controversies
As you climb the ladder of success, there will always be a bunch of negative things pulling you down. The same goes for the eSports market. In the future, as the market grows, there will be a bucket full of controversies and complications. In any unregulated market, controversies are the sole companion. The esports betting sector is similarly facing a bunch of backslashes. One of the primary challenges that video game betting companies face is dealing with numerous regulatory frameworks and legal criteria. The eSports betting boom creates headaches for regulatory organizations throughout the world when it comes to creating rules and systems for monitoring and avoiding competition integrity violations.
Another major dispute within the esports community is the potential negative effect of streamers promoting betting. Streamers have an incredible capacity to influence their viewers’ opinions, but their promotion of betting platforms can raise a lot of questions. It raises several ethical concerns, generally connected to responsible gambling and the sensitivity of younger audiences to gambling-related content.
Accepting the reality that there is a need to promote responsible gambling and regulatory compliance, the esports betting sector has responded by taking active steps. To enhance the public’s understanding of harmful betting behaviors, operators and stakeholders are increasingly using age verification systems, responsible gambling technologies, and educational programs.
The Future of Esports Betting
Believe it or not, gaming is not a mode of entertainment now. It is turning out to be a highly competitive market with a pool of opportunities. With so much hype around this space, the eSports market’s future is super promising. In the upcoming days, more and more players as well as audiences will walk into the field, making way for new possibilities. This craze will bring new betting platforms to the scene. On top of that, the technology used on these platforms will undergo big changes. The blend of different components like AR, VR, and AI will bring a significant tweak to the world of eSports. Gaming will be 10x more fun and more accessible. Apart from that, the boon of blockchain is covering the sector. Smart contracts and blockchain bring security and transparency to betting platforms, thus promoting trust and integrity.
The future of eSports betting looks gigantic as the sector continues to develop rapidly throughout the world. With a forecast revenue of US$2.5 billion in 2024 and an annual growth rate of 7.27%, the global eSports market will reach a revenue of $3.3 billion by 2028, and that’s just the start; the market shows no signs of slowing.
As the number of live streamers grows, they will be the key components in shaping the future esports betting industry. Streamers will define the path of growth, and they will be the collaborators in the esports brand creation process, thanks to their loyal fanbase. Going forward, streamers will take more charge of promoting responsible gambling standards, fostering user relationships, and advocating for the creation and implementation of cutting-edge betting innovation trends.
Conclusion
Wrapping up, eSports streamers can be titled the torchbearers of the eSports industry. Moreover, with streamers pushing new trends, more and more audiences are stepping into the space. The rapid rise in popularity is also leading to the growth of eSports betting. So, considering their role in the gaming ecosystem, they are the new trendsetters.
As the future bell knocks, the links between streams and betting in e-sports will surely get more collaborative and innovative. As sports betting expands in the upcoming year, streaming networks will play a significantly greater role in encouraging responsible gambling and improving user experiences. Moreover, with time, the synergy between streamers and betting companies will make or break the future of eSports.
