The Influence of COVID-19 on Esports Betting

Back in March 2020, the corona virus disease swept through Europe and many other parts of the world, forcing governments and health care providers to enforce temporary business closures and stay at home orders. During the same month, high online gaming activities were reported in four states in the US namely Nevada, New Jersey, Pennsylvania, and Delaware.

Nevada, the nation’s online gambling hub reported an increase of ninety percent during the same month. Before the virus struck, the online gambling sector has been growing rapidly. Back in 2017, the global online gambling market was valued at around $46 billion. In five years, the market is expected to grow to $95 billion. The estimated annual growth for the online gambling market is 11.5 percent.

The catalyst

The US sports betting industry has always been mysterious in a way because of the lack of oversight and regulation. However, in the last few years, this has started changing. Back in May 2018, Delaware was the first state in the US to legalize sports betting following a victory at the Supreme Court. The win set an example for any other state that wanted to legalize sports betting.

Since then, other states have been doing their best to follow suit. More than 18 states have legalized sports betting. And five more have passed bills that will allow them to do so. In the time being, Congress has been contemplating the legislation of sports betting at the state level. Although major legislations have not been enacted yet, there have been rumors.

Back in 2018, Congress met for the first time in a decade to talk about sports betting. If passed, this bill will be a major milestone in the sports betting industry. By 2025, experts report that sports betting will be worth seven to eight billion dollars.

The online betting industry is growing so fast that big giants like Sin City are following suit. Despite some limitations due to the COVID-19 pandemic, there have been new casino offers on Gamblizard site. Online betting companies are looking forward to expanding their footprint thanks to technological advancements. More states in the US will legalize sports betting as we progress forward.

Esports – the elephant in the room

If this is the first time you are hearing about esports, don’t fret. Let’s catch up: Think of esports as an umbrella term for the growing video gaming industry. It involves professional gamers playing against each other, fans watching online, and placing real money bets and advertising brands. Although it started as a niche, it has evolved into a billion-dollar niche in the last few years.

Sports companies like the NBA and legends like Michael Jordan have partnered and endorsed major sports networks like ESPN thus increasing its exposure. In 2019, the total esports viewership was reported to be 454 million. And this is expected to grow at an annual rate of 9 percent thus hitting more than 600 million in 2023. The industry has experienced major growth thanks to investments.

Betting on esports is quite a big deal today. This new form of betting started slowly and gained momentum in the last few years. The growth rate has been so high in the last few months thanks to the pandemic. And it’s expected to get better after the pandemic. Most people don’t have an idea of what esports is all about.

However, it’s one of the most interesting things that players can indulge in. Most casual gamers play for fun. They participate in online tournaments and play contests. Although they are considered informal, they are still technically esports in the professional world. If you are a gamer, you’ve probably realized how competitive casual gaming can become. However, professional esports is on another new level.

Conclusion

To win real money, you have to know how to bet on esports. There are a lot of things that you need to know to beat the dealers and make a profit. You have to be patient and willing to put in time and energy. If you are up to the challenge, there’s nothing that can stop you from achieving your goals. If you are betting on esports just for fun, there’s nothing wrong about it.

You have to know your odds, do your research, and calculate payouts to increase your chances of winning. Before you start playing for real money, create a budget, and set limits to avoid wasting your hard-earned cash and precious time in the long run. 

Author Bio:

Leslie has been writing since she can remember. Former professional editor. She is a content lead at Gamblizard at the moment. She knows how to make words shine. She is the one responsible for writing the most important articles and coordinating our freelance content writers. She is the one writing this text right now.