- Optimism for the future of betting on esports is very high
- In survey filled out by thirty-one respondents representing small endemic sites (esports-first or esports-only) to the largest non-endemic global operators (mainstream betting operators that also offer esports), 100% of the respondents indicated a belief that the esports handle will grow in 2018;
- 82% hypothesize that the sophistication of esports wagering will catch up to traditional sports within two years.
Darren Heitner , Contributor
Betting operators are excited about the potential for growth surrounding wagers on PlayUnknown’s Battlegrounds (PUBG) matches. (Photo by VCG/VCG via Getty Images)
Optimism for the future of betting on esports is very high. In a survey filled out by thirty-one respondents representing small endemic sites (esports-first or esports-only) to the largest non-endemic global operators (mainstream betting operators that also offer esports), 100% of the respondents indicated a belief that the esports handle will grow in 2018, and 82% hypothesize that the sophistication of esports wagering will catch up to traditional sports within two years.
The survey was conducted by Eilers & Krejcik Gaming and reported in its Esports & Gambling Monitor for 1Q 2018.
The vast majority of respondents also indicated that esports betting activity has increased from the prior quarter, with no respondents revealing a decrease in handle.
The biggest factor believed to be spurring an increase in betting is the growth of existing major events, followed by the introduction of new leagues like The Overwatch League, which is a global esports league with city-based teams that is based on the Blizzard Entertainment game Overwatch. Players in the league receive a $50,000 minimum base salary, healthcare and retirements savings plans and housing.
Traditional professional sports also continue to cross over into esports, whether it be the NBA’s 2K League or MLS’ deal with EA Sports to launch eMLS, and that type of expansion is believed to at least play a role in continuing to improve the esports industry’s bottom line and additionally increase interest in betting.
Additionally, the respondents also revealed that the average spend per esports bettor is either increasing or staying the same, with no respondent answering that the amount of betting is on the decline.
The titles with the most betting volume are the traditionally mentioned games such as Counter-Strike: Global Offensive and League of Legends, but there is clear optimism surrounding one particular up-and-comer: PlayerUnknown’s Battlegrounds (PUBG). That game was one of the most watched on Twitch for the second half of 2017 and is the main reason why 64% of respondents believe Battle Royale-style games can drive substantial wagering activity.
Yet, an unfortunate data point for esports betting growth is that the results were mixed when it comes to the value that operators place on an esports bettor as compared to a traditional sports bettor. While one-third of the respondents indicated a belief that an esports bettor is more valuable than a traditional sports bettor in terms of lifetime value, a big jump from the mere 5% who indicated same the previous quarter, over 60% of respondents said that the esports bettor will provide less value to the operators’ bottom-line over the span of many years.
Darren Heitner is the Founder of South Florida-based HEITNER LEGAL, P.L.L.C. and Sports Agent Blog. He authored the book, How to Play the Game: What Every Sports Attorney Needs to Know.
Source: https://www.forbes.com/sites/darrenheitner/2018/02/12/everyone-is-betting-on-growth-of-esports-wagering-in-2018/#c4c7cb045820
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