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#Esports & Gaming Industry on a Tear – SPONSOR: Esports Entertainment Group $GMBL $DKNG $PENN $GAN $ESPO $AESE $ $ $

Posted by AGORACOM-JC at 6:00 PM on Monday, June 22nd, 2020

SPONSOR: Esports Entertainment Group (GMBL:NASDAQ) – Millions of people from around the world tune in to watch teams of video game players compete with each other. In first quarter 2020, YouTube reported 1.1 billion hours watched, an increase of 13% when compared to fourth quarter 2019. Wagering on Esports is projected to hit $23 BILLION this year although that number will likely be eclipsed due to the recent pandemic. Esports Entertainment Group is the next generation online gambling company designed for the purpose of facilitating as much of this wagering as possible.  LEARN MORE.

Esports & Gaming Industry on a Tear

  • The esports industry is on a tear as very few ways of entertainment are as popular as video games.
  • “The video game industry is disrupting traditional media and entertainment,” according to VanEck. 
  • The world’s 2.7 billion gamers will shell out $159.3 billion on games in 2020, if we go by a forecast by market researcher Newzoo. This marks about 9% year-over-year growth.

By: Sanghamitra Saha

Newzoo also expects gaming revenues of $200.8 billion by 2023 at a compound annual growth rate of 8.3%. The coronavirus pandemic and the resultant stay-at-home trend made it more lucrative for the video gaming industry. The pandemic has caused the cancellation of all sporting events and consumers are indulging in video games or online watching of esports.

Notably,esports refers to competitive video gaming that is watched by spectators like sporting events. Approximately 400-500 million people watch esports globally (read: Will Esports and Video Gaming Benefit from Coronavirus Shutdown?).

Despite no breakout new releases, the month of May saw U.S. spending on hardware, full game sales and accessories touching $977 million, according to industry-tracking firm NPD Group.  The figure was 52% higher when compared to a year ago. This was the highest tracked outlays for a May month since the $1.2 billion achieved in May 2008.

Total video game sales so far this year are up about 18% year over year to $5.48 billion. Revenues from video game hardware gained 34% year over year while software sales rose 13% year over year. Video game accessories and game cards added 12% year over year.

Apart from this, there is a big market for sports betting. As of 2018, sports betting made up approximately 18% of the $449 billion global gaming market, as measured by gross gaming revenues, or “GGR.” Goldman Sachs expects the online sports betting market to increase 7.1% per annum from 2018 to 2022.

Regulated sports betting is currently legal in several European countries, Australia and Mexico. In the United States, legalization is enacted at the state level. On a country level, Brazil and India are moving toward likely regulation.


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