As many companies have sought to find alternative events to keep their players entertained throughout the last 12 months, Stanislav Mykhailov, Head of B2B Department at BetInvest, highlights the reasons why esports can offer a welcome boost for betting and gaming companies in a post-pandemic landscape.
The COVID-19 pandemic has had a huge impact on the world as we know it, hitting the gambling industry particularly hard.
A decline in traditional sports betting markets and the closure of physical casinos have forced operators to find alternative ways of generating revenue. Gambling service providers now have to be bolder in their decision making and come up with innovative solutions.
As competitive video games continue to become ingrained in popular culture, global investors, brands, media outlets and consumers are all keeping their fingers on the pulse. According to Business Insider, total esports viewership is expected to grow at a compound annual growth rate (CAGR) of 9% between 2019 and 2023, up from 454 million in 2019 to 646 million in 2023.
Previously hiding in the background of many major sportsbooks, esports is now coming to the fore and being treated as a vaccine for the lack of wagering markets on traditional sports.
Despite being fairly sensitive to live event cancellations, the esports agenda has remained relatively unchanged. Most cybersports tournaments and leagues have made the switch to the new online format seamlessly. With plenty of upcoming events, gambling service providers are currently seeing strong demand for esports content – at Betinvest, content services now add 42% on top of the turnover from its traditional offering, and this trend is expected to continue.
We now provide over 30,000 live events across 22 esports with new disciplines and betting markets being added constantly. Betinvest’s API-integrated widget, along with the easy-to-use CMS, allow sports betting operators to set up an esports tab in no time, while the ever-reliable Data Feed provides real-time coverage of all leading titles and tournaments.
Of course, the most popular cybersports disciplines may be difficult for the uninitiated to understand. While, according to Narus Advisors and Eilers & Krejcik Gaming, the multiplayer online battle arena video games League of Legends and Dota 2 made up a total of 56% of the esports betting share – but for those new to esports, more attractive betting opportunities can be found in other, less popular titles.
Betinvest has seen incredible growth in sports simulators in the past few months. The reason behind this is the brilliant crossover appeal for fans of traditional sports. The betting markets and formats offered are the same as in real-life sports, which makes them more understandable for more traditional bettors.
Moreover, customers can bet more frequently, as FIFA matches, for example, only take between 8-10 minutes while a real football match lasts at least 90 minutes.
For the most part, esports owes its success to the unique social component of live streaming and gaming. Gaming-specific streaming platforms like Twitch and YouTube Gaming give fans a direct connection to the players and teams, while more mainstream social media have allowed those connections to expand further and grow stronger. Therefore, delivering high-quality broadcasts is incredibly important in order to keep audience engagement rates as high as possible.
After researching all the latest trends, Betinvest has partnered with two professional cybersports leagues, whose players compete in the most popular cybersports simulators (eFootball, eBasketball, World Basketball and eHockey).
We now hold exclusive broadcasting and trading distribution rights for up to 15 000 live events monthly. Our esports services go far beyond the conventional, providing RTMP-streams, full streaming on Twitch or any other platform, games records saved to dedicated channels, a reliable Data Feed (both Pre-match and Live odds alongside with outcomes), fast Data Delivery, self-adjusting margins and much more.
Betinvest sees that when esports betting solutions are done right, they are an excellent driver for the esports market as a whole. Within a fast-changing industry, the best way to predict the future is to create it!