The rise of esports is showing no sign of stopping. Pretty much all sports betting brands offer esports markets, and those markets are becoming more and more extensive.
But can esports ever reach the popularity levels of traditional sports when it comes to online gambling and office pool sweepstakes? Let’s look at the case for and against that happening:
The case for esports betting competing with traditional sports
A young audience
The majority of esports betting enthusiasts (around 74%) fall in the 18-34 age group. This means the future of the sector looks to be secure. Not only are the existing players likely to continue betting on esports, but there is an excellent chance that many more new esports gamblers will enter the market.
Esports v major sports
Regardless of which statistical parameter you look at, the growth of esports cannot be denied. One of the most notable statistics concerns esports viewership. In 2020, over 70 million people watched an esports final. This is a figure that surpasses the viewership of ML, NBA and NHL finals, with only the NFL reaching a larger audience. With so many eyes on esports, it stands to reason that a large number of those viewers will want to place bets.
Simplicity
Compared to placing wagers on many other sports, esports betting is relatively straightforward. Yes, there are plenty of markets to choose from, but the volume pales when compared to the hundred plus markets you find attached to NBA, NHL or NFL fixtures. This makes esports betting extremely appealing to casual betting fans.
Volume of events
Whilst most sports are seasonal, esports events take place all year round. So if you are a fan of betting on esports, there will always be options available to you. This year round availability also holds appeal for casual sports betting fans, who are looking to place bets even when their favorite sports are not in season.
The case against esports betting competing with traditional sports
Unpredictability
All sports betting is unpredictable — favorites are often beaten and there are a host of variable factors (form, injuries, weather, luck etc) that can impact markets. In esports, the unpredictability is especially high. As such, oddsmakers are reluctant to provide attractive odds on esports markets, as there is a strong chance of an unlikely outcome.
Lack of coverage
To make life even harder for esports betting fans, it can be difficult to find detailed previews and analysis of events. Look at a list of sweepstakes casinos or visit any reputable sports site, and you will find a huge array of expert predictions and game previews covering popular sports. However, finding these types of articles for esports competitions can be tricky. Esports are yet to garner the same media coverage as the likes of the MLB or the NFL. This means esports betting fans have fewer tools at their disposal when trying to find winning wagers.
Lack of variety
Moneylines, props, totals, futures, spreads, over/unders and so on, the list of potential sports betting markets is virtually endless. And whilst sports betting sites do provide an array of markets for esports, the number of exotic markets is far fewer than for traditional sports. This can be off-putting for expert gamblers who like to dive deep into the markets and look for preferential value.
Conclusion
It is clear that esports betting is already competing with traditional sports betting. Indeed, it has overtaken many traditional sports in terms of betting popularity. However, given the lack of coverage it receives, the limited markets and the lack of a live audience, it is hard to see esports betting reaching the popularity of the NFL, soccer, or horse racing.
