In 2020, Wall Street saw some unexpected spikes in sports betting trends. Conservatives thought that as soon as people were able to in-person wagering again, they would stop wagering on eSports. This doesn’t seem to be the case. The sports betting revenues exceeded $3 billion last year, 50% greater than predicted.
Since there were no actual sports to bet on, eSports and virtual games were the most popular sports betting options. People thought that the popularity of these games would decrease as soon as the pandemic was over, but even since sports tournaments started off again, simulation esports like Madden and NBA2k have maintained their 35% increase. This is partly due to the fact that more countries have legalized sports betting, which means online betting is more accessible for people all over the world.
In the past, eSports bettors were young and immature and weren’t able to spend a lot of money on betting on eSports. By now, eSports has gained popularity among the mature online sports bettors. Therefore more bookmakers and other big internationals have started to invest money in eSports. These investments are among others getting media rights or team ownership. Also esports stadiums are getting more attention and are totally worth sponsoring. So don’t be surprised if bookmakers shift their focus regarding their sponsor money from big athletes to famous eSports players and teams.
