Esports Market Value To Reach $2.4b by 2020
To meet those totals, the industry does have some work to do.
Even in 2010, any game enthusiast who said their dream was to play video games for a living — or that it would be equated with the same industry value as sports as a spectator event — would have been met with ridicule.
Nearly a decade later, no one is laughing. Millions of people worldwide tune it to watch players battle it out in nearly every form of video game imaginable. That’s made these ‘eSports’ big business. And if a new report by European based statistical firm NewZoo is to be believed, the money to be made in this growing industry is just at the beginning of its potential.
The projection? $2.4b by 2020 — just two short years from now.
How To Make Esports A Powerhouse?
To meet those totals, the industry does have some work to do. The paper laid out some of the key areas as a suggest focus, including a more grassroots approach, innovative new gaming options, more structured leagues, and even more merchandising.
Another key aspect is the markets where growth occurs. Crucially, the North American and European masses — and their disposable incomes — need to get more on board with the concept. Europe itself currently produces 33% of all eSports market value, making it the most critical piece of the puzzle.
Gambling & Video Games Converge
There was no mention of what the growth in eSports would mean for the gambling industry. However, it doesn’t take a research paper to know that the opportunities are huge.
Canadians and other nations around the world have already embraced the idea of betting on sporting competitions online en masse. To those paying attention, eSports have already shown themselves to be just as popular with punters as athletic events. All that’s really left then from an adoption standpoint is for eSports to be come more popular. If that should happen, the gambling will come along for the ride.
The report’s lowest market projection for the industry in 2020 is just a shade over $1b. Even that’s not so shabby, and portends a huge new arena that will be increasingly conspicuous in the lives of Canadian sports betters in the not so distant future.