eSports are the result of a world that is continuing to expand and innovate in the online realm. A couple of decades ago, the idea of stadiums hosting games where players would play against each other on consoles for millions of dollars would have been unfathomable. As we move into the decade of the 2020s, these tournaments occur annually and for a host of console games, not just one specific type.

More established and traditional markets, such as sports betting, have always maintained popularity amongst gamblers. You can find the best sportsbook promotions online, and there are hundreds of markets you can potentially choose from and combine. However, when it comes to gambling on eSports, the markets are not as established, and you may find yourself shopping around for odds on the games you enjoy watching.

Despite the idea being initially snuffed at, it is no wonder that eSports has become such a huge industry. A generation has grown up playing console games, and millions of players are online at any given time. This is the case across all top consoles, be it PlayStation 5, XBOX or PC. The natural progression from this is that the best players in the world play together and show the skills they possess. Due to the huge numbers drawn to it, it is not a surprise to fans and analysts that the market has become as gigantic as it has.

Suppose there is a market for people to watch and gamble on eSports. In that case, bookmakers will continue to offer odds to add further excitement and drama to these games.

At the minute, you can bet on the biggest tournaments and who will come out on top. You can find markets for big tournaments such as Fortnite and NFL online. Some eSports teams generate more revenue than certain teams that actually compete in the NFL.

It is a surprise considering even up to a shorter time than a decade ago, the market for eSports was virtually non-existent. The idea of being able to place a wager on what is essentially an exhibition game on a virtual console wasn’t even thought of as an idea.

When we look back at the more traditional markets, such as sports betting, they have a market that has existed for over a hundred years. Usually, in any game where a competitive match is taking place, there is the likelihood that a betting market will emerge for it if it has enough interest. The key is that enough people watch it to generate this interest, leading to a betting market.

Online console gaming is still an emerging market in the grand scheme of things, especially compared to other industries. The amount of money now involved in eSports is a truly staggering sum, with some companies generating profits in the hundreds of millions of dollars.

With new consoles such as the PlayStation 5 turning online gaming into a faster and even more high-quality experience, the likelihood is that this market will continue to expand. Only a couple of generations of people, essentially anybody under the age of 35, grew up with console games. As the number of people who owned a console and played one in their youth continues to grow, you would expect these markets to continue to grow in unison.

As other technology companies have made advances, such as YouTube and Twitch, it has expanded the potential audience to a worldwide one instead of people watching it in a stadium. The LoL Worlds Cup final 3 years ago attracted an audience of four million spectators. Whilst it falls short of the 200+ million people worldwide who watch the Superbowl, it is still a staggering figure considering the market barely existed a decade ago.

Not only are millions tuning in, but there are also over one hundred college courses available on the topic of eSports.

So not only can you bet on eSports markets, it looks as though as we move further into the 2020s, the number of markets available will continue to grow. How far this market can go is anybody’s guess. Still, the exponential growth it has shown in the last 20 years looks like it isn’t going to disappear any time soon.

As it is a new and fairly unregulated market, as the market continues to expand, it will be crucial that regulators allow it the same freedoms that sports betting enjoys so that the market continues to flourish.