Research agencies claim Esports revenues estimated to rise $14 billion due to Covid-19
The Global Consumer Research Agency 2CV and the Market Researcher ProdegeMR estimated Esports 2020 gambling revenue to grow to a massive $14 billion; double 2019’s figure of $7 billion.
Esports has uncapped upside and is one of the least restricted by the video game publisher. Ironically, it used to be one of the least talked about in the year 2019.
Due to the Covid-19 crisis, gamblers are now seeking new alternatives for betting as legal sporting events have shutdown. Esports is definitely benefiting from the situation. This type of sports offers league matches that can be played remotely, making Esports the rising star in the iGaming industry.
2CV and ProdegeMR's survey of 1,028 gamblers aged 18-64 showed that 59% of gamblers have reduced spend on gambling, with 32% having actively looked for new things to bet on and 24% shifted their focus to other forms of betting. 22% of gamblers who have not previously tried Esports betting will consider doing so within the next 3 months, and 62% of respondents said they needed more information on the sector.
The research director in technology and entertainment at 2CV, Martin Bradley, said: “By 2022, the number of esports viewers is estimated to rise to 644 million worldwide, this is up from 454 million viewers in 2019. The Covid-19 pandemic has led to many forms of sports associated with gambling being cancelled or postponed but is also a big opportunity for esports to get in front of this audience.
“Short-term growth is likely to come from sport-based games, but there are huge opportunities to make this more long-term, as long as consumers are educated properly on Esports and what it can offer, as well as considering which kinds of events are best suited to a particular audience.” Bradley added.
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