Since 2018, the esports betting market has grown and become a great option for extra income in the entertainment field, which unfortunately was stopped a bit by the coronavirus crisis in the beginning for this year for an undetermined amount of time.
The company “Intelligence Economy”, sees this market as a short-term alternative, which operates millions of dollars worldwide. These amounts, however, may increase when things start to recover from this year’s worldwide virus outbreak.
Esports gambling continues to grow extraordinarily all over the world and, in 2019, it generated $1,100 million, according to the international economist Gustavo Velez.
Esports betting marketing in video games in 2019 grew internationally, with more than 453 million users in 2019, a 15% growth compared to 2018. It is highly likely that, until the end of 2020, these statistics will continue to grow. Considering the circumstances created by the effects of Covid-19 and the global lockdown on the world economy, it will be needed to find ways to innovate in this sector and stimulate the world economy.
According to the digital platform Twitch, the number of game streamers increased 31% in March 2020, due to the quarantine and the restrictions that there implemented to the society in most countries due to the Covid-19.
The sports betting market is not something new. It has been around in countries such as the United Kingdom since 1961. There are a lot of countries that have legalized it. At the moment, there is an obstacle, which is the world economy that at the moment does not provide a strong purchase power as it used to before due to the current crisis, however, there are other fields that provide good economic resources at the moment, according to Gustavo Velez.
Countries such as Malta could become world leaders in the regulated sports and esports betting industry if it takes advantage of the economic situation at the moment. As an industry that is in constant growth, there are certain conditions and development strategies that can work as an alternative, however, normalizing may take months.
There will be several changes in the sports betting world and entertainment in general after Covid-19, including the tourism market, casinos, and other types of entertainment. Online esports betting can and will replace even more the traditional ways of placing bets.
More and more companies are going to look for ways to implement their platforms to fully migrate the local business to the online platforms in order to make it possible for people in hotels and at their homes to access Sports Betting and Casino Betting at the comfort of their homes without having to leave their house.
The legalization of online esports gambling and online digital platforms comes with opportunities, not only for new ways of extra income, but it also turns into an industry that won’t be affected by social distancing.