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Betting provider LeoVegas has ventured into a new vertical with the roll-out of an-all new esports gambling website in Sweden: pixel.bet.
The site has launched in a bid to explore the esports betting market. It has secured a five-year license from Spelinspektionen, Sweden’s gambling regulator.
LeoVegas has taken an interest in expanding its hold on the esports gambling market after securing a significant stake in the parent company of pixel.bet, Pixel Holding Group Ltd.
In 2018, the transaction had been finalised and LeoVegas had made a payment of €1.5m for the operation of sports betting.
Eirik Kristiansen, the CEO of Pixel Digital, said the entry of Pixel Bay into the liberal Swedish Gambling Market and getting a license in Sweden showcases how this positions the business for ongoing internal expansion.
It also plans to offer live casino and casino games just as NetEnt casino does in UK casinos. NetEnt casino has also introduced a new feature in their recent update to attract more customers.
It is offering 10 euros no deposit bonuses to the players to provide them with an exciting gaming experience. Pixel is presently going to focus on Nordics and Sweden. However, the owners strongly believe that it has the perspective to grow more internationally.
Gustaf Hagman, the CEO of LeoVegas, said the company is going to focus on robust growth while remaining cost-efficient.
Sweden is a bit of a force in esports too – it has several professional players and spends big on esports.
The country is known to have one of the most dedicated audiences when it comes to esports as many Swedes watch competitive gaming, buy merchandise and tickets. As per an early survey which had been compiled in 2018 by PayPal, along with Superdata, Sweden apparently has the second biggest esports market in Europe, second only to Russia.
This study had been based on the data of viewership from YouTube and Twitch.
The market volume of Sweden was SEK254 million when the report was released. This market volume is based on the number of consumers purchasing esports merchandise and tickets.
It’s expected that Swedish esports is going to reach its peak this year and will grow by 14% – twice the growth rate of the global market – to be worth some SEK350 million.
One of the reasons why esports has become popular in Sweden is that it has a robust gaming culture and has developed a quality environment for players to gain experience and hone their skills.
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