BetB2B: Betting on esport – the formation of the industry

Betting on Esport

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In a sense, the industry began to move towards esports almost with the advent of the first two-player games. Already in Tennis for Two, developed back in 1958, players in the simplest form could throw a pixelated ball at each other.

“By 2023, esport has evolved into a large industry. Investors from all over the world have turned their attention to the billion-dollar industry,” notes BetB2B. Esports’ audience is more than 474 million people worldwide and is expected to exceed 577 million by 2024.

BetB2B: Esport – from the first games to a billion-dollar industry

In 1972, Stanford University hosted a historic moment – the first esports tournament – though they didn’t really know it at the time. As part of this event, 24 participants from different educational institutions took part in the “intergalactic Olympiad”, where the main game was Spacewar. Participants fought in spaceships, trying to defeat their opponents. For winning the tournament, an unusual prize was offered – an annual subscription to Rolling Stone magazine. This event became a kind of crowning achievement of the efforts of engineers and IT specialists who, in the 1960s and 70s, actively worked to create increasingly advanced computer systems. It was through their technological innovations that students were able to bring the concept of video game competition to life.

In 1980, the world saw its first large-scale video game tournament on the Atari platform with the game Space Invaders. This tournament had an eventual impact on the formation and development of esports. In addition, in 1990, another important historical stage for esport took place – the Nintendo World Gaming Championship. The winner of the tournament received not only 10 thousand dollars, but also a car, a 40-inch TV and a gold cup, as experts from BetB2B note.

In the 1990s, Nintendo actively supported the development of esports by organising large-scale international tournaments. In 1990, the Nintendo World Championships launched, bringing together players from North America, Europe and Australia. The competition took place in 29 American cities, dividing participants into three age categories. The final of the tournament took place at Universal Studios Hollywood, located in California. Participants had to score the maximum number of points in three games: Super Mario Bros., Rad Racer and Tetris.

Continuing the tradition, the Nintendo Campus Challenge was organized in 1991 and culminated with a grand finale at Disneyland. And finally, in 1994, the world saw Nintendo PowerFest, which continued the line of major esports events from the Japanese company.

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The first esport league and recognition of the International Olympic Committee – BetB2B

By the end of the 90s, the first esports leagues began to appear. The most famous of them, Cyberathlete Professional League, was founded in 1997 in the USA. Just a year after its founding, the league organised a tournament with a prize of $15,000, and over the ten years of its existence, it gave away more than three million dollars in prizes.

Today, esports is winning the hearts of millions of fans all over the planet. Online broadcasts of matches in real time are available on the Twitch and YouTube platforms, as well as on traditional TV channels. Spectators not only follow the progress of the game, but also listen to expert commentary, and also get acquainted with the life of the players outside the competition.

Another step in the history of esports was its recognition at the Olympic Games level. In 2017, the International Olympic Committee gave recognition, saying esports could be considered a sport. Currently, active work is underway to integrate video games into the Olympics program.

The rise in popularity of video games points to a bright future for esports. This phenomenon not only attracts the attention of young people, but has also, up until recent years, been a magnet for investment. Gaming industry giants have invested in esports, organising large-scale tournaments and licensing their hits for professional championships.

Recently, interactive games such as PUBG, Apex Legends and Call of Duty Mobile have been gaining popularity, attracting millions of users and viewers. The BetB2b platform’s portfolio consists of bets on what it claims are minigames based on popular videogames like Dota2, CS:GO, Warcraft III, Call of Duty, FIFA, Mortal Kombat, esports football, table tennis and billiards, among others.

According to analysts at Emergen Research, total revenue from the esports industry is expected to reach $5.1 billion by 2028. During the pandemic, the esports betting industry showed growth of 170%. This increase was partly due to the cancellation of many large-scale sporting events and people being stuck indoors wanting to be entertained. This has prompted numerous bookmakers to start offering bets on esport.

BetB2B experts said that the esports betting market is poised for significant growth, with projected revenue expected to reach US$2.34 billion by 2023. Moreover, the market is anticipated to continue expanding at an annual growth rate of 8.05% (CAGR 2023-2027) , resulting in a projected market volume of US$3.19 billion by 2027. These projections underscore the immense potential and abundant opportunities within the esports betting industry.

BetB2B: Esport audience and interest in betting

Esports, initially regarded as a leisure activity for the younger generation, is now attracting a wider audience. Among active participants, 4% are women, while among viewers their share reaches 30%, or more in some cases. In the context of a male-dominated industry, this level of female participation shows esports is diverse.

“Based on our research, the share of women betting on esports may soon reach 15%,” comment BetB2B experts. “Our data also indicates that the bulk of the audience betting on esports is in the 23-25 ​​age category, but representatives of different age groups are showing interest in this area. A significant portion of the audience resides in the Asia-Pacific region.”

Popular esport games that allow players to participate in gaming competitions today include:

●  Action/fighting games such as Mortal Kombat, Super Smash Bros, Street Fighter V and Brawlhalla.

●  Multiplayer online battle arenas (MOBAs) such as League of Legends and Dota 2

●  First person shooters (FPS) such as CS:GO / CS2, Call of Duty and Apex Legends

●  Sports-related games such as FIFA / EA FC, Rocket League and Madden

●  Other games, such as card games and real-time strategy games

Dota 2, League of Legends and CS:GO (now CS2) are the most popular games in esports. BetB2B points to a noticeable increase in active League of Legends bettors over the past year. It is also worth noting that in general, the passion for smaller competitive games like Age of Empires has increased among players since its last successful release.

Top most anticipated esports events of 2023-2024

Many of the events of 2023 have already passed. However, there are interesting tournaments announced for the end of the year and for the beginning of 2024, which will attract a large audience of people who like cybersports and betting on esport.

●  The International 12 is the largest Dota 2 tournament of the year. Dates: October 12-29, 2023. 20 teams are taking part in the tournament.

●  The World Championship 2023 (aka Worlds) is the thirteenth in a series of final League of Legends tournaments of the year. The tournament’s play-ins start date was October 10th in Seoul, South Korea, and it’s currently ongoing

●  The PUBG Global Championship, the grand finale of 2023 PUBG Esports, will be heading for Thailand. The tournament starts on November 18th, 2023. The prize fund is $2 million.

●  Hearthstone tournament World Championship 2023 prize pool $350,000. It starts on December 14th 2023.

●  DreamHack Valencia 2023 – December edition

●  Dreamhack Winter 2023

●  The APAC Predator League 2024 has been unveiled, featuring the popular games Valorant and Dota 2. With a prize pool of US$400,000, the LAN Finals will take place at the Mall of Asia Arena in Manila, Philippines, on January 13-14, 2024.

●  Valorant Champions 2024

●  There are many more, including the newly announced Esports World Cup, Rocket League Majors, Counter-Strike Majors and Intel Extreme Masters tournaments, EA FC World Championship and many more

The success of these games indicates the dynamic development of the esports industry and great opportunities for the future. If you are an operator looking to expand your Sportbook, consider integrating esports betting. BetB2B offers this service, providing access to 250+ betting markets, over 60 esports games and matches, and 9,500 pre-match and live events.

Esports offers players a wide range of opportunities. The growing interest of young people in esport and the desire to place bets make it an integral part of modern web resources and mobile applications. The segment is attracting an increasingly wider audience, especially due to the global popularity of major tournaments.

BetB2B offers comprehensive solutions: from a full sportsbook to multimodal support and in-depth analysis of various markets. Its selection of games in esport includes popular titles such as Call of Duty, CS:GO, as well as various card games including Pokemon and Hearthstone, among others.

By turning to BetB2B services, you will allegedly have the opportunity to work with a team of experts ready to provide in-depth industry knowledge, customised solutions and professional advice, giving you a competitive advantage in the market, according to the company.

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