- A question still remains whether to invest in the esports sector depends on the level of demand for the product in the market.
- People who never expected this enormous growth of esports and who never considered esports as a means of the profitable business sector have changed their minds and have started to invest in it as they learned more about its potential.
- Esports can also be a medium to lead other sectors in the entertainment industry as every unique sector should be understood and utilized correctly in order to get to the next level.
Esports is one of the most profitable sectors in the entertainment sector as Newzoo, a marketing intelligence firm, reported that the revenue of the industry soars past €930 million by the end of 2020. The esports industry is transforming itself to take up a new shape and continue to progress on the path set to maximize the potential of the industry.
A wide array of stakeholders have started to enter the esports industry with their own platform to take advantage of the industry’s unexplored potential. They are getting into various sectors of the industry, such as esports betting and streaming services, to engage their users and increase their revenue.
The perspective of a major brand in the industry:
SBC news agency recently spoke to Betinvest’s COO Max Dubossarsky on the reasons why bookmakers need to commit to esports solutions and to gauge the importance of the esports sector to the betting industry. He further added that they could not ignore the sector as it is one of the fastest-growing and profitable areas in the industry. They have expanded their product line to include an esportsbook for the users. The ebook will be regularly updated with events and markets, they have hired some of the best minds with a strong background in the industry as dedicated sports enthusiasts.
He further adds that their company has multiple teams who are well versed in every aspect that the esports sector demands and this strategy seem to be working as they can understand the needs of the audience in a much better way as they could fill up the gaps that existed when the industry was initially started.
However, a question still remains whether to invest in the esports sector depends on the level of demand for the product in the market. Esports has the potential to adapt the bookmaker’s practices to match that of the current generation integrated with technologies in a similar situation. To answer that question, they have introduced esportsbooks, which will be helpful to increase the offerings of a bookmaker as more betting options will be available to the users. As esports betting is developing into a competitive market, this can be helpful as a tool to drive audience engagement to the platform.
How esports betting fits into this modern world:
The COO of Betivest further added that they conducted more surveys among various groups of people from which they concluded that people prefer esports and esports betting software more when compared to traditional sports betting and gambling. People who never expected this enormous growth of esports and who never considered esports as a means of the profitable business sector have changed their minds and have started to invest in it as they learned more about its potential. They further mentioned the demands of such platforms that offer the advantage over a traditional platform and the platforms that offer esportsbooks for the users. People seem to have understood the full potential of the esportsbooks as it provides more opportunities for them to place their bets efficiently and to increase their overall revenue.
The viability of esports betting is the result of the generational difference among the audiences. They have reinvented the wheel as they did not choose to be a player in their local team of traditional sports such as football, rugby, ice hockey, etc. But instead, they took the other path and are popularly known as the millennials or the ‘zoomers.’ Even though esports is a new concept to the older generation, the entrepreneurs in esports sector have borrowed the gambling ideas from the traditional sports industry to establish esports betting, to offer the same excitement and experience felt by the older generation people to the millennials.
Dubossarsky has been to several live sporting events and to huge arenas over the years, so he decided to offer the same experience to this generation by introducing esports betting on their platform. During his interview, he did not support the fact that millennials should not opt for physical sports. However, he pressed on the fact that this generation of kids grows up around gadgets and internet-enabled devices, so video games and digital technology can join hands together to offer the same benefits and excitement for this generation.
Esports as a medium:
Esports can also be a medium to lead other sectors in the entertainment industry as every unique sector should be understood and utilized correctly in order to get to the next level. If the betting providers and operators are provided with the right means to collect the necessary information, then it can be used to learn more about the customer’s preferences and to improve the business in accordance with the tendency of the market.
A professional esports betting app development team can build quality solutions that can be operated on various devices and offer the users a fun-filled and exciting experience. These applications should be integrated with convenient payment methods for the users to avoid any risks and to keep up with the competition.