eSports industry looks for a spark in 2023
eSports is no more a fiction or a thing of imagination. The industry has come a long way for a boom in its books. Everything started with the first competition being held on October 19, 1972, when students chose to compete in Spacewar at the University of Stanford.
The industry and gamers have a wider scope now. Considering the fact that the Supreme Court has decriminalized gambling, every state in the US is on its own to decide if they wish to legalize one of the most historic entertainment events. Gambling has been present in the region while keeping all legal aspects in mind.
Several states now let residents gamble responsibly. This has also opened the door for the eSports betting industry. Brands, developers, and gamers deserve a great deal of credit for the success of the industry, which is supported by a contemporary, stable internet connection. YouTube and Twitch both contribute equally to the expansion of the eSports business.
Live streaming on the said platforms has taken the popularity of eSports to an unimaginable level. The industry is now worth billions of dollars.
As the popularity continues to develop and more players enter the market, one can anticipate that digital tournaments will become commonplace, much like the recently finished FIFA World Cup 2022.
The first notable eSports tournament was held in 2005, with a $1 million prize pool. It was organized across ten cities, and the final event happened in New York City with an MTV broadcast. The tournament, titled The Cyberathlete Professional League, featured Painkiller as the game of choice.
Many more competitions have been organized since 2005 for higher prize money. Sponsors are jumping in to tap the potential branding opportunity.
Viewers log in to see their favorite gamers display some fantastic moves, thereby also creating space for brands to promote their content. As a matter of fact, gamers have been known to decide which game does wonder in the market and which falls behind the others.
Teams have also realized the growth potential of the industry. Many of them now feature teams in eSports leagues. For instance, Barcelona has its teams competing in the eSports Football League, Fortnite, and Rocket League, among others, on some of the top eSports betting sites. Professionals representing Barcelona are even paid handsomely, an amount that would have been unimaginable three decades ago.
eSports stars are gradually gaining the status of idols on par with athletes who play on the field. On a lighter note, earning money while playing video games is becoming popular.
Investors are entering the eSports market to capitalize on the large audience it attracts. Frequently, millions of fans watch a single live stream. Although young people are recognized as the core audience, the content’s vast popularity suggests that older individuals also appreciate it.