There is little doubt that eSports is gaining an increasing level of acceptance as a sport as time goes on. There have been little signals everywhere, from the building of specific eSports arenas to host major competitions, to the potential future inclusion of gaming as an Olympic event. Among the other demonstrations of eSports being taken more seriously is their inclusion as a betting market by leading sportsbooks, including at this popular non Gamstop betting resource. Though it may seem a tangential consideration, there is no doubt that the interest of betting companies represents a step forward for any growing sport.
In 2023, betting is going to continue to draw a lot of media attention. Its reach is spreading, most specifically in the United States where more and more jurisdictions are passing legislation to make sports betting legal. That makes it a market with a lot of speculation and, inevitably, some of that speculation is going to extend to eSports betting. So it is worth taking some time, as we ease into the second month of the year, to see what the rest of 2023 may hold for eSports as a betting market.
More states to permit eSports betting
It’s tricky to evaluate the position of eSports among the legislation being passed in America, particularly because different states will have different wording on the bills and laws that they embrace in legalizing sports betting. In some cases, eSports betting is included implicitly by the way the law is written. In other cases, it is explicitly included: while Missouri is still waiting on a final decision to push forward with betting, the legislation being discussed specifically mentions eSports. This may well be the case more often going forward. Pennsylvania, which already permits “normal” sports betting, is also considering adding eSports to its existing law.
The market may be depressed this year
There is a global crisis of cost of living which may well go on for longer than any of us would wish. Lagging effects from the pandemic, the war in Ukraine, and rising fuel costs are just a few of the factors causing belts to be tightened globally. This may well see impacts in the world of corporate sponsorship, and a “last in, first out” policy may mean that newly popular industries like eSports bear the brunt of cost-cutting. Lower sponsorship takes may mean lower budgets for events, and less recognition in betting markets, which may mean fewer opportunities to bet on eSports.
Japan to move closer to Korea and China in revenue
It doesn’t take a lot of study to know that the highest-achieving nations in competitive eSports are China and South Korea, both of whom are regularly represented in the top international eSports tournaments. This has translated into significant betting revenue in those countries, with Japan having been left behind somewhat in recent years. However, there is likely to be a rise in awareness of fighting games – not least with the release of Street Fighter VI – which will see more betting on this form of game. In Japan, beat-em-ups are big news, which is going to mean more attention in that area from betting companies.
I'm a published author and proud US Army veteran who happens to be a gamer, so I decided to combine the two and love every minute of it! Feel free to contact me with any questions or comments and I'll be sure to get back to you.
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