Global companies are struggling with the COVID-19 pandemic, which we are all dealing with. The virus has affected all types of processes. One of the highlights of the situation is the cancellation of all major sports leagues, be it the NBA, NHL or MLB. But in the face of all these events, a kind of entertainment continues through all this chaos, the sport.
Betting betting sites made over $ 500 million in 2019 and will make up to three times as much in 2023, reports several Esport betting sites and Newzoo case studies.
We first saw it in China. Although the LPL, China's regional League of Legends competition, was interrupted in early January, it switched to online mode very quickly, allowing the competition to continue without the risks involved. In a way, the sport returns a bit to its roots, where online tournaments were the be-all and end-all of the competition. And not only that the sport continues to work, at the moment they are stronger than ever.
With many people sitting at home, sporting events continue to be one of the regular things that can still be seen. More importantly, esports viewers, who are mostly at home, are very used to seeing events on Twitch or Youtube. This is not a big change for them. If we look at Europe, we see that the LEC League of Legends has been stopped briefly to prepare the online solution, while CSGO tournaments like Flashpoint, ESL Pro League or ESEA continue almost as if nothing had happened.
Pavol Krasnovsky, CEO of Esports Analytics Company RTSmunity commented on the situation as follows: "Even before the current crisis, many bookmakers recognized that it was time to express their opinion on the importance of Esports in their Redefine sports betting offer. With all major sporting events and leagues canceled or postponed, sport is becoming the primary goal for players around the world. In the coming months, the sports offer will become one of the decisive factors in Punter's selection of bookmakers. “In addition, we see very quick reactions from well-known brands such as the NBA teams who have decided to offer at least competitive games in NBA2K if they cannot play the sport themselves. Another example could be the Australian Grand Prix, which was canceled but ultimately led to a heated esports fight between F1 drivers and other sports stars like Thibaut Courtois. To fill the gap, they decided to take part in an esports event and show people what it is
Even if you look at FIFA, soccer teams around the world have played against each other online. And even the betting market is adapting, and many go to FIFA betting websites to bet on their favorite teams.
Hand in hand with sport is also an industry – the betting industry. Since many classic sporting events have been canceled, sport is now a shining beacon for content and product offers. Given the already rapid acceleration of the sports betting market, the whole coronavirus situation can be seen as a kind of moment when "life gives lemons, just make a lemonade".
Aside from the fact that there is still a large amount of events to bet on, there are also a lot of new spectators and players who look closely to see what sport is all about. And what you will see is mainly this: Esports are innovative, very dynamic and can adapt very easily. In order to adapt to sports betting providers, you have to act now, since the migration of the speculators will be completed very soon and they will recognize very quickly who has the most comprehensive offer.
This article was sourced from Esports News, Betting Tips & Reviews website, EsportsJunkie.com, find the original article at RTSmunity: Esports saves the betting market