One of the largest emerging markets in online gambling is betting on eSports. Although eSports has a long history, it increased its popularity during the COVID-19 epidemic when all the other sports events were suspended.
Gambling on this gaming concept is also very popular and mostly done via a reputable live casino, which offers a wide range of payment methods, including crypto! There are additional advantages to paying with cryptocurrency regarding eSports bets, such as the possibility of live betting, cashback, and anonymous staking. With eSports’ recent rise in popularity, entrepreneurs will come across and overcome many unique issues — and also many new economic opportunities.
What Are the Possible Opportunities Available?
However, esports betting has also brought some new employment opportunities to the tab, as aficionado analysts and tipsters provide information that helps bettors make smart decisions. Similarly, the increase in sponsorship and advertising has brought new money to the concept and new benefits to teams, players, and the whole sector. Here are other impacts:
- Proper eSport Analysis;
- Affiliate Marketing;
- Communities and Social Networks;
- Data Aggregation.
Proper eSport Analysis
As this gaming style has grown in popularity, demand for serious research has grown, too. Analysts who approach this method like traditional sports would likely research the history of a club to generate odds and stats.
Due to the fact that these kinds of games are completed much quicker and matches in simulations are much shorter, the analysts will have access to more data. They should be able to make much better predictions. Many companies already offer this service, and this number and their capacity keep increasing.
Affiliate Marketing
Since this business is very competitive, with many organizations, production companies, agencies, etc, the consumer should constantly promote itself and gather more sportsmen, subscribers, and viewership. And affiliate marketing is one of the best tools to reach this audience. Affiliate marketers treasure a base of the target audience and topic familiarity.
Among the many reasons it is one of the less expensive forms of advertising is that it relies on trust, and its formats are relatively simple, such as texts or videos. New influencers appeared in the last few years and signed multi-million deals with organizations.
Communities and Social Networks
Like brick-and-mortar sports, they are also deeply social activities. Supporters’ social networks and groups are fundamental to the experience, as fans watch the sport together and share bets. Often, it is possible to copy other fans’ bets and learn from their mistakes and journeys.
People are starting to make a living from overseeing and administrating these communities. It’s gambling because you can lose your job, but it’s a much more serious role than that of a social media manager.
Data Aggregation
In this form of gambling that is constantly growing, the projection is more precise and reliable using data. With more matches every single day, there is more data available. Many more data aggregation systems can help with data collection, analysis, and sharing, such as player statistics, match results, live event updates etc.
The cost of data-gathering represents the biggest investment required to launch such an enterprise; cloud-based data-harvesting technologies are at least as expensive as the analysts needed to make sense of it. Such firms are already trading and are beginning to win fans among teams and bookmakers.
Challenges eSport Entrepreneurs Might Face
While some of these difficulties arise from the specificity of the industry, all newly established IT sector companies have to deal with the others. Specifically, here are some of the problems entrepreneurs in this niche might encounter:
Regulatory Difficulties
Unlike most other forms of gambling, the sector is extremely young, and the technology it involves — blockchain, augmented reality, data collection — is leading-edge. As a whole, and for individuals, that creates a regulatory challenge.
Since the law governing it is constantly being made and unmade, starting a business that involves it will take some effort before it can expand. This is especially so now, since in the past two months, both eSports and the use of cryptocurrencies have been on the rise, and the government will be looking at ways to control the business as its adoption continues to increase.
Integrity Issues
Like any other sport, the main risks in betting are integrity problems and games being fixed and tampered with. The reputations of the industry and any betting sites are affected. It is also an open secret that even bigger eSports teams have debated fixing matches.
Traditional sports also suffered this same faith during the rounds of investment in the industry. However, the stakes are higher in this recent form of gambling because they are, for the most part, still video games.
Complexity of Technology
Some of us even have to be taught to work with this part of a business independently: all the technology stuff that comes with operating in this sector, including live betting, cashback bonuses, and the intricate data that the business will collect.
This means a lot of infrastructure has to be built up, and an expensive gamble has to be taken to start and maintain a business. This is an expensive first step and something that many companies wish to avoid.
The Promising Yet Challenging World of Esports Betting
No doubt, esports betting has become an exciting trend in the video gaming industry. For both sides, betting and e-sports have brought worthwhile opportunities and challenges. The eSports sector is ramping up due to the rise of betting, but this gambling concept is also creating new job opportunities. However, the difficulties of the situation should be well addressed with practical regulations.
But let’s not forget, we should not only play but also watch the games we know and love without distorting their honesty and justice as we gamble our hearts out in this exciting new world of eSports betting. Good luck!
