As the world continues to experience the effects of coronavirus pandemic, esports betting revenue, and esports bettors will continue to increase in 2020. According to the latest study, its revenue will almost double in the year.
According to the research, esports betting will earn $14 billion in 2020 from $7 billion the previous year. The main reason for the increase is the coronavirus outbreak that shut down major sports events across the globe. As a result, there are only a few sports betting options available for players.
However, esports events continue as scheduled. Some significant events were canceled, while others changed their format from LAN to playing the tournament online. As a result, esports betting is a thriving industry.
Esports Betting Revenue
247PPH.com learned that more than a third of players wagered on esports in the last three months. Also, 30 percent said they tried betting on esports in the previous month. Twenty-two percent of players haven’t tried esports wagering but are planning to do so within the next couple of months.
Based on pay per head casino reports, esports is one of the few wagering options available during the pandemic. However, not everyone who bet on sports are moving to esports. Around 59 percent of players said they decreased the number of wagers made in the last three months. Also, approximately 54 percent said they stopped betting.
Pay per head providers are looking for ways to keep their business profitable in a time of the coronavirus outbreak. However, many players would instead save their money than spend it during the pandemic.
Those who stopped betting may continue their gambling ways once sports events return. Also, there’s a chance that players who began betting on esports will continue to do so after the pandemic. No matter what the future might be, esports wagering will continue to thrive in 2020.