Online betting has turned out to be one of the major leisure pursuits for people, especially during the Coronavirus pandemic. Both amateur and professional players have been significantly involved in different types of gambling activities, including eSports. Though it is yet in the initial phase, the eSports betting market has started gathering larger audiences. Also, the revenue from eSports betting has skyrocketed in recent years. Due to this increasing traction, eSports betting proves to be an excellent source of new business opportunities. If you wish to expand your gambling business or start a new venture, this is the best area you can consider. Besides eSports app development, you can also think of investing in an eSports betting platform that can get you a huge success.
However, before stepping into this business area, you must have a profound understanding of every aspect. And we have decided to help you get the entire know-how. This blog will help you understand all the crucial aspects needed to start your eSports betting business successfully.
First, let’s start with some basic information,
What is eSports Betting?
eSports betting is relatively similar to the traditional sports betting concept. Both eSports fans and professional punters enjoy placing bets on a range of liveSports events such as League of Legends, Dota 2, Counter-Strike: Global Offensive (CS: GO), Hearthstone: Heroes of Warcraft, SMITE, Call of Duty, and more. Bettors get odds and analyze them for placing bets on the gaming outcomes, players, or teams using various online platforms. As eSports is played across the globe, the odds vary drastically.
Bettors can place bets on eSports events in a number of ways including real money betting, challenge betting, skin betting, social betting, and more.
Esports Betting Market Facts and Statistics
- The global eSports betting market was valued at USD 7983.2 million in 2019.
- This market value is expected to increase to 13050 million USD by 2025.
- The market size will grow at a CAGR of 13.1% between the forecast period of 2020- 2025.
- The Covid-19 pandemic has a major role in the growing popularity of eSports gambling.
- The enhancing quality of the content is yet another reason for the recent huge traction for electronic sports gambling.
- In 2018, electronic sports gambling has gathered over 395 million people across the world.
All the facts and figures indicate the immense scope of the eSports betting market. It is definitely one of the lucrative and most promising industries.
Let’s see some excellent benefits of starting an eSports betting platform so that you will be confident about your decision.
Why Start an eSports Betting Platform?
Better User Engagement
Electronic sports have a wide range of exciting games with interesting concepts and stages that engage players, viewers, and bettors. People watch eSports with great interest and love to gamble on their favorite games. Therefore, a feature-pact eSports betting platform can help you reach a huge audience as well as punters. You can get a higher user engagement rate.
Esports has a huge number of fans across the world. People love to watch live streaming of eSports matches. eSports betting is an excellent way to take this viewership count to the next level. Bettors are interested in watching live match streams along with placing the bets. You can get more audience for your business by offering an eSports gambling platform along with a live streaming option.
A more audience and better user engagement rate can help you earn adequate returns on your investment for your eSports betting platform.
Now, you must be assured of the lucrativeness of your decision to invest in the eSports betting software. However, to make it possible, you must choose the eSports game genre and titles wisely. You need to offer the best eSports title on your platform that can engage a massive number of bettors.
Top Esports Game Genres For Starting a Betting Platform
First-Person Shooter Games
FPS is one of the most popular eSports categories as it offers both ease of gameplay and an enthralling gaming experience. Call of Duty, Counter-strike: global offensive, Overwatch, and Halo are some of the most famous FPS games you can consider for your eSports betting software.
Fighting games have also been widely popular in the eSports area. This genre has gained a significant audience. There are franchises like Mortal Kombat and Street Fighter fighting games that have been a major part of the eSports community.
Multiplayer Online Battle Arena Games
MOBA is the top game genre that has taken the eSports market by storm with bigger cash prize pools. Strife, Smite, League of Legends, Arena of Valor, etc. are the most loved MOBA games you must include in your eSports betting software.
Sports simulation games have been around for a long time. They are immensely popular amongst both sports fans and professional players. FIFA, NBA, Superball Mega Baseball 3, are the widely played games in this genre.
Real-time Strategy Games
The Real-time Strategy genre is one of the crucial parts of eSports. Starcraft 2 is the top RTG game that has turned many competitive gamers into celebrities.
Besides eSports categories and games, you must know what features punters look for in the eSports platform.
Key Features of Esports Betting Software that attract Gamblers
As said above, the bettors love to watch live match streams while betting. Therefore, a live streaming feature is essential for your platform. This also helps users to predict the most accurate outcomes for betting.
Multiple Betting Options
Your betting platform must support different betting options so that users can make the most out of their betting game.
Cryptocurrency is one of the biggest trends in the online gambling industry. It offers more secure, and fast payments along with improved transparency in the betting game, which results in better user engagement. Thus, ensure that your software supports major cryptocurrencies like Bitcoin, Ripple, and more.
Bonuses and Rewards
Bonuses and rewards are proven strategies for user engagement and retention. Your betting platform must have exciting loyalty and referral bonus programs, which encourage existing users to play more and also get you new users.
Multiple Language Support
Having multiple language options helps you reach punters across the world, as they can select their preferred language and access your platform seamlessly.
Multiple Currency Support
Your platform should also support different currencies so that punters from different countries can do transactions easily.
Build an Advanced eSports Betting Software with Betfoc
Now you know the scope of the eSports betting market and all the required aspects of starting a business in this niche. It is time to start working on your eSports betting business idea with the help of experts. Betfoc is one of the leading eSports platform development companies you can trust for the same. We have experienced professionals who can provide you with end-to-end eSports betting software solutions to kick-start your business and take it to the next level.