Esports betting is booming
Esports might have had a difficult year navigating the ongoing Covid-19 pandemic and losing live event revenue in the process, but they could more than makeup for it when wagering is factored in In fact, esports gambling could end up being a multi-billion dollar this year alone and has the potential for rapid growth over the next couple of years.
According to The State of esports betting report in 2020,” the industry could make 12-15 billion dollars by the end of 2020 in wages. This is up from 5.5 billion in 2016 and could in large part be from the number of people that have started taking part in this activity.
The problem with esports betting
Unfortunately for esports though, the industry is starting to come under fire for these statistics and the young demographic that their sport targets. One report from TNW.com claims that esports is quietly cultivating a whole new generation of gamblers and that some of their marketing material for waging sites are to blame.
Now, it is worth mentioning that The Gambling Commission released a report in 2019 that claims 17% of gamblers surveyed were between the ages 16-24. While that might sound particularly alarming, especially given such a young age demographic, it is ultimately up to each state or country to legislate the age at which someone can legally gamble. Parents also should play a role.
Another problem with this report is that some of their other stats can’t be accounted for and might not