ESports has been taking the world by storm for the past few years as more and more people become aware of this industry. Sure, the gaming industry is extremely profitable and the gambling industry is too but eSports has the potential to really change the way that we view gaming.
There are a number of factors that have contributed to the growth of the industry over recent years. Below, we will look at a few of these including big investment and increased coverage. Read on to find out more.
What Is eSports?
If you are unfamiliar with eSports then you should know that this is a type of competition that involves video games, rather than real life sports. eSports tournaments involve players coming up against each other or playing in teams to win huge prizes at the end. Some of the most popular eSports games include League of Legend, Dota 2 and Fortnite.
One of the main reasons for the growth of eSports stems from increased awareness. Millions of people around the world have been playing video games with their friends or family for years but for a long time, many didn’t realise that eSports even existed. Over time, the number of people aware of eSports increased from around 800,000 in 2015 to around 1.57 billion in 2019. With increased awareness, this industry has prospered.
Without large investment from some of the big tech investors, eSports wouldn’t be as big as it is now. There have been some huge investments from Foundation Capital, Vulcan Inc and Madrona Venture Group. It is also worth noting that Tej Kohli is the largest individual investor in Europe. As investments continue to come through, the industry can adapt and grow.
Another reason why you’ll find that the eSports industry has grown over recent years is the rise of platforms that cover these tournaments. In the past, tournaments were happening but if you didn’t attend, you might not have ever seen it. Now, in 2020, we can watch all of the biggest competitions on streaming platforms such as YouTube, Twitch and social media. Twitch actually has around 1.13 million active streamers which is really quite astonishing.
Finally, the growth of eSports also has to do with the gambling industry and the fact that huge bets can be placed on these games. The gambling industry has also been growing over the past 10 years and with new markets to bet on, this has only increased. Even those who aren’t interested in the games or the teams will still engage with eSports if they can bet on it.
The eSports industry is extremely profitable and it isn’t showing any signs of slowing down. As more investors see the potential that this industry has and new tech is created, it is set to continue with its success for many years to come.