Will E-Sports Betting Outgrow the Online Casino Market in the UK?
The online casino market has steadily grown ever since the 90s when internet connectivity suffered a boost. While people initially had doubts as to how it worked, they were fast to embrace it for its convenience and speed. Even bingo lovers did not delay taking up the opportunity presented by online gambling. They soon supplemented traditional bingo halls with online bingo, with some even playing the latter in entirety, having foregone physical establishments. And with this increased uptake, it became easier for players to browse quality bingo reviews as they figured out which websites were most trustworthy. For a while, online gaming seemed to be winning and many people were investing in it.
Then came the e-sports industry which has grown so fast that by 2021, it was estimated to reach £31.00 billion by 2025. As such, talk has been rife regarding if it will outgrow the online casino market. This debate has unsettled some players who are unsure what to do. Should they start betting on e-sports? Or should they hold on to what they love, knowing that it will still be a good source of revenue in the coming decades? We look at what both industries have to offer and if there is any truth to the swirling rumors:
Why the E-Sports Industry Has Grown Fast
Each industry benefits from its enabling factors, and the same holds when it comes to e-sports. So, what has propelled its growth in the past decades?
1. The availability of games: If you place bets on e-sports, you will never be short of games to play. So many tournaments occur at any given time and in different categories. You can switch between minor and major tournaments to increase your chances of winning. And, of course, this availability works in your favor in the long run as you can play multiple games in a day.
2. The availability of bookies: More bookies have opened up to e-sports, so much so that some dedicate their platforms to these games. Bookies have also been active in streamlining their sites to accept low deposits, offer better odds, and process fast payouts. That has made it a buyers’ market that helps players get the best possible deals.
3. The ease of entry: Unlike most betting opportunities that require you to be knowledgeable about particular games, you can start e-sports betting with little to no knowledge. It has made it easier for people who cannot invest so much time in research to make some good money on e-sports. However, if you are in it to turn a huge profit, you should:
- Learn the basics of the games,
- Focus on one niche and carve out the best teams and players, and
- Research the factors in each game, including past events, missing players, etc.
4. Odds are not always a show of the real world: E-sports betting is relatively new, meaning bookies are yet to get the hang of things altogether. As such, if you can arm yourself with sound research, you can beat the odds compilers in their game and can make a lot of money.
These are some of the winning pros. The downsides to e-sports betting are what you would encounter in other online wagers. For example, players who use unlicensed sites put themselves at the risk of losing their winnings.
Can Online Casinos Keep Up?
The popularity of e-sports betting has put online casinos in the limelight, with many people questioning if the latter would end up phased out. But is this the case? Online casinos boast the following benefits:
- They are diverse: Like e-sports, a game is always available to players. You can play the live options or seek the adrenaline-inducing slots or video poker options. And given the number of websites offering such services, you can play multiple variations of the same game.
- They are trustworthy: As long as you use a licensed casino, you are always assured that you have a fair chance of winning – this is all thanks to random number generators. These produce random results. For example, if you’re playing slots, the software generates the next symbol. And this assurance that nobody will mess with the outcome makes people hope they can win.
- Most have offers: There is always something in store for avid and new players. You can get a chance to play free games or can get more money to spend on certain games. As such, you can use a site without depositing any money and still make a profit.
You must play with a licensed site; otherwise, you can lose your money or have your financial data revealed to a third party.
Will E-Sports Outgrow Online Casinos?
It’s easy to think that the e-sports market will grow so much that it will exceed the revenue from online casinos. But is it practical?
On the one hand, the e-sports market has proliferated and risen in popularity, especially among the young generations. Many younger people find it easy to grasp the concept of e-sports as many have gamed in one way or another. As more young people develop an interest in this type of wagering, the market share will grow. It is thus likely that it can bridge the gap that exists between this industry and the online casino industry.
On the other hand, casinos will not lose their popularity. Now that more people can access games via mobile phones, the industry has been growing fast. And it also attracts people in younger generations and will thus not die off as the older generations stop playing. If anything, the inclusion of new technologies like mobile apps, virtual reality, augmented reality, and social forums have only made it more attractive to new players.
As such, both industries will keep growing, retaining, and attracting more players over time. After all, they boast the same benefits for the most part:
- Variety,
- Convenience,
- Low buy-ins, and
- Varied payment methods.
Stating that e-sports will emerge as the top industry at this point would thus be premature (current and future insights considered). Instead, players can choose whichever industry they like best and bank on it to keep getting better.
