The esports ecosystem is growing and getting more mature, which creates always new opportunities for gamers. New investments, integrations, and innovations don’t seem to stop in the nearest future. Esports betting has become a recent development based on the high public interest.
Are you wondering about esports? You can jump straight into betting at https://cover.gg/matches/current. Or you can explore esports betting to understand better how it works. Let’s see the top stories that might affect the entire sector in 2023.
Nevada and West Virginia Make Serious Esports Betting Strides
In the United States, the esports betting sector underwent major developments in its operations. The Nevada Esports Technical Advisory Committee made up the recommendations for the Nevada Gaming Control Board to make esports betting legal. West Virginia lawmakers have already prepared House Bill 4826 which involved the main policies. Whilst a decision has yet to be made, the positive verdict will be announced. The story demonstrates the significance of esports betting to the overall iGaming license landscape in the country.
Betting Sites’ Growing Profitability
In 2023, the performance of betting sites will most likely increase by 25%. This is going to be an organic growth due to the natural interest in esports. There are also more pessimistic reasons for the growth – high unemployment and economic recession. Many people do the wrong thing thinking that esports can replace a real job.
Alongside the profitable year, the esports betting sector reported high revenue. So bookmakers will continue expanding their products and services by making them more diverse.
Twitch’s Stance on Gambling Content Gets More Narrowed
Twitch’s updates on live-streamed gambling content have become a defining moment, for all the right reasons. The platform has made a decision to prevent streams of gambling sites that feature slots and some table games without a US license. Thus, authorization from notable jurisdictions has become a crucial signification of trustworthy content. Those gambling products and services that don’t pass authorization end up on the blacklist.
VALORANT bets Will Become More Common
The esports industry has focused on three video games: DOTA 2, CS: GO, and LoL. But the situation has changed with the rise of VALORANT, a free-to-play first-person strategic hero shooter owned by Riot Games. Its popularity skyrocketed in 2022. As a result, its developers from Riot Games earned almost $60 million in revenue. In 2023, VALORANT is planning to double its income. So the game’s fans will see even more VALORANT tournaments and other events.
Online Casinos Take a Gamble on Esports Content
Bookmakers usually take a deeper dive into the esports world. Now a lot of casinos also dream about joining the golden market. They expand their product offerings by covering esports events. Many casinos have already invested solid amounts of money into esports with the intention to boost their profits.
Considering the close relationship between esports and casino sports, casino operators find it reasonable to expand their business in that direction. They are ready to support esports tournaments through massive investments. Some of them even consider building arenas for esports events where professional teams can take part in.
Japan Will Dominate Niche Esports Betting
The Asian region has always been into esports gaming. Now the time for esports betting has arrived. A lot of talented teams demonstrate a high level of gaming competence by creating great gaming culture. While Chinese or South Korean players like playing common competitive games, the Japanese are more into fighting scenes and video gaming domination. This trend states that Japan will take a leading role in esports in terms of skill competence and the number of betting challenges.
In this article, just a few stories have been covered. Which one of them will come true? Which one will turn out to be a complete flop? The esports community will find this out in 2023. So far, you can sit and watch what is going on in the esports betting sector.