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Esports Market Surpass $ 7131.8 Mn by 2028 Says Acumen Research and Consulting Experts

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Global Esports Market size is estimated to grow a CAGR above 25.1% over the forecast timeframe and reach a market value of around USD 7131.8 Mn by 2028.

Esports is a burgeoning global industry in which skilled video gamers compete. Globally, time spent on mobile devices has officially surpassed time spent on television, with users spending eight minutes more per day on their mobile devices. By 2021, this figure had risen to more than 30 minutes. Over 380 million people watch esports worldwide both online and in person.

Covid-19 impact on Esports Market

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Despite widespread economic disruption caused by the coronavirus, the global video game industry is thriving. The coronavirus is not immune to gaming. Esports, with its reliance on live events, was one of the first sectors to be affected. The majority of esports events have been cancelled or postponed, though some are still taking place without spectators. However, today the industry is performing outstanding driven by increasing number of global tournaments, growth in number of regional events, etc.

Global Esports Market Dynamics

The growing youth population and changing lifestyles have both contributed to an increase in demand for video games and online video games over the years. Growing audience reach and engagement activities, significant investments, rising live streaming of games, and expanding infrastructure for league tournaments are key factors driving the market growth. Global online platforms such as Facebook, YouTube, and Twitch, which allow streamers to gain popularity and impressive earnings, have contributed to the esports market share’s increased growth. Increased smartphone penetration and improved internet connectivity have resulted in a rapid increase in the number of gamers.

However, certain constraints and challenges are likely to impede the overall growth of the Esports Market. The fraudulent betting that is leading to game piracy poses a threat to the market. Additionally, the market’s growth has been hampered by a lack of tournament infrastructure and a small number of organizations. The video game industry is rapidly evolving from a casual hobby to a professional career opportunity, which is also a global esports market trend. Moreover, large-scale esports investments are expected to fuel the esports industry’s growth. Furthermore, the increasing adoption of advanced gaming technologies increased smartphone penetration, and improved internet connectivity has increased the number of gamers, positively influencing the market growth.

Sponsorship accumulated for the impressive shares in the global esports market scenario

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In 2020, the sponsorship segment acquired the largest shares. The well-known gaming/tech esports sponsors are increasing their involvement as the industry intensifies. Sponsorships are important in the esports industry because an increasing number of companies are investing in them. Furthermore, with rising player wages and an expanding esports market, the introduction of new sponsors is critical for esports’ long-term commercial success. To increase their brand value gaming as well as non-gaming sectors are also investing in the esports industry.

On the other hand, the media rights segment is anticipated to witness the fastest CAGR throughout the forecast period 2021 – 2028. Media companies pay exorbitant fees to win the exclusive right to broadcast the live streaming of major sporting events. Esports is made up of thousands of individual leagues, and events, and the media rights deal, thus the media rights segment is likely to register the fastest growth in the esports industry.

Esports Regional Stance

The global classification of the esports market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among all the regions, North America conquered the global market with the largest shares in 2020. The growing number of investments and technological expansions are the key aspects that continue with the franchising North America League of Legends Championship Series (NA LCS) and Overwatch League are fueling the North American esports market. However, the Asia-Pacific esports industry is expected to dominate the market in the coming years. Due to the COVID-19 outbreak, Asian gaming behemoths such as Nintendo and Tencent saw increased sales in the first quarter of 2020. This trend is expected to continue, as an increasing number of gaming companies collaborate with sports organizations to provide virtual tournaments to sports fans. Furthermore, Asia-Pacific is also expected to register significant growth.

Major Players

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The esports market is consolidated with a large number of players. The prominent players presented in the report include Activision Blizzard, Inc., Valve Corporation, Tencent Holding Limited, Modern Times Group, Faceit, Electronic Arts Inc., Gameloft SE, Nintendo of America Inc., NVIDIA Corporation, Wargaming Public, and others.

For instance, on September 29, 2021 – Electronic Arts Inc. and FIFA have announced the launch of a new EA SPORTS FIFA 22 esports program that is expected to attract millions of players and viewers. In 1v1 and 2v2 competitions, players will characterize themselves, globally recognized e-sports organizations, real-world football clubs, and their country in a series of FIFA esports events.

Moreover, in November 2017 – Electronic Arts and FIFA collaborated to launch an esports tournament series for the Electronics Arts FIFA video game franchise.

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DATA.BET Launches Esports Bet Builder

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The company advances the betting experience for esports fans

DATA.BET, a leading esports betting provider, releases Bet Builder, designed to create highly customized compound bets within a single match, offering a thrilling experience for professional bettors and avid esports enthusiasts.

Unlike traditional express bets, which span across multiple events, Bet Builder operates within a single event. It allows players to tailor their bets with flexibility, making it ideal for skillful users who deeply understand the game and seek a more personalized and strategic betting experience. With Bet Builder, users can bet on a wide range of markets within a single event, freely combining their selections without any restrictions.

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In addition to its powerful functionality, this product is versatile in its integration. It can be seamlessly connected to any platform via API, allowing operators to offer this premium feature without technical limitations.

The novelty is already available for Counter-Strike 2 and will soon expand to cover other popular esports titles such as Valorant,  League of Legends, and other disciplines.

“Our Bet Builder is a game-changer in the esports betting landscape,” said Rostyslav Likhtin, Head of Product at DATA.BET. “We’ve developed a sophisticated mathematical model that allows us to offer this feature on compound events without compromising on profitability. Beyond providing a unique experience that boosts engagement rates, loyalty, and expands the user base, it also significantly increases the operator’s turnover from the existing audience. Additionally, Bet Builder helps attract new players who are eager to explore combined bets on popular sports, allowing them to become more familiar with these disciplines.”

The post DATA.BET Launches Esports Bet Builder appeared first on European Gaming Industry News.

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BETBY EXPANDS ESPORTS PORTFOLIO WITH LAUNCH OF eSTREETBALL

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BETBY, a leading provider of premium sportsbook solutions, has announced the addition of eStreetball to its BETBY Games esports content portfolio, further enhancing its impressive lineup of e-simulator sports. BETBY Games now features nine different sports, hosting over 50 tournaments across various disciplines.

The newly introduced eStreetball title brings players the excitement of three unique tournaments: NBA All-Star, NBA All-Classic, and CBA All-Star. Combining state-of-the-art graphics with extensive betting options, the game delivers an exhilarating and immersive experience for esports enthusiasts.

Each eStreetball match offers rapid gameplay, with games concluding in just seven minutes. For an enhanced betting experience, the game provides more than 10 betting markets, including options like winner, total points, home total, away total, handicap, odd/even, and race to points. This latest addition follows a series of recent updates to BETBY Games’ esports portfolio, showcasing the company’s commitment to delivering innovative and engaging content for its partners.

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Kirill Nekrasov, Head of BETBY Games, commented: “We were thrilled with the success of our recent Classic eBasketball release, which motivated us to accelerate the launch of new content for this game. We’ve now introduced another basketball-based sport, and I’m confident it will resonate with both casual players who enjoy quick bets and instant outcomes, as well as esports enthusiasts who are always eager for new disciplines.

He added that: “We are continually striving to innovate and enhance our offerings, aiming to provide the best possible esports experience for our partners and their players. The introduction of Streetball to BETBY Games’ e-simulator portfolio reflects our dedication to the esports sector. By delivering top-tier content, we empower our partners to differentiate themselves in the market while keeping players engaged, particularly during periods when live sports events may be limited.”

The post BETBY EXPANDS ESPORTS PORTFOLIO WITH LAUNCH OF eSTREETBALL appeared first on European Gaming Industry News.

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SIS goes live with Superbet to strengthen esports product profile in Romania

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Operator adds 24/7 sport simulation content to offering

SIS (Sports Information Services), the leading content supplier of 24/7 live betting services, has launched its Competitive Gaming product with Superbet in Europe and South America through the Genius Sports platform.

The complete suite of H2H Global Gaming League™ eSoccer and eBasketball matches, numbering over 150,000 events per year, is now live with the Romanian operator. Superbet will benefit from the increase in wagering opportunities provided by the event-based product, which is proven to maximise engagement and margin for operators.

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Since its launch in 2008, Superbet has established a strong presence across the Central and Eastern Europe (CEE) region, becoming a leading operator in Romania, Belgium, Poland and Serbia. The operator offers a diverse sportsbook, presenting constantly evolving sports betting opportunities to its customers.

Competitive Gaming’s H2H Global Gaming League™ sees highly skilled professional gamers take part in short-form eBasketball and eSoccer matches. The contests are produced entirely in-house in the UK and include tools and features to enhance the customer experience.

It is the only esports product available on the market to have been awarded the Esports Integrity Commission’s (ESIC) Gold Standards, the highest possible accreditation created to set unmatched levels of integrity and safety in the industry, with trained referees overseeing every contest.

Launching Competitive Gaming with Superbet reaffirms SIS’ reputation as a global supplier of value-adding, round-the-clock content.

Andrew Kelly, Head of Commercial Partnerships at SIS, said: “The partnership with Superbet is the latest operator agreement as we strive to widen the reach of our Competitive Gaming portfolio, leveraging our recent platform partnership with Genius Sports.

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“Superbet has an impressive footprint and we look forward to bringing our revolutionary product to bettors throughout this entire region.”

Ivan Gojic, Head of Trading Product at Superbet Group, added: “Superbet has established a reputation of being a champion of the sports betting industry across the CEE region, due to the unique and immersive experience that we offer to our customers. We are always looking at ways to improve the quality of this experience and enhance the array of wagering opportunities that we provide.

“SIS’ Competitive Gaming is a proven product with increased quality and variety in terms of content, and we are excited to add it to our offering.”

The post SIS goes live with Superbet to strengthen esports product profile in Romania appeared first on European Gaming Industry News.

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