Present and Future of the Gaming Industry: iGaming and eSports on the Rise
As the world of gaming continues to expand rapidly, two main categories have emerged: iGaming and eSports. These categories provide endless entertainment options on mobile devices, consoles, and computers.
iGaming platforms offer the possibility of betting on the outcome of a game or event taking place live. This includes traditional casino games such as Slots, Blackjack, and Poker, as well as sports betting on professional sports like Football, Tennis, MMA, NFL, NBA, and more. With the advent of cryptocurrencies, these platforms have expanded to more markets, allowing people from around the world to play without relying on physical money or bank transactions for currency exchanges.
The COVID-19 pandemic has only accelerated the growth of gaming, with more people turning to online entertainment during lockdowns. In fact, the global games industry saw a 20% increase in revenue in 2020, based on a report by SuperData. According to another report by Grand View Research, the global online gambling market size was valued at USD 66.72 billion in 2020 and is growing at a compound annual growth rate of 11.5% until 2028. The report cites several factors contributing to the growth of the iGaming industry, including the increasing availability of high-speed internet, the growing number of smartphones and tablets, and the relaxation of regulations governing online gambling in many countries. The online gambling market includes various types of games, such as casino games, sports betting, poker, bingo, and lottery, with the casino games segment expected to account for the largest share of the market, followed by sports betting.
Meanwhile, eSports refers to Electronic Sports, where players or teams compete for a prize in video games. These players train every day to improve their performance over the course of the season, aiming to stay in the top positions in each tournament. There are teams for popular video games like Counter-Strike, Rainbow Six, Axie Infinity, and LoL, as well as official teams like RCDE eSports Team, which competes in LaLiga with its FIFA team.
Many experts predict that the growth of eSports will continue to accelerate in the coming years. By 2025, the global eSports market is projected to reach $3.5 billion, with Asia-Pacific being the fastest-growing region. In North America, the market is expected to surpass $1.5 billion by the end of 2023. Additionally, the number of eSports viewers is estimated to reach over 646 million this year. With such impressive numbers, it’s clear that eSports is not just a passing fad but a thriving industry that is here to stay. As technology continues to advance, and more people become interested in video games and online gaming, it’s safe to assume that the eSports industry will continue to grow and evolve.
The eSports market includes revenue generated from various sources, such as sponsorships, advertising, media rights, merchandise, and ticket sales. With the continued growth of the industry and increasing interest from fans and investors, the market size for eSports is expected to continue increasing in the coming years.
Both iGaming and eSports have generated hundreds of thousands of jobs and allowed companies to make themselves known through advertising and partnerships on massive platforms. It is clear that these categories are not only profitable but also continue to grow, mobilizing millions in transactions and prizes.
