Sportsbooks were surprised to see eSport betting volumes grow by 40% over March 9th to April 19th. Details provided by B2B analytic firms revealed that the United States saw 80% of the overall growth obtained from virtual venues with NBA2K and FIFA20. Analytic findings were released from EveryMatrix, a B2B Firm that operations in the online betting market space. Their primary services compile data for sportsbooks and digital casinos, informing them of new products that could maintain significant growth. Primary recommendations since January 2020 have regarded eSports betting.
EveryMatrix indicated via their reports that eSports total investment from bettors by December 2020 could sustain $15 Billion. That’s an accelerated growth of 100% over four years, with eSport Wagers accounting for a $5.5 billion valuation. Analytic findings revealed that bets with digital sporting venues grew from 2% to 25% over March 9th to March 16th, one of the fastest-growing betting products seen in 10+ years.
There are higher valuations of players competing online, with the average wager having lowered by $20.00 since the pandemic broke out globally. It’s reported that monthly earning from individual players for sportsbooks don’t exceed $750 when the previous average from $950. EveryMatrix detailed that newly registered players were expected after billions were forced indoors. However, multiple analytic firms expect valuations to deplete drastically after economies begin to reopen. New registrants will shutdown accounts and return to their routine daily tasks. Conversion percentages for retaining these punters aren’t expected to exceed 15% for the standard sportsbook.
Two Months of Growth
The expansion of eSports Betting followed after operators worldwide began integrating these technologies to their platforms. Most every sportsbook online is supporting some rendition of eSports betting. The National Basketball and International Football Association have seen their virtual matches dominate over the competition. The 3rd most popular venue to wager on is Formula One, with IndyCar and Nascar tied for 4th. It should be noted that this growth will allow eSports betting on remaining a consistent product with sportsbooks going forward, pandemic or not. Bettors can also bet on conventional eSport Content like Call of Duty League, the Overwatch Series, and the League of Legends Championship.