The Rise of the Esports Betting Market is Leading to New Opportunities
In 2015 saw online betting break into the mainstream in a big way, and no place was that more obvious than in the largest growth segment of the sports home entertainment industry, esports. As bettors shift invest far from conventional wagering due to the effect of the pandemic on live sports, esports wagering is ending up being an enormous industry that is revealing no signs of slowing. In 2020, esports wagering sites were expected to generate an estimated $1.80 billion, a portion of the $443 billion that the global gaming industry was approximated to be worth in 2020, leaving plenty of space for growth in the esports market. Heading into 2021, the industry has plenty of advancements for companies like Real Luck Group Ltd, “Luckbox” (TSXV: LUCK), FansUnite Home Entertainment (CSE: FANS) (OTC: FUNFF), DraftKings (NASDAQ: DKNG), Golden Nugget Online Gaming (NASDAQ: GNOG), and Skillz (NASDAQ: SKLZ).
Amongst the most promising and ingenious of the business stepping up for a new age in sports wagering is Genuine Luck Group Ltd, “Luckbox” (TSXV: LUCK), a fully certified international esports wagering brand name, offering legal real-money betting pre-match and mid-game, in addition to live streams and stats for every single match on desktop and mobile. Luckbox was called a Rising Star at the 2020 EGR Operator Awards.
” I believe another sign of esports’ shift into the mainstream was our EGR Award in November,” Luckbox CEO Quentin Martin stated in a recent release. “The EGR Operator Awards are the Oscars of the betting industry and for us, an esports-dedicated platform, to be named Rising Star programs that the egaming world is taking esports seriously and accepts it is quite a vertical to view.”
Luckbox’s platform offers the most detailed esports wagering and spectating experience in the market. The platform includes 13 of the biggest titles in the competitive video gaming scene today, consisting of League of Legends, CS: GO, FIFA, Overwatch, and DOTA 2. Luckbox has actually separated itself from its competitors by offering more match protection than just about any other platform live in more than 80 countries. Luckbox lets users make bets pre-match and during the action, with more than 20 payment options, consisting of Visa, Mastercard, Trustly, Skrill, NETELLER, Bitcoin, and Ethereum.
The platform is likewise highly versatile and has the ability to rapidly add support for brand-new esports titles as they become popular in a rapidly moving esports landscape. Luckbox is presently concentrated on esports as the biggest development location in the area, however the business likewise acknowledges the substantial size of the traditional sports betting market, with strategies to use online wagering for NFL, NHL, soccer, tennis, and other major conventional sports leagues in the near future.
Companies like Luckbox are setting up for special days in the online sports betting industry. Luckbox went live on the TSX Venture Exchange in December 2020 with incredible success, and the company anticipates what could be a big year of development in 2021.
” These are interesting times and 2021 will be a really hectic year for us,” Martin said. “Up until now, practically all of our development has actually been organic and the capacity for growth through marketing is substantial.”
Esports betting innovation business FansUnite Entertainment (CSE: FANS) (OTC: FUNFF) revealed in December that the company had participated in a partnership with GameCo LLC and Sky Ute Casino to develop the very first esports-focused sportsbook in the state of Colorado. In November, the company revealed that it had actually become a member of the Canadian Gaming Association, and FansUnite plans to benefit from a Canadian landscape when it begins to shift towards online betting.
DraftKings (NASDAQ: DKNG) expanded its mobile sportsbook into a number of US states throughout the course of 2020, and the company is continuing that growth in 2021, launching in Michigan in January. Currently one of the greatest names in the conventional online dream sports wagering space, the company has also broadened into dream esports in recent years.
In December, Landcadia Holdings II finished the acquisition of and mix with Golden Nugget Online Video Gaming (NASDAQ: GNOG). The companies had actually formerly revealed intentions in June to combine and consequently go public on the NASDAQ, and Golden Nugget CEO Tilman J. Fertitta stated that the business sees chance in the online video gaming area.
Cathie Wood, founder, CEO, and CIO of ARK Invest, purchased 215,000 shares of Skillz (NASDAQ: SKLZ) in January, signifying momentum in the esports space. Skillz is a mobile video games platform that lets epsports players link through competitors and tournaments.
The sports betting and esports markets are developing on the traction acquired last year, creating even more opportunities for platforms like Luckbox as the industry moves on.