Rahul Roy is a writer for Techno Sports. He recently released an article entitled “The Rise and Development of The eSports Betting Industry”. In this piece, Roy says that esports’ similarities to traditional sports make it an ideal medium for sports gambling.
“Although the industry is still in its formative phase, the increase in worldwide revenues is indeed overwhelming, as figures show that back in 2018, they amounted to more than $776 million, and what the size of the eSports betting industry will be in the future is a question many people ask themselves. Experts consider that the market is unlikely to slow phase soon, and according to the forecasts, the growth in revenues is expected to increase over in the years to come, and it is projected to hit approximately $1.6 billion in 2023,” Roy wrote. “According to recently unveiled data, sponsorship will be the segment, which will generate the largest share of the revenues, and the projections are that they will hit $664 million by the end of 2021, which is an increase of around $100 million when compared to 2020.”
According to research conducted by Market Study Report, the size of the worldwide esports market ($1.1 billion in 2019) is expected to reach $6.31 billion over the next six years. This represents a compound annual growth rate (CAGR) of 24.4% during that period.
(All information was provided by Techno Sports, Globe Newswire, PR Newswire, Reportlinker, and Business Wire)
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