The eSports market is one that has managed to experience a huge amount of growth in recent years as it has achieved a level of popularity around the world that has allowed the industry to boom.
Indeed, there have been a number of different factors that have allowed the electronic sports market to experience the surge of growth that it has enjoyed, with many having become fascinated with the opportunities that it can provide them.
Some have noticed that it can be a rather lucrative business for those who are able to become professional gamers within the sector, whilst those that watch have realised that they could potentially make their own small fortune via the use of sports betting.
Sports Betting in India has been growing at its own impressive rate, however there is every possibility that eSports have managed to contribute to that, too. According to data that has been made available, it has been claimed that the eSports industry in India is estimated to be worth INR 43.8 billion and is expected to increase to INR 118.8 billion by 2023.
However, does this mean that the eSports market could become the next biggest betting market within the country, though?
It could be argued that it will
There is every chance that the eSports market will be able to become the next biggest betting market within the country because of a variety of different factors.
The first will be down to the growth of the betting industry as a whole, as Indians are continuing to seek the best opportunities available to them when placing a wager online. Indeed, whilst many will look at traditional sports such as cricket or football, eSports will provide them with something different whilst also providing them with the potential of being able to place wagers at a quicker rate due to the duration of these events compared to the physical games.
Moreover, the improvement in internet technology within the country could help to improve things and turn eSports into a dominant betting market within India.
As more and more people have access to better internet connectivity, there will be a number of bettors who will find that the exposure of the sport will increase, especially as these activities appear to be a big deal on streaming platforms including Twitch and YouTube.
With more people taking note and the exposure being increased, more will become interested and will see it as an alternative to traditional sports, which may appeal to various generations.
Viewership has increased in recent years
Another factor that could suggest that eSports will become a rather big betting market in the future for India is in regard to the growing viewing figures and the involvement of sponsors for each tournament that takes place.
Recent years have seen viewership figures double to around 17 million in 2020, and consultancy firm, KPMG estimates that the audience for eSports will exceed 130 million by 2025.
Indeed, given that it was recently included as a medal sport for the first time at the Asian Games 2022, could be another indicator as to why the market could be about to boom further, as there will be another opportunity in which further exposure is provided.
Furthermore, to highlight just how big eSports has become in the country, India has seen brands – including Mountain Dew, Poco, Qualcomm, Logitech, Airtel, Dell, Acer, Coca-Cola, and Oppo – sponsoring eSports tournaments and teams in the last two years, thus emphasising just how big the industry is becoming within the country.
Indeed, the increase in the commercial interest of the eSports market will likely have a profound impact on the gambling industry as a whole, too.
Conclusion
There is no denying that the eSports market is an interesting sector and one that is certainly worth keeping an eye on as there is plenty of potential. It would be wise to think of it as a market that will emerge in the near future as a big betting market, too.
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