Esports betting surges, reflecting changing trends

The surge in esports cryptocurrency betting has also garnered considerable momentum

The landscape of sports betting has undergone a significant transformation in recent years, with esports emerging as a powerhouse in the industry. According to insights provided by SOFTSWISS Sportsbook, a leading sports betting software provider, the preferences and habits of bettors have shifted noticeably.

Traditionally, sports like football, tennis, and basketball have dominated the realm of sports betting. However, esports have steadily climbed the ranks, moving from 7th place in 2021 to 4th in 2023. Notably, games like Counter-Strike have garnered substantial attention, ranking 6th in terms of betting volume.

Alexander Kamenetskyi, the head of SOFTSWISS Sportsbook, highlighted the potential of esports in shaping the future of wagering. He suggested that focusing on cybersports could attract a wider audience beyond the typical demographic of sports bettors.

Projections from Newzoo estimate that the esports audience could reach a staggering 640 million viewers by 2025, underscoring the immense opportunities available in this burgeoning sector.

One prominent trend observed in the industry is the increasing prevalence of mobile betting. In 2023, 80% of all bets were placed via mobile devices, up from 70% in 2022 and 68% in 2021.

This shift towards mobile platforms, particularly for live betting, has become a significant contributor to operators' gross gaming revenue (GGR), accounting for 92% of total revenue.

Kamenetskyi emphasized the importance of improving mobile interfaces, especially in regions with challenges in internet connectivity such as Latin America and Africa.

Moreover, the rise of esports cryptocurrency betting has gained significant traction, symbolizing the convergence of two expanding sectors and offering fresh prospects for both gamers and investors.

Another notable observation is the impact of major sporting events on online casino turnover. During events like the 2022 World Cup, there was a notable decrease of 10-20% in casino turnover, indicating a temporary shift of focus towards sports betting among players.

To address this trend, Kamenetskyi suggested integrating sportsbooks with existing casino platforms, a move that not only enhances the appeal of casinos but also keeps players engaged during major sporting events.

Notably, the SOFTSWISS Sportsbook is designed to seamlessly integrate with any casino platform currently available in the market.

Additionally, SOFTSWISS’ range of cryptocurrency options encompasses almost 20 digital coins. SOFTSWISS also offers the In-Game Currency Conversion function, enabling gamers who possess cryptocurrencies to effortlessly engage in games originally tailored for fiat currency transactions.

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Written by Silvia Pavlof

Silvia has explored various forms of writing, ranging from content creation for social media to crafting movie scripts. Drawing on her experience as a journalist specializing in the gambling sector, she is currently investigating the impact of cryptocurrencies and blockchain on traditional gambling and iGaming.

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