Global esports market to surpass $970m in 2020

More good results should follow in the years to follow, a Newzoo report said, revising its forecasts for the year in the wake of the global pandemic. In 2021, this number should surpass $1 billion and reach $1.19 billion, the analytical firm stated.

If the rate of growth remains steady, and Newzoo believes it will, then the esports industry should see itself worth $1.59 billion by 2023. While this looks promising, Newzoo has revised figures a little. Originally, the company predicted that esports would surpass the $1 billion threshold in 2020, but this has been disrupted by the global lockdown, which has suspended many high-profile esports events.

Among them were the Fortnite World Cup, ESL One Cologne, DreamHack Summer and DreamHack Winter, The International, and other propellers of esports. Apart from impacting events, the novel coronavirus has drained marketing opportunities and ticket sales.

Naturally, there has been a growth in esports betting and esports gaming online, but this has not been able to make up for the loss of brick-and-mortar revenue. On the plus side, esports have received a great boost.

Many players have explored the idea of esports betting. Esports betting, as it turns out, feels and plays very similar to the games themselves, as gamers tend to have an inherent knowledge. If you ever find yourself tempted, we have reviewed the best esports betting sites you can choose from and bet with crypto.

Many crypto gaming operators have listed an esports betting product in recent months, including Cloudbet, FortuneJack, and others have expanded their offerings, like SportsBet.io. All these sites are ideal if you are looking to make an esports bet yourself right now.

Looking for your next crypto casino? Check out: Bitcasino, 1xBit or FortuneJack.

Written by Tudor

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