If you believe social media, millennials have “killed” everything from beer to rock ‘n’ roll and everything in between. They do, however, have the opportunity to bring Esports to life — or at least make them more mainstream in terms of sports betting.
Due to the global COVID-19 pandemic, Esports has become more evident and visible, and how the next generation is set to help it find a place in a crowded field when scheduled sporting events return to sportsbooks and casinos is a matter of discussion.
Introduction to Esports
According to a survey by a market intelligence organization, esports is one of the fastest-growing entertainment sectors in the world today, with industry earnings expected to reach over £930 million this year.
As the business begins to take shape, it is critical that the online gambling industry adapts to the changing landscape to fully realize the sector’s enormous potential.
To interact with difficult Gen Z and millennial populations, a variety of betting stakeholders have created esports products in an attempt to bridge market dynamics, with choices such as tote betting and streaming services being adopted.
How things have changed
For years, big sporting events drew the largest crowds, along with casino venues, in the globe, as well as a considerable number of people betting on the outcome.
In 2018, 98 million people watched the Superbowl, the most popular sporting event in the United States, which takes place nearly every year. By comparison, the League of Legends Worlds series drew a total of 100 million online viewers. League of Legends bets are likely to be in high demand given these figures.
Both numbers give a tough reading for the betting market, particularly given the success of centuries in each, with slightly less tuning to watch traditional sports events, while millennials make up a significantly higher percentage of those who watch Legends World or indeed many other major sports tournaments online.
It is obvious that the fundamental aspects of sports betting have evolved for the millennial age, and that every gambling website and betting company must address this issue. As a result, Esports betting is growing increasingly prevalent and distinct across a variety of platforms.
It was an uncharted territory
Because the things that interested previous generations no longer hold the same level of interest for this generation of people, who grew up alongside the development of the Internet and digital age technology, the Millennial generation has proven to be difficult to reach.
What has changed in the Millennial generation’s attitudes? Great sporting events in the past always drew the largest viewers around the world, as well as a large number of people wagering on the outcome.
The Superbowl, which is the largest single sporting event hosted in the United States practically every year, was seen by 98 million people in 2018. The League of Legends Worlds final, on the other hand, drew 100 million unique online viewers.
Those figures are especially alarming for many คาสิโนออนไลน์ sites and the betting industry when you consider the percentage of millennials in each, with far fewer tuning in to watch the traditional sporting event, whereas millennials make up a far larger percentage of those tuning in to watch the League of Legends Worlds, or indeed many other top Esports tournaments, online.
Esports has one of the world’s greatest potential betting markets, and a company’s ability to capitalize on the sector and connect with the Gen Z market could influence whether or not initiatives like virtual reality can succeed, as it gauges a modern customer’s choice.
To summarize, the esports betting market not only allows bookmakers to give new options to their younger customers but also demonstrates how a business can adapt to the ever-changing betting scene.