Global Esports Betting Market Expected to Exceed $205 Billion By 2027

PALM BEACH, Fla., June 24, 2021 /PRNewswire/ -- Beginning with the lockdowns that came with the pandemic, gamblers shifted away from the traditional betting areas due to the impact of the coronavirus pandemic on live sports, and they moved towards other betting properties such as esports. Many gamblers who had never tried betting on esports before, found a new way to spend… and new and exciting ways to bet! According to global consumer surveyors 2CV and market analysts ProdegeMR, this rise in newcomers is why the Esports global gambling revenue was set to double to US$14 billion in 2020. In recent years, esports has exploded into the mainstream, moving from a niche to a central form of entertainment across the globe, and ticket sales are shifting from the arena to the internet. While esports may have once stood for a subset of sporting culture, it has become a complete industry in its own right with the current developments.  According to a report from Valuates Reports, the global eSports market size is projected to reach USD 1860.2 Million by 2026, from USD 691.6 Million in 2019, at a CAGR of 15.1% during the forecast period 2021-2026. Another report from Market Insights was even more optimistic saying that the global eSports Betting market was valued at 12670 million in 2020 and is projected to reach US$ 20730 million by 2027, at a CAGR of 13.1% during the forecast period.    Active gaming and tech companies in the markets today include:  Esports Technologies (NASDAQ: EBET), DraftKings Inc. (NASDAQ: DKNG), with Esports Entertainment Group Inc. (NASDAQ: GMBL), Penn National Gaming, Inc. (NASDAQ: PENN), Score Media and Gaming Inc. (NASDAQ: SCR) (TSX: SCR).

Major factors driving the growth of the global esports market size are the increasing popularity of video games, formidable investments, rising live streaming of games, and increasing infrastructure for the league tournaments.  The Valuates report said: "The increasing popularity of video games is expected to drive the esports market size. The online gaming market is growing at a healthy pace due to factors such as increasing acceptance of advanced gaming technology, evolving customer entertainment preferences, rising income levels, and increasing demand for mobile gaming. Furthermore, the growing mobile penetration and increased internet access are expected to fuel the esports market size."

Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Files Patent for Live Streaming Wagering Technology - Patent-Pending Technology Allows Sports and Esports Fans to Wager in Real-Time Across Live Streaming Platforms -  Esports Technologies, a leading global provider of advanced esports wagering products and technology, announced this week that it has filed a comprehensive provisional patent application for its technology that enhances the betting experience for sports and esports live streaming events. The provisional patent filing covers a proprietary technology that integrates sports and esports wagering across many of the world's most popular live streaming platforms, including Twitch, YouTube, Amazon TV & Gaming, Facebook Gaming, Hulu among others.

Aaron Speach, CEO, Esports Technologies, said, "How we watch and bet on sports has changed and this patent-pending technology is the next step. Our technology will allow bettors to stay in the zone, accessing everything they need right there in the browser without ever leaving their streaming environment. The industry is ripe for this kind of innovation. This patent filing is the first step for us in our continued journey to enhance the wagering experience for everyone."

Live streaming has seen explosive growth – rising from 1.97 trillion hours watched in 2019 to 3.93 trillion in 2020https://techjury.net/blog/live-streaming-statistics. Live streamed gaming content was also on the rise, with fans watching more than 27 billion hours of esports across Twitch, YouTube Gaming, and Facebook Gaming in 2020. Esports Technologies' streamlined, highly intuitive interface will integrate seamlessly with leading streaming platforms and will offer an immersive wagering experience for fans. Bettors that consume gaming content online will have the ability to see odds in real-time and make prop bets in their browser. All of the in-browser technology will be powered by Esports Technologies' real-time data feed. To learn more, visit our website at www.esportstechnologies.com  CONTINUED…   READ THIS AND MORE NEWS FOR EBET BY VISITING:  https://esportstechnologies.com/news/

In other entertainment and gaming recent news of interest:

DraftKings Inc. (NASDAQ: DKNG) recently announced the company will collaborate with the American Gaming Association (AGA) to promote the AGA's Have A Game Plan.^® Bet Responsibly™ public service campaign. DraftKings has committed to apply the campaign to many of the company's owned channels, including at DraftKings' retail gaming properties, to promote safer play. This collaboration marks the first time in the industry that the Have A Game Plancampaign will be comprehensively rolled out across a national retail sportsbook footprint. The campaign will appear in all ten DraftKings retail sportsbooks across the country.

"We are excited to join forces with the American Gaming Association to promote their forward-thinking public service campaign, Have A Game Plan," said Christine Thurmond, DraftKings' Director of Responsible Gaming. "Customer safety is paramount, and we are confident that implementing Have A Game Plan alongside our own responsible gaming messaging and tools will enable us to increase customer exposure to responsible gaming practices and ultimately foster safer play."

The New York Rangers recently announced a marketing partnership with Esports Entertainment Group Inc. (NASDAQ: GMBL) (EEG), naming the esports company their Official esports tournament provider, beginning on July 1. As part of this relationship, EEG will operate three Rangers-themed esports tournaments utilizing its Esports Gaming League brand and platform. EEG will work with the Rangers organization to create custom videos that promote these tournaments across all Rangers digital platforms. Each tournament will include incredible prizes such as Rangers merchandise and memorabilia.

"Over the last few years, we've hosted dozens of amateur esports tournaments with our esports organization CLG, which have been incredibly well received and we can't wait to expand on this with the Rangers," said Dan Fleeter, Vice President, Business Operations, MSG Sports Corp. "We look forward to a long and mutually rewarding relationship with EEG and believe this is a wonderful opportunity to engage with an audience interested in hockey and gaming."

Penn National Gaming, Inc. (NASDAQ: PENN) recently announced that it has received final approval from the Maryland Lottery and Gaming Control Commission ("Commission") to acquire the operations of Hollywood Casino Perryville. Penn National entered into a definitive agreement with Gaming and Leisure Properties, Inc. (GLPI: Nasdaq) ("GLPI") in December 2020 to acquire the operations of Hollywood Casino Perryville for $31.1 million in cash, subject to certain customary working capital adjustments. Simultaneous with the closing of the transaction, Penn National will enter into a lease with GLPI for the real estate assets associated with the Hollywood Casino Perryville facility with annual rent of approximately $7.77 million.

"I want to thank the Commission and their staff for their time and effort in reviewing and approving our Company's license to operate Hollywood Casino Perryville," said Jay Snowden, President and CEO of Penn National. "We are thrilled to be re-entering the Maryland market at a property we developed in 2010 as it will add a twentieth gaming jurisdiction to our already leading nationwide footprint. "In addition, we're equally excited to be entering this market following the legalization of sports betting in Maryland a few weeks ago. This acquisition provides another opportunity to expand our unique omni-channel platform with a Barstool-branded retail sports book and mobile app," concluded Mr. Snowden.

Score Media and Gaming Inc. (NASDAQ: SCR) (TSX: SCR) recently issued the following statement on the Senate of Canada's passing of Bill C-218, An Act to Amend the Criminal Code, which will legalize single event sports betting in Canada. Bill C-218 is now eligible to receive Royal Assent and be proclaimed into force.

"The Senate's passing of Bill C-218 is an historic moment for Canada as it will legalize single event sports betting," said theScore Chairman and CEO, John Levy. "We thank MP Kevin Waugh and Senators David Wells and Brent Cotter for championing this Bill, which garnered strong all-party support through both the House of Commons and Senate. The passing of this important legislation allows theScore, along with our fellow stakeholders, to collectively usher in a robust industry that will drive business, technology innovation, employment and economic growth while providing a safe and trusted environment in which Canadians can wager on sports.

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