The competitive playing of video games ( “eSports”) is a fast-growing worldwide phenomenon that turns online gaming into a spectator sport. Esports refers to video games that are treated as professional sports, involving paid players, huge fans, sold-out arenas, sponsorships, and huge tournament payouts.
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The History of eSport
The first esports competition took place in 1972 at Stanford University and laid the foundations for today’s multi-billion dollar industry. The gathered students competed in the video game Spacewar.
Well-known news agencies and magazines began to report on the new, modern phenomenon, while TV shows broadcast competitions where participants tried to beat the highest scores of the arcade game. In 1980, 10,000 players were involved in esports in the United States.
The Presence of eSport
The evolution of eSport continues to grow in the growing gaming market. It is predicted that the revenues will exceed 2.3 billion dollars by 2021. It has developed the same kind of demand in terms of participation and viewing as traditional sports.
As a lucrative industry, it has allowed it to function like other professional sports leagues; players pay the operator in exchange for participation. Operators pay distributors in exchange for the right to broadcast games, and audiences in exchange for the right to watch. Esport is suitable for advertisers and partners that are contained through games.
Monetary Benefits
The monetary compensation in esports is comparable to traditional sports. The National Association of Basketball Players (USA) has 13 million for prizes, the Golf Masters has 11 million, and Esports has 24.7 million. Fifa has established its world cup of Esports – the eWorld Cup, where the 32 best FIFA18 Xbox and PlayStation players compete.
The Number of Players at the World Level
Approximately one-fifth of the world actively plays video games for at least an hour on average, and that number is growing. Generating billions of hours of gameplay and watching tens of millions of hours every day, esports fans participate in sports in three ways: playing, watching, and attending live events. While those outside the gaming community may not be aware of how intensely gamers and fans consume video games, the numbers are staggering.
Esports has blossomed from a hobby to a professional sport, with the industry attracting the attention of major corporations and the media industry.
Market Potential
The market potential is significant. While 55 million Americans watch the NFL each week, the Overwatch video game league already has 37 million players. Globally, esports players currently number 143 million, and according to research by the German banking group Berenberg, the number is expected to grow to 250 million in the next three years.
European consumers generated $22 billion in gaming software revenue in 2017, with an audience of 77 million, with 500% growth for media rights revenue in 2016-2020.
The Economic Benefits
The economic benefits of esports tournaments can be achieved through registration fees for gaming events, tickets, and sponsorships. Revenue from sales and tickets is money generated from merchandise sales and live tournaments.
There are different types of tournament organizers, profit and non-profit. Engaging the audience is the most important resource of the organizers for the success of the tournament, which is why it is necessary to find the right channels to involve a large part of the audience and players.
Players
Players are an essential resource for tournament organizers, part of a team that can be compared at the highest level to traditional sports teams. An equally important aspect of the tournament is the spectators and at the same time the most important resource for the organizers and the target group for market profitability.
Spectators can follow the event live or via live stream. A profitable thought for investors when considering esports, as well as traditional sports, is audience attendance and engagement. They are the primary target and group used to evaluate the success of the event.
Bitcoin-Based Poker
There are various and numerous games that you can play through eSports and online, the possibilities are various. Bitcoin-based poker has become more popular lately. There are several reasons why many players and enthusiasts are turning to this type of poker game.
One of the reasons is that this method is much safer, there is a possibility of immediate payment in any currency you want, the money can be converted, and all winnings are deposited within a few minutes and for some even within a few seconds. This is why a large number of players, both professionals and poker enthusiasts, decide to play this variant of poker that has taken the world by storm.
