Global Gaming Industry Worth Over $150 Billion with Worldwide Gamers Exceeding 2.7 Billion
Nov 16, 2021, 09:00 ET
PALM BEACH, Fla., Nov. 16, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The global gaming industry is one of the industries that has grown during the global pandemic. Even before the coronavirus helped propel the iGaming sector, it was on very stable ground and growing from year to year. Primarily popular among bettors around 35 years and younger, eSports betting is a trend that has yet to see its peak. An article by My Poker Coaching (an industry insider) looked at the industry and said that as Generation Z (born between 1997 and 2012) is getting older, the spread of eSports and betting activities will only continue. The article added: "The excitement and uniqueness of the genre attract a growing number of bettors, especially among the up-and-coming generation. Betting on eSports events and specific games brings up an entirely new dynamic we've never seen in traditional betting. Today, eSports betting seems like a part of the large industry that's here to stay. But, not so long ago, it looked like a passing trend in the betting market. In the early 2000s, eSports started to garner wider attention. At that time, the only form of betting that was available was betting on skins. This form of betting was the prevalent option for close to a decade and a half. Around 2014 and 2015, some online betting sites started offering eSports betting markets to their customers. At that time, only a handful of the most popular video games were available to bet on. The number of markets for the games was limited, so the bettors didn't have much flexibility compared to traditional betting markets. By late 2017, betting on skins was almost completely banned to prevent underage players from wagering real money. At that time, the eSports betting market experienced another massive bump in popularity. This was a significant step forward for the eSports betting niche. It was the turning point at which the industry moved entirely out of the legal gray area into the real world of regulated betting. With betting markets hosted on real licensed and regulated sites, eSports bettors could finally do their thing in a safe environment…" Active companies in the markets today include: Esports Technologies (NASDAQ: EBET), Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) (TSX:EGLX), Esports Entertainment Group, Inc. (NASDAQ: GMBL), DraftKings Inc. (NASDAQ: DKNG), Melco Resorts & Entertainment Limited (NASDAQ: MLCO).
The article continued: "All of this has contributed to eSports becoming a fully-fledged part of the betting industry. Nowadays, you can find eSports betting markets on nearly every online betting site you visit. There are promotions, special events, and bonuses exclusively for those who follow and bet on eSports competitions. The global gaming industry is worth well over $150 billion. Even more impressively, the estimated number of gamers worldwide tops 2.7 billion. With so many gaming fans worldwide, the rise of eSports seems like an unstoppable certainty that will take over the entire betting industry. Many sportsbooks have already partnered up with eSports teams to promote betting on video games. With all of this in mind, this type of betting is undoubtedly a hobby of the generations to come, and it is here to stay…"
Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Wins Esport Product of the Year at 2021 Europe Gaming Awards - Recognized for Its Innovative Use of Technology in Esports Wagering - Esports Technologies, a leading global provider of advanced esports wagering products and technologies, has won the 2021 Esport Product of the Year at SiGMA Europe's prestigious Europe Gaming Awards. The awards ceremony, held in conjunction with the SiGMA Europe conference and expo, took place at the Hilton Malta Conference Centre in St. Julian's on November 15. On hand for the evening gala were many of the most notable brands in the gaming sector, including William Hill, Bet365, Pinnacle, LeoVegas and PokerStars.
Esports Technologies was recognized for its groundbreaking achievements in 2021, including a patent-pending real-time odds modeling and simulation system that instantly generates odds and betting markets for esports betting use. Esports Technologies also devised a patent-pending live streaming wagering technology, which allows sports and esports fans to wager in real time across streaming platforms. Several other proprietary technologies are in development.
Joining Esports Technologies as finalists in the Esport Product of the Year category were Betfair, GGBet, and other top brands.
Aaron Speach, CEO, Esports Technologies, said, "We are so honored to accept the award for Esport Product of the Year. This is a testament to the relentless efforts of our entire team. On behalf of everyone at Esports Technologies, I want to thank the organizers of SiGMA Europe and the Europe Gaming Awards. It's been an unbelievable year, and we are just getting started." CONTINUED… READ THIS AND MORE NEWS FOR EBET BY VISITING: https://esportstechnologies.com/news/
In other technology recent news of interest:
Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) (TSX:EGLX), a media and content platform for video game and esports fans to connect and engage, recently announced that its CEO, Adrian Montgomery, will participate in the RBC Capital Markets Technology, Internet, Media and Telecom Conference, held virtually from November 16-17, 2021.
Montgomery will participate in a fireside chat with RBC Managing Director of Global Research for Telecommunications & Media, Drew McReynolds, on November 16th, 2021 from 3:30 - 3:50 ET.
Access to a live audio webcast of the discussion (listen-only) will be made available on the "Investor" page of Enthusiast Gaming's website. A replay of the webcast will be made available on the website following the fireside chat.
Esports Entertainment Group, Inc. (NASDAQ: GMBL) recently announced that its transactional waiver for the New Jersey Division of Gaming Enforcement (or "DGE") has been submitted. Once approved, it would allow the Company to begin betting operations in the Garden State.
"New Jersey sports betting reported the first $1 billion handle in September alone and it shows no signs of slowing down anytime soon," said Grant Johnson, CEO of Esports Entertainment Group. "The transactional waiver is one of the final steps in us being able to go live and bring the exciting world of esports betting to the state of New Jersey."
DraftKings Inc. (NASDAQ: DKNG) and Golden Nugget Casino Lake Charles recently jointly announced the launch of a new retail sportsbook slated to open on November 10, 2021, at 2pm at Golden Nugget Casino Lake Charles, pending licensure and regulatory approvals. Louisiana sports fans age 21 and over will be able to place wagers on a variety of betting markets across professional, collegiate, and other sports leagues at the DraftKings Sportsbook located inside the Golden Nugget Casino Lake Charles.
DraftKings will be launching its online sportsbook in Louisiana at a later date, pending aforementioned approvals. Once live, sports bettors in the state will be able to place bets online and via their mobile devices on the DraftKings Sportsbook app in permitted parishes.
Melco Resorts & Entertainment Limited (NASDAQ: MLCO), a leading global developer, owner and operator of integrated resort facilities, recently held a topping out ceremony and unveiled the design concept for the highly anticipated Studio City Phase 2, scheduled to complete before end of December 2022. The Ceremony was hosted by Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment, together with representatives from Melco to celebrate the new start of Studio City.
Designed by renowned international architecture firm Zaha Hadid Architects, the USD 1.3 billion Studio City Phase 2 complex further complements the integrated resort's existing Phase 1, which features a modern interpretation of the rich detailing, bold geometries and craftsmanship of the Art Deco period. The thrilling new entertainment and leisure destination will offer one of Asia's largest indoor & outdoor water parks, a six-screen Cineplex comprising two regular houses and four VIP suites, as well as a state-of-the-art MICE space.
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