New research suggests a 21.5% compounded annual growth rate will pump more than $5 Billion into the global esports market over the next seven years.The global esports market has experienced exponential growth over the past decade, transforming from niche competitions to a multi-billion dollar industry.
This surge in popularity is fueled by advancements in technology, increased accessibility, and a growing mainstream acceptance of competitive gaming. As a result, esports now boasts a diverse and expansive audience, drawing in both dedicated fans and major corporate sponsors worldwide. With more and more people gaining access to high-speed internet and digital devices, our global society is more connected than ever via social media and other digital platforms.
Streaming platforms like Twitch and YouTube Gaming have also helped stimulate a global audience for esports viewership, and betting platforms have taken notice., a Gen Z-focused online gambling operator, relies heavily on internet culture and esports viewership to attract new customers to its wagering platform.For one, it requires significant upfront expenditures to establish a competitive gaming infrastructure and organize large-scale events within it.
Concerns over addiction are always an elephant in the room when it comes to expanding any gaming or gambling vertical, or any source of entertainment for that matter. With the recent increase in, it's fair to wonder what the further proliferation of the esports market means for those wagering on the action.
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