Esports betting, fantasy contests gain attention with sports sidelined - Business Insider

Esports is garnering lots of attention from the sports-betting industry during the coronavirus pandemic.

Esports was expected to surpass $1 billion in revenue during 2020 with organizations like the Overwatch League embarking on international tours. But as the pandemic took hold, esports leagues responded by giving up their live arena events while keeping their seasons alive online.The US Supreme Court's 2018 decision to overturn a federal ban on sports betting was in the middle of bringing a boom to the industry when the pandemic began.

FanDuel and other sportsbooks offer daily competitions for "League of Legends" and other esports, allowing fans to build their own lineup of professional gamers and compete based on real match results. DraftKings has been offering fantasy contests based on professional "League of Legends" matches since 2015, and in March the platform expanded to include daily fantasy contests for "Counter-Strike Global Offensive.

FanDuel and DraftKings both have a history of sponsoring esports events, partnering with teams and specific events for advertising rights. Another competing fantasy sports platform, Monkey Knife Fight, announced a new marketing campaign that will use esports influencers to direct people to its daily esports contests with gaming videos on YouTube and Twitch.But offering betting on esports matches is very different from offering a fantasy contest.

Sports media is a massive industry, but esports relies on a host of community-organized sites to track news, results, and business dealings. Esports fans can even use community sites to gamble using in-game currency and items.

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