Throughout the last few decades, we have witnessed a major global transformation in the field of technology. The scale of development is hard to describe with words as smart technology and gadgets are overtaking the world.
One particular area that is quickly shaping itself as a worldwide industry is gaming. Not long ago, telling someone that you are making money by playing computer games would have sounded like a joke. Today, eSports betting is on the rise, causing massive inflows of money into the industry. More people play computer games than ever before which attracts interest from many powerful investors.
Size of the industry
In 2019 it was announced that the size of the eSports industry had surpassed the worth of $1 billion. With such fast increasing numbers, new competitions are organized and more gamers get access to it. Competitive gaming is becoming more rewarding as well. In 2019, the prize pool for the DOTA 2 International championships stood at an astounding $34.3 million.
The growth of the industry is generated by different factors, including sponsorships, brand deals and of course online betting. Moreover, an increasing number of people donate funds to developers, wanting to see their favorite games further modified. ESports betting is becoming more and more popular and with the growing economy of competitive gaming, scams start to appear as well.
Obstacles with money transfers
Illegal gambling is well-known to eSports as the young industry did not have a chance to keep up with the skyrocketing demand. Not surprisingly, scamming became very common among online punters. Fake betting websites are widespread and represent a major issue within the industry.
Furthermore, the eSports viewer base is growing as well.