Home » The Huge Impact Of Esports On The Global Economy Explained

The Huge Impact Of Esports On The Global Economy Explained

Who would have thought that eSports would grow as it has over the last decade? It has developed a number of investors and sponsors. Making it one of the fastest-growing markets on the planet. It was thought eSports was more of a fringe pastime or hobby, but it has become a vast spectacle watched by millions. In fact, if you are lucky enough to win one of the big tournaments in the eSporting calendars, there is a prize pool of a mammoth 25 million dollars. This is more than many popular mainstream sports, such as tennis, golf, and basketball.

The fact that several eSports organizations are on the stock exchange tells you this is a serious player in the gaming industry. The fact is eSports are competitive gaming, and the revenues are projected to make upwards of $1 billion. You will find betting markets and odds at pretty much every casino like a new one Mr Bet. You have to remember that the gaming industry is by far the largest entertainment business on earth, so eSports is part of that, which makes it a massive business.

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What The Future Looks Like in eSports?

As far as viewership in 2019, there were upwards of over 400 million people tuning in to watch eSports. In 2019 the eSports economy reached over $1 billion, with a third of this money coming from the US. The rapid growth of this economy is projected to be close to $2 billion this year. As this industry keeps growing, many investors are buying and trying to make eSports teams. They want to compete in the official eSports tournaments where there are millions of dollars on the line. There are so many amazing eSports games to choose from; the selection is impressive.

Impressive Gaming Choice

Gamers have the option of playing eSports like traditional sports; there is the FIFA series of games. If you are interested in MotoGP, there are eSports championships. Some of the most played and liked games are League Of Legends. In this game, you can expect millions of dollars in the prize pool. The rate of growth for eSports is faster than any other sport. You have to remember that through the COVID-19 pandemic, it was the only sport that could continue. This is because the eSports champ could play in his home while his competitor was across the planet, and people tuned in to watch it.

Big Name Investors

There have been some huge names who have seen the growth in the eSports industry and have invested. These include names like David Beckham, Shaquille O’Neal, and Michael Jordan. These celebrities understand the direction eSports is heading and want to be part of the journey. When we look at Australia, the growth there is also amazing. It is projected that it will hit $16 million in the year 2025. There are now over 1,000 professional eSport players in Australia, and some earn huge amounts of money.

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Buying Now is a Smart Move

It has been taken seriously in Australia, as universities now allow students to participate in eSports. Over 14 universities have created eSports areas where students can play. The dream for many in the eSports industry is to be part of the Olympic Games. It may be a young sport, but its growth tells you it will be a massive player in the next few years. Buying an eSports team now can be like buying the Chicago Bulls at a reasonable price, and in the future, the franchise will be worth billions.