eSports is enjoying immense popularity nowadays. The modern technologies support new ways of doing sports, so no wonder that this industry expected rapid growth. Many gaming enthusiasts are amazed by the eSports as a new source of entertainment. If you aren’t familiar with eSports, this post is for you. We explain a little about the background, the earnings, and the risks involved. Make sure that you don’t’ miss it!
What is eSports?
eSports stands for electronic sports, which is competitive video gaming that has cash as a final prize. Gamers compete in teams or individually. It is the same as traditional sports, as the players use their skills to compete for the top place in the specific sport. However, the difference is that it is performed through a video game.
A little about the history of eSports
Gaming was once considered to be only a hobby and a source of entertainment. It is believed that the first start was marked by the Space Invaders Championship in 1972.
In the 1990s, gaming experienced a drastic change and was no longer considered a hobby. It became an organized, professional sport.
During the ’00s, there were different tournament hosts. World Cyber Games and Electronic Sports World Cup were one of them, followed by the MLG. Nowadays, MLG is the leading host of eSports tournaments.
Today, the eSports industry is quite profitable. It is expected that it reached a revenue of $1 billion. The Dota and Fortnite World Cup in 2019 both had over $30 million worth of prizes.
At only 16 years, Kyle won a staggering prize of winning $3 million. He is a professional Fortnite gamer that marked a world record in the industry. This is the highest prize in the history of eSports won by a single player.
The rapid growth of the eSports market
The total revenue for 2019 came to a surprising $1 billion. A significant percentage of the income comes from sponsorships. This won’t sound surprising if you know that some influential companies took part in sponsoring the tournaments. Some of the brands are Audi, T-Mobile, and Red Bull.
More than 40% of the revenue comes from media rights. This was the only way to reach the young audience of eSports, so companies invested in exposure. Young people aged between 18 and 25 followed the broadcasting of eSports events, so they ignored other media. They couldn’t reach this target audience with traditional media. For now, there are 450 million total viewers, but the number is expected to rise in the near future.
Why is eSports so popular?
Sites like https://www.cherrycasino.com/ja/ allow you to play and compete with others. However, eSports is quite different than just playing online. When we say different, we don’t refer to the high prices in cash.
Gamers love to compete and show off their skills. They don’t only want to play for fun, but also for achieving recognition and good results.
Another great advantage is that eSports is convenient. You can play from the comfort of your own home against opponents from all over the world. Organizing this type of event in a physical location would be very difficult. The logistic process would be so long, compared to playing from the comfort of your own home.
The pandemic has made eSports so famous due to these reasons. Everyone can play from their home and respect the social distance rules. After this, it is expected that the eSports industry will become even more popular. And let’s not forget that many people like to watch these competitions, without participating.