In the past few weeks, the Nevada Gaming Control Board (GCB) approved wagers on four different esports tournaments, adding to the slowly growing betting options for competitive gaming. Adding wagering options is now critically important to casinos given their gambling halls have been closed due to the coronavirus pandemic, which has also forced the major sporting events shutdown across the world.
Esports, with a steadily growing audience, particularly in the age 18-34 demographic, offers an appealing alternative, but casinos are proceeding with caution.
Recent research from global consumer research agency 2CV and market researcher ProdegeMR has revealed that esports gambling revenue is set to double from $7 billion in 2019 to $14 billion worldwide in 2020 as gamblers seek new alternatives for betting during the sporting events shut down due to the COVID-19 crisis.