There is no doubt that 2020 was a defining moment for esports betting, but what does the future hold for the next generation of esports betting in 2021 and beyond?
It is a good question to ask about an industry that has seen rapid growth over the course of the past 12 months with the effects of Covid-19 on traditional betting markets meaning more bettors than ever are seeing esports gaming as a legitimate betting avenue.
In this article, we are going to look at three companies that are leading the race when it comes to esports betting for the next generation of customers and take a look back at some of their biggest moves in the market over the last 12 months or so.
Plus we will look at any plans each company has going forward into 2021 and beyond.
Let’s begin with Betway, one of the market leaders in esports betting with a name that is recognised throughout the world.
One of the foremost names in online sports and esports betting, Betway has been one of the most prominent sites to forward the cause of esports betting over the years. The company has invested in the industry in a number of different ways.
They have signed partnership deals in 2020 with BLAST Premier, for a third consecutive year and back in October, they agreed to a fresh long-term deal for live betting content with BetGenius.
However, Betway is perhaps best known for their sponsorship of a number of esports teams including the likes of Ninjas in Pyjamas and BIG, and in 2020, they further secured their move into the burgeoning South American esports market by sponsoring MiBR and the Peruvian Dota 2 team BeastCoast.
With over five major sponsorship deals announced in 2020 alone, plus a new CS:GO Showmatch announced ahead of the BLAST Premier in January, 2021 looks like being every bit as successful for Betway as the last few years have been.
Esports Entertainment Group (EEG)
Malta-based Esports Entertainment Group has had an excellent 2020. It has signed deals to acquire ggCircuit LLC and Helix eSports LLC back in October and in December also acquired Lucky Dino Gaming Limited.
The company has expanded into the United States on the back of the Helix eSports deal allowing them to become the official esports tournament provider for NHL side L.A. Kings and two MLS sides, LA Galaxy and the Philadelphia Union.
Moving forward, the company also expects to acquire the Esports Gaming League in January 2021.
Through its VIE.gg platform, it has generated $180 million in revenue and secured itself a 5% share of the $3.6 billion esports betting market.
Bitcoin-based esports betting website LuckBox was only launched back in 2019, but since then it has grown markedly over the past 12 months, riding on the back of the boom in esports betting over this period.
That boom saw LuckBox record far greater than expected revenue over that period, with a reported 500% increase in turnover. This combined with other deals, such as the partnership with the Paysafe Group, facilitated the company moving forward it’s floating on the TSX Venture Exchange in Toronto in December 2020.
Speaking in December CEO Quentin Martin confirmed that the company had managed to “lock up” around 75% of the new customers it gained through the pandemic, leading them to be named the EGR Operator Award “Rising Star” award for 2020.
Looking ahead to 2021 Mr. Martin commented:
“2021 will be a busy year for us. So far, almost all our growth has been organic and the potential for growth through marketing is huge. We’ll focus strongly on content marketing, affiliates, partnerships, influencers, and direct media and we’ll be strengthening our marketing team with key hires.”