At the moment, the cybersports industry is on the rise. Many players go on sportsbook websites to place a bet on their favorite esports team. But will this trend continue in the future? It is one of the main topics discussed in the numerous news articles about cybersports.
Max Sevostianov, Chief Commercial Officer at Betbazar, has answered the most frequently asked questions about the esports betting sector.
What are the main trends in the esports industry right now?
Right now, we see the growth of the esports sector. The esports market has generated around $1 billion in revenue this year. And, I suppose, by 2023, the profit will have been over $1.5 billion. What I see right now is that the esports and regular sports audiences differ in various ways.
What are the main differences between these two audiences?
For esports, it’s all about engaging content. You need to see the action, you need to know players, you need to know the mechanics of the games. And it’s all about the millennials. I have a son who’s sixteen years old and he plays CS: GO and Dota 2. For me, it is totally insane about Dota 2, it is really difficult to understand the mechanics of this game. But for millennials, it is simple and understandable. That’s why the esports audience likes to watch how the other skilled players handle these games. Sometimes they bet on esports not only to win but also to support their favorite team. Therefore, when you work with esports content, you should focus not only on the betting side but on marketing as well. You should provide engaging content, statistics, and more information about the players.
Could you tell our readers about the research work that is done before the esports sportsbook launch?
We see right now that most of the betting operators understand that esports is the future and it needs to be added to the sportsbook. But sometimes it’s quite challenging for the operators to differentiate the approach on how to attract this audience. If you have been working for around 10 years with the classic sportsbook and now you want to add esports – you will also have to attract a relevant audience.
Livestreaming of esports on Twitch is a huge trend right now. And, recently, there was a scandal involving this platform when a Twitch hack has revealed the exact earnings of the streamers. In your opinion, how will this affect live streaming on Twitch? Will this platform be as big as it was before the scandal, or maybe streamers will switch to YouTube?
From my perspective, the scandal in some way may have worked as an advertisement for the streamers. It could affect the popularity somehow, though I really doubt it did. The Twitch audience will not be harmed as it is mostly concentrated on esports and games compared to what YouTube offers.
What are the main risks of working with live streamers as affiliates?
The main risks in organizing sports or esports betting are related to integrity. We have to improve the integrity issues, and it can be done in different ways. For example, you can establish internal procedures that define how you work with players. You have to create not only internal facilities for such players but set some rules as well. I say responsible gaming is the key part of the whole betting industry. We should understand that gambling addiction is the main issue in this industry, as well as the negative perception of sports betting in general. That’s why we should focus on the entertainment, not on the betting itself. You have to support your team, but you need to have full information about the players, their rate, their employment background as well as players’ statistics.
How can a betting operator ensure compliance from the live streamer’s side? How can ops know that a streamer won’t pose a threat to the brand identity of the company?
You can’t be a hundred percent sure that the streamer is reliable. It’s all about the negotiation process and setting up the rules. Streamers should know the rules of the game when they work with a betting operator. In this case, it is best to reach an agreement on the ground, and it should be done in a legal form. In my opinion, we should use KPIs and special rules as well, in which we should establish violations.
Actually, it’s also a job to prepare the live streamer. As we live in a free world where everybody can say everything they want, it can be difficult sometimes. I suppose, in several years we’ll see how esports betting changes. And, of course, new rules will be implemented to help organize the work with the streamers properly.
Romania is on its way to officially recognizing esports as a sport. Do you believe that many European states will follow Romania’s example?
If we talk about esports, it can already be recognized as a sport. Most of the esports teams that participate in global esports tournaments are already professional players. They need to train accordingly to be able to win, they have couches, medical support as well as physical training. These players have to come up with tactics and various strategies to succeed.
Following the players fighting over $40 million prize sum on the DOTA2 The International tournaments it’s impossible not to call them real sportsmen.
Read more: Top Canadian Betting Platforms
