A few years ago, gaming was meant only for rainy weekends or late-night hangouts. Things are different now.
Gaming is no longer just a pastime. It is a phenomenon that is growing at an exponential rate. It’s filling arenas and dominating streaming platforms, commanding the attention of millions.
In recent times, esports, or electronic sports, have gained traction. Millions of players, as well as spectators, are drawn towards it.
What’s driving its rapid growth? We’ll explore the key drivers here.
Esports leagues have taken gaming from casual fun to full-blown professional competition.
Just like the NBA or Premier League, these leagues have structured seasons, team rivalries, player drafts, and huge fan followings.
In 2024, League of Legends and Apex Legends ruled the roost during the early months. Other major competitions that kicked off at the beginning of 2024 include Rocket League, Tekken, PUBG Mobile, EAFC, and Counter-Strike 2.
These leagues operate worldwide, and so they bring together people from Asia, Europe, China, and beyond.
Esports is no longer a niche hobby. It has turned into a global cultural phenomenon.
What once was viewed as just games is now a billion-dollar industry recognized by mainstream media, big brands, and even governments. Just 2 years ago, the global esports market was valued at $1.72 billion. Experts now predict that it will reach $2.06 billion in the next 8 years.
Streaming platforms are to thank for the ever-growing fanbase of esports. Take League of Legends, for instance. Every year, it’s ranked among the best esports players in the world. It’s no wonder that people from all over the globe are League of Legends fans.
Of all countries, the League of Legends World Championships was followed the most in South Korea in 2023. About 31% of esports fans tuned into them in the past 12 months. Chile and China rounded out the top 3, with 29% and 23% of esports fans following them.
Governments, especially in Asia-Pacific (APAC) markets, are also investing in esports infrastructure. The China Ministry of Education, for example, recognizes esports as an official sport. South Korea, on the other hand, is actively promoting esports through dedicated leagues and venues.
More and more people are turning to staking in esports. Data shows that global esports staking will reach $5.1 billion by 2028. And by 2029, the industry can accommodate up to 100 million people.
Like traditional sports punting, fans can now place wagers on their favorite esports teams and players in games like League of Legends, Dota 2, and CS:GO.
Why the rise? Esports fans are incredibly passionate. Watching a high-stakes match is thrilling, but adding a small pick? That takes the excitement to a whole new level.
Further, the boom in the popularity of social sportsbooks has been a major driver of esports staking. Fans can use these platforms to place wagers, share insights, and engage in friendly competition with friends or like-minded enthusiasts.
Social sportsbooks gamify the speculating process, as they make it feel more interactive and approachable, especially for younger audiences.
There is a risk of addiction, however. And that is why it’s important to approach social sportsbooks responsibly. Rebet advises users to play in moderation and not to escape reality. It further recommends setting time limits by deciding the number of hours they should spend on the platform.
Unlike traditional sports, esports isn’t limited to a single genre or playstyle. Instead, it includes a vast array of games that cater to different skills, strategies, and fan interests.
Esports Insider notes that esports have different categories of games; each genre requires different skill sets.
Fighting games are one of the oldest genres in the esports world. These games require controllers like a console, not a mouse or keyboard. Mortal Kombat, Super Smash Bros, and Tekken are popular titles within this genre.
Multiplayer Online Battle Arena, or MOBA, is another genre. In MOBA, players select a champion from several characters and work together with their allies to defeat the opposing team in an arena. Three examples of MOBA include Dota 2, SMITE, and League of Legends.
Interestingly, esports has Sports Simulator as one genre. Here, players play matches linked to traditional sports, such as Ice Hockey and Basketball. FIFA is a classic example. It’s one of the oldest sports simulators that exists within this genre.
Esports is proof that passion and innovation can turn even the most niche hobbies into global sensations. What started as kids huddled around arcade machines has become a cultural powerhouse that is reshaping entertainment.
In the coming years, expect to see it become even more mainstream. Esports is already in the Olympics discussions, and virtual reality (VR) and augmented reality (AR) could take gaming to new heights.
In short, competitive sports gaming and esports are here to stay; they will only get bigger.
