Online Gaming Gambling Is On The Rise
Across the world, millions of people love to gamble, especially on sports. The sports industry generates nearly 70% of global gambling revenue, which is more than what lotteries, poker, casinos, and other forms of gambling produce combined. Since 2017, the global sports betting market has surpassed $150 billion on a consistent basis.
However, times have changed for the year 2020 due to the COVID-19 pandemic. The pandemic has locked-down countless casinos, live venues, and sports altogether. In some states, such as New Jersey, wagers at sports bookmakers fell over 60%. Luckily, there is a flip side. Esports and online gambling are starting to become the next trend. While nobody can predict when the pandemic will slow down, the numbers support that online gameplay and gambling are a perfect match in heaven.
The Spring Shutdown
The spring is usually a sports fan’s favorite time of the year. Wagers, online betting, and free slots are booming at this time of year. Instead, the pandemic forced all professional sports franchises to have different thoughts. March features the start of baseball, the college basketball tournament, and the NBA and NHL seasons. Once the spring turns towards April and May, the Master’s Tournament, the Kentucky Derby, and NASCAR are all involved.
Out of nowhere, COVID-19 shut everything down and forced all professional, college, and high school sports to stop. While this forced everyone to stay home, a “new” sports franchise began to take over the households of the people. Esports has been around for quite some time. Before the pandemic even hit, the industry had surpassed $1 billion in 2019. For the avid gambler, this was the new way of life.Taken from Pixabay
In 2019, we saw the beginning of online gaming and gambling when League of Legends became the first championships to allow wagers. The first major competitive season that was highly wagered on was Counter-Strike: Global Offensive. Vegas allowed sportsbooks to take wagers on Counter-Strike after the NBA shut down. There is an entire league dedicated to this game and it has its own season.
Other games like Overwatch, Rocket League, and Call of Duty 2020 have taken off on platforms such as Twitch. Sports like NASCAR, MLB, and FIFA have kept fans engaged with players’ tournaments. The exposure for video game tournaments really erupted when streamers began to broadcast their live gaming. With the rise in viewership, the idea of making a profit with gambling began to sink into many people’s minds.
Gameco is trending upwards as a new form of online video game gambling. It was created by Video Game Gambling Machines (VGM) as a category of Video Game Gambling on casino floors. It provides the experience of playing video games and gambling at the same time. VGM provides arcade-style platforms that allow players to showcase their skills and take chances to secure a high payout. While online gaming gambling is on the rise, this platform gives users a chance to compete in their very own homes.