The Esports Industry In 2023: Tournaments, Growth, Prospects
Everything is changing; by “everything,” we mean everything in the world, including esports. In a time when it can be challenging to keep up with some of the developments, this read attempts to bring you up to date on what’s new in the esports scene regarding the growth rate, innovative technology, and tournaments.
Esports is an online gaming aspect involving regular matches where players come together in person or online to compete for prize money. The multi-million-dollar industry is redefining the world of competitive sports by the day.
Esports events are usually streamed live, which is one of the factors that has contributed to the industry’s growth. This growth is also fuelled by the innovations that continue to integrate this sector with pop culture, one of which is mobile esports. So, perhaps, the question should be, “What Does The Esports Industry Have For Us In 2023?” Keep reading to find out.
Prospective Big Guns In The Esport World In 2023
Things get better in the esports industry every year, and this year will definitely not be the exception. The sudden surge in esports’ popularity placed it in the public eye, so now, brands, media houses, and investors are watching to see what changes in the industry this year.
As someone interested in esports, you should too, and here are the top aspects you should look out for.
Image credit – App Developer Magazine
This term refers to video game competitions that you can participate in on a mobile device such as your smartphone or a tablet. Traditional esports are usually played on consoles or PCs, and while this still has its place, mobile equivalents are becoming popular worldwide.
Many people own smartphones, and although they may also own PCs or gaming consoles, these devices are not as accessible as mobiles. There’s something beautiful about carrying out a task comfortably on your phone, which is what the concept of mobile esports plays on. Mobile esports mean more diverse tournament player rosters since more people can play.
The last few years have seen a boom in mobile esports. It is no surprise as mobile games rule the gaming industry as well. Playing on mobile devices is much easier because you only have to download the game and get a strong internet connection. This brings us to the subject of 5G.
Although already present in some, many countries are still working on making 5G available. There’s never been a better time to take this seriously. Esports is rising steadily, and the possible introduction of 5G in more countries this year will significantly help the mobile esports scene. It will provide fast, stable connections, making the games faster and easier to play.
These platforms undoubtedly play critical roles in driving esports engagement as they create means of viewing an excellent audience share. Many esports players even have their dedicated channels on streaming platforms where they make their esports matches available for live streaming.
Streaming platforms are effective because they let fans see their favorite players do what they do best: compete. It also allows players to engage with their viewers in the chat sections and develop connections. One of the popular streaming platforms in the esports industry is Twitch.
Streaming on Twitch is not only a means of helping viewers stay up to date with esports tournaments but also one of monetization. Streamers get to earn money from streaming, so more people join Twitch to tap into this. More streamers mean more coverage for esports, and higher viewership counts contribute to making esports popular.
Another important streaming platform is YouTube. Twitch and YouTube offer user-friendly interfaces, great content, and tools to help viewers navigate live streaming easily. These features keep users attached, and by this, more people can watch esports events.
Have you ever bet on traditional sports? Esports betting works in a very similar manner. To start betting on esports in 2023, you must know the game well, including the tournaments and other associated events. Growing just as fast as the esports industry, the esports betting market is set to reach a whopping $13 billion by 2025.
It’s not too late to get your share of that sweet money if you start this year. Legalizing esports betting sites in more regions is another encouraging factor 2023 is bringing. To start betting on esports betting sites, check out Tips.gg for helpful betting tips to aid your journey.
The 2023 esports betting market is divided into categories based on products and currencies. The major currencies esports bettors make use of our skins and real money. For products, the market mostly features fantasy esports like League of Legends, DOTA 2, and CS:GO.
Every platform into which blockchain technology has been integrated has undergone tremendous transformation. The loyalty programs can be made better, teams can be tokenized, and there’s a whole lot the technology does for the esports betting market.
It also provides a decentralized platform where stakeholders in the esports industry can connect. Blockchain has a transparency advantage. With smart contracts and secure cryptocurrency payments, esports players and developers can avoid the risk of not getting paid.
2023 has so much potential. Although only a few months in, even the esports tournaments that have already begun showing that the esports scene is prepared to do more than it ever has. Don’t miss out on any of these!