Esports betting news constantly reports about the exponential growth of this industry sector. Even those betting operators, which are focused on traditional sports, start considering the opportunity to add esports to their offer.
Marek Suchar, Managing Director of Oddin.gg, has explained how operators can profit from the esports betting sector and what obstacles they can face.
Marek, is it right to say that esports betting has rapid growth nowadays?
Absolutely. Esports betting is by far the fastest-growing vertical in the betting industry. This trend will continue since esports bettors are considerably younger than traditional sports punters. Our data confirm that the average esports bettor is only 25 years old, while the rest of the sports bettors range between 32 and 36 years old. The younger generation loves esports, and as they keep getting older, the esports betting share in the industry can only grow and grow, eventually challenging the top traditional sports.
What are the main ways for operators to generate revenue from esports?
The esports audience doesn’t engage with games of chance, such as slots. Instead, the main revenue comes from betting. To be more specific, 80% of the revenue is generated by live betting, where the users can engage with live matches.
But, it is not so simple. First of all, you have to consider that the esports audience is different. They’re a new generation that has different values. For example, as they grow using Netflix or Twitch, they are used to content on-demand. This means they value freedom of choice, and they do not like to wait at all.
This should be translated into your esports live betting offering. If an operator wants to generate revenue from esports, it should offer multiple options to bet on. Then, it must make sure the odds are available to bet most of the time. Users won’t stare at suspended odds.
What should esports betting operators offer customers to retain them?
Younger generations are very demanding. If you want to retain them, you must be very careful about your product. I already mentioned key factors such as live betting markets and how often odds are suspended. However, it doesn’t end there. Another request from esports users is live streaming, so they can watch the matches while they bet.
Also, deep coverage of esports matches will allow them to bet on multiple titles and tournaments. The product should be wrapped up in an esports-centric design that understands younger audiences’ user experience. One crucial aspect is simplicity. The product must be easy to use as many esports bettors are actually first-time bettors.
Another important aspect to retain esports bettors is communication. The younger generations have a different vocabulary. They value authenticity the most, and this should be part of your strategy. Use their own language, including memes, GIFs, or funny videos. Interact with the community and make them feel part of the brand. This way, they will feel identified with your brand and will eventually stay.