The ever evolving sphere of sports and technology has been growing at an unprecedented pace, and two of the most significant emerging markets are e-sports and sports betting. eSports, or competitive video gaming, has exploded in popularity in recent years, and sports betting has become increasingly accessible with the advent of online sports books and mobile apps. Let's dive into each market and explore some of the companies that are leading the way.
eSports is defined as organized competitive video gaming. It primarily involves teams competing against each other in tournaments for a cash prize. Functionally, it's the same as traditional sports. The global eSports market is estimated to be worth over $1 billion, and this figure is expected to double by 2023.
eFuse is a rapidly emerging player in the e-sports industry, dedicated to creating a professional network for eSports players, content creators, and organizations. By providing a range of tools and services, the platform helps eSports professionals build their careers and connect with others in the industry. With features such as job boards, networking events, and portfolio builders, eFuse has already gained significant traction among eSports professionals and has secured partnerships with major eSports organizations. As eSports continues to grow in popularity, platforms like eFuse are becoming increasingly crucial in helping players and creators navigate the industry and succeed in their careers.
PrizePicks is a revolutionary player in the eSports industry, while also offering a distinctive take on sports betting. Instead of traditional game outcome betting, PrizePicks allows users to select fantasy player props for popular games such as League of Legends, Call of Duty, and Fortnite, and create customized prop picks. This unique approach has captured the attention of eSports fans who appreciate the platform's interactive and social aspects. Additionally, PrizePicks has established partnerships with major eSports organizations, making it a leading player in the eSports betting market. As eSports continues to gain momentum, PrizePicks is poised to become an even more significant player in this space.
Sports Betting has undergone a significant transformation with the advent of online sportsbooks and mobile betting apps, making it more accessible than ever before. In the United States, for example, the Supreme Court struck down a federal ban on sports betting in 2018, which had previously been allowed only in a few states. Since then, many states have passed laws legalizing it with regulatory frameworks in place to oversee everything.
