The esports and gaming industry is continuing to expand and grow in popularity, with the esports industry worth an estimated $3 billion following a report by Goldman Sachs. The rapid growth can be accounted for by a growing user base, but also the investment that has come into the industry, largely from crypto exchanges.
In 2021 TSM's naming rights were bought by FTX, Bitstamp the world's oldest crypto exchange sponsors Immortals, and Coinbase has partnered with Team Liquid, all of which have provided an influx of liquidity into the scene.
The relationship between crypto and esports is becoming synonymous with one another and has opened up a plethora of new verticals for businesses and consumers to benefit from.
One vertical that has started to gain significant traction is esports betting, with figures suggesting that the market value in 2022 will be worth $83.65 billion. Much of this market share is associated with betting via crypto, with Ethereum (ETH) being the chosen medium to bet with on many betting sites.
The benefits of betting using Ethereum or even crypto more broadly are multifaceted, but one of the main benefits is that users will link a crypto wallet to their betting account and be able to have instant deposits, withdrawals, and settlements across all betting services.
Moreover, many Ethereum betting sites are offering very lucrative signup bonuses to draw users into betting with Ethereum rather than traditional fiat, especially betting on esports. The link that crypto exchanges have with esports provides further incentives for companies to offer discounts as increases in adoption are a priority and benefit everyone involved.
Lastly, betting using crypto in most cases gives users cheaper fees as there isn't a need to use a third-party processor such as a bank, credit union, etc when cashing out your earnings. With crypto, everything is in one place.
The Ethereum betting market is continuing to grow in conjunction with the esports market. It will be interesting to watch the developments of the industry in the coming years and analyse the trends across the crypto-betting markets more broadly.
As mentioned earlier esports as an industry is now worth an estimated $3 billion, which is an impressive figure for an industry that is still in relative infancy. However, as a gamer, unless you make it to the absolute top of a game, it is difficult to earn enough money to forge a career. There is a disconnect occurring in esports which is limiting meritocracy.
For a holistic esports ecosystem to occur there needs to be a platform that gives a genuine pathway for those up-and-coming gamers to ease the transition to making it as fully-fledged professionals. League of Legends have tried to bridge this gap with the Academy League, but in many cases, veteran players are taking up the spots as they provide teams with a household name that can sell more merchandise, rather than promoting new talent.
This is where RoboApe (RBA) through its RoboApe eSports initiative is helping bridge the gap and give prospective gamers a chance to earn a fair wage while not necessarily performing at the highest level. RoboApe will host a multitude of tournaments across an array of games and will reward competitors fairly in its native token RBA.
Additionally, RoboApe will provide the opportunity for sponsorship and endorsements for athletes who are looking to make a career in esports and have shown skill and commitment to gaming. While RoboApe's tournaments will not be exclusive to those trying to make it in esports, with tournaments planned at various skill levels, its main aim is to increase meritocracy in the industry and put on tournaments that gamers will enjoy watching, while ensuring opponents are always fairly matched.
As such, expect to see RoboApe at the forefront of the gaming world in the near future and if you are interested in becoming part of the project their native coin RBA is available for purchasing soon in its presale.
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