A recent report from the UK Gambling Commission shows that esports betting has gotten a big boost during the lockdown. According to UKGC’s survey, esports experienced a surprising year-on-year increase of 2992%.
UKGC data, collected from the biggest operators and covering approximately 80% of the online gambling market, revealed the gross gambling yield (GGY) for each different sector of the industry, with esports listed as one of the categories. In March 2019, the UK betting operators generated £50,000 in revenue, and just a year later, in May 2020 when the lockdown was in full swing, they generated £4.6 million, which was around 4% of the entire betting revenue.
However, even before the lockdown, esports was showing great potential as a new betting category as the year-on-year increase from March 2019 to March 2020 was an incredible 2922%. Esports also noted an astonishing 124% increase from March 2020 to April 2020.
For many esports insiders, this esports boom is no surprise as this activity allows teams to play without being physically close and it is also a form of social event that frequently takes place online.