Several economies saw growth due to the sudden popularity of Bitcoin. Bitcoin had simultaneously created new opportunities in the shadow economy while thriving in the established paper-based economy.
Because of their anonymity, they were able to get a foothold in the emerging world of online gambling, lotteries, and gaming. The gambling business was revitalized, and casinos became the new famous economic center.
Esports and the sphere of cryptocurrency have been interacting for a while. Most lately, there has been a more significant acceleration in the blending of the two businesses. In the form of sponsorships, teams issuing their currencies, and even crypto games, cryptocurrency is becoming more related to esports.
This increasing crossover appears to be gaining traction among esports enthusiasts. According to a recent poll, the number of esports enthusiasts purchasing bitcoin has grown this year.
We have information on the cryptocurrencies that esports enthusiasts have used, in addition to studies showing that they are more inclined than the general population to purchase cryptocurrency. There are several cryptocurrencies, each with its advantages and disadvantages. According to the percentage of people who have used them, the popularity of cryptocurrencies is broken down as follows:
Bitcoin – 6%
Monero – 4%
Ethereum – 4%
Ripple – 3%
Binance Coin – 3%
Litecoin – 3%
Komodo – 3%
Monero’s position in second, tied with Ethereum, may come as a great surprise. The second-largest coin is by far Ethereum, but it doesn’t appear like esports enthusiasts are buying it. Others, like Bitcoin and Litecoin, are less surprising. Binance Coin’s inclusion also makes it logical, given that it’s required to purchase most of the lesser cap currencies.
Is the rise of esports betting set to continue?
Anyone wishing to see more cryptocurrency use in esports will find these results quite promising. It is promising for the growing number of teams and other businesses working on bitcoin projects and sponsorships because esports enthusiasts are more inclined to buy cryptocurrency than the general population. However, the association between people who prefer cryptocurrencies and those who find money confusing is also intriguing data.
Bets on CS: GO, Delta 2, League of Legends, and PUBG are already available at significant bookies, including Bet365, William Hill, and Pinnacle Sportsbook. GRID continues to demand new games and new datasets to support models, even if League of Legends is presently the only one to provide the same revenue margins as traditional sports. In Asia, where professional players earn significant scholarships and sponsorships, esports is already recognized as a legitimate sport in their own right, even though they are only getting started in Europe. If esports presently account for roughly 5% of sportsbook income in the UK, we project that in 10 years, the revenue split between esports and conventional sports will be closer to 50/50.