Ah video games, the ultimate source of endless fun for kids, teenagers, adults, basically anyone. The video game industry has become one of the biggest and best-positioned industries in entertainment lately. While some people might think of video games as just kid’s play, there is so much more to it, including vast amounts of money. As we’re getting ready to welcome 2021, what’s in store for an industry that amongst other things has become a novelty option for online betting fans? Grab a controller and let’s talk shop.
Understanding Just How Big This Industry Is
The video game industry is not at all kid’s play. Just in 2020 alone, as reported by Business Insider, the revenues collected by the video game industry, $179.7 billion, grew so much that it reportedly exceeded the sports and film industry combined. Yes, combined. Video game makers like Sony and Microsoft saw 2020 as a record breaking year regarding sales as millions of people worldwide because of the coronavirus pandemic have had to live through extended periods of time indoors, without their regular entertainment options available because of lockdowns. Just in the US alone it is estimated that four fifths of all consumers played at least one video game since the beginning of the pandemic.
With the pandemic in full swing and video games becoming the perfect companion for people all over having to stay at home of course the spending on games and consoles grew substantially as well. The launch of new gaming consoles like Sony’s Playstation 5 and Microsoft’s Xbox Series X during the holiday season has seen a massive outpour of clients wanting said consoles making them practically sold out everywhere where a console could be found. Games like Nintendo’s “Animal Crossing: New Horizons” saw 26 million copies of the game sold since its launch in late March up until the beginning of October 2020.
Esports Competitions, the New Kid in the Sports Block
Esports are one of the true driving forces behind the video game industry being the new giant in the entertainment business. Just like any other sports competitions, esports competitions draw millions of fans all over the world who tune in to see their favorite players face off against each other for video game supremacy. Gamers and gaming companies have been smart to see the effect their craft has and have on fans and have made their competitions one of the most popular sporting events in the calendar. Even top online sportsbooks have jumped into the bandwagon and offer options for their clients to wager on their favorite esports competitions.
Events like the Fortnite World Cup, where players compete for a prize pool of about $30 million, the FIFA eWorld Cup which is even broadcasted by TV channels in certain countries are some of the most popular tournaments for gamers and fans of all walks of life. Then we have the COD (Call of Duty) and Counter Strike Championships which are the crème de la crème of video gaming competitions with only the top gamers in the business allowed to participate and very generous monetary prizes and recognition are up for grabs. These are just a few of the most important esports events that fans are looking forward to in 2021, of course following the top security and health protocols.
2021 Is All About Online Strategies
Never has there been a better time to use online strategies to an advantage. Ideas like video game streaming, where professional players have a chance to be closer to their fans and create a stronger relationship which ultimately leads to more consumption from fans are something that should blow up even more in 2021. Video streaming service Twitch, a favorite between video gamers and video gaming companies to showcase what they do best on average, receives 2 billion live-stream viewers per hour. Not per year, month or even day, per hour. With social media platforms also putting their part into the video game industry being a global phenomenon 2021 looks like it can be another record-breaking year for the industry.