Though the increasing popularity of esports, it is no surprise that the industry has continued to grow. According to Newzoo’s 2018 Global Esports Market Report, the global esports market was worth $905.6 million in 2017 and is expected to grow to $1.5 billion by 2020. This growth can be attributed to a number of factors, including the increasing number of people who are interested in watching esports and the growing number of countries that have legalized esports.
What should we need to know about the Esports growing Industries?
One of the biggest drivers of the growth of the esports industry has been the rise in viewership. According to Newzoo’s report, global viewership for esports grew by 41% in 2017, reaching 385 million people. This growth is expected to continue, with Newzoo predicting that global viewership will reach 557 million people by 2020. This increasing viewership can be attributed to a number of factors, including the increasing quality of esports tournaments and the growing number of people who are interested in watching esports.
Another factor that has contributed to the growth of the esports industry has been the legalization of esports events in more countries. According to the Global Esports Market Report, there are currently 83 countries that have legalized esports. The most recent country to legalize esports was Russia, with the Russian parliament passing a bill legalizing esports and establishing a framework for regulating esports tournaments at various levels in June 2017.
While the United States has not yet legalized esports, there has been progressing made in this area. In July 2017, the House of Representatives had passed a bill that would recognize professional competitive gaming as a sport and allow it to be regulated by the United States Department of Commerce. This bill is currently awaiting approval from the Senate.
The growth of the Esports industry is good news for both gamers and businesses. Gamers can look forward to evening more high-quality esports tournaments, while businesses can capitalize on the growing interest in esports by establishing themselves as leaders in the industry. As the esports industry continues to grow, it is sure to become an increasingly important part of the global economy.
How much can we earn through Esports?
Therefore, the Esports industry is growing rapidly and is worth an estimated $900 million. The global audience for Esports is expected to reach 380 million people this year. This number is expected to grow to $547 million by 2020.
There are many ways to earn money through Esports. Players can compete in tournaments for prize money. Teams can sell sponsorships and earn money through advertisements. There are also a number of companies that create events, streaming platforms or online stores that help Esports players earn a living. Let’s take a look at the top 10 biggest prize pools in Esports history:
- Dota 2 International 2017 – $24,687,919
The most recently concluded Dota 2 International tournament had the largest prize pool in Esports history. The total amount of money awarded was $24,687,919. The winning team, Team Liquid, took home a cool $10.8 million.
- The International 2016 – $20,770,460
The 2016 instalment of the Dota 2 International tournament had a prize pool of $20,770,460. The winning team, Wings Gaming, took home $9.1 million.
- League of Legends World Championship 2017 – $5,070,000
The LoL World Championship is the biggest and most prestigious event in the LoL Esports scene. This year’s tournament had a prize pool of $5,070,000. The winning team, Samsung Galaxy, took home $2.6 million.
- The International 2015 – $18,429,613
The Dota 2 International tournament reached new heights in terms of prize money in 2015. The total amount of money awarded was $18,429,613. The winning team, Evil Geniuses, took home $6.6 million.
- League of Legends World Championship 2016 – $5,000,000
The LoL World Championship was held in October 2016 and had a prize pool of $5,000,000. The winning team, SK Telecom T1, took home $1.8 million.
- The International 2014 – $10,923,950
The Dota 2 International tournament continued its streak of jaw-dropping prize pools in 2014. The total amount of money awarded was $10,923,950. The winning team, Newbee, took home $5 million.
- ELEAGUE Major: Boston 2018 – $1,000,000
The ELEAGUE Major: Boston 2018 was the first CS: GO Major tournament to feature a $1,000,000 prize pool. The winning team, Astralis, took home $500,000.
Therefore, the Esports industry is growing rapidly, and it can be expected that the prize pool of major events will continue to grow in the years to come. Players can earn a living by playing video games professionally, or they can make money through other Esports-related activities, such as streaming their play sessions. Nowadays, there are many ways available to make money in Esports. If you have any queries regarding the above context, just contact us through the comment section below.