Global research agency 2CV and ProdegeMR has released new research finding that 44% of punters have reduced their casino gaming spend due to the COVID-19 pandemic. 84% of those agree that they have looked for new things to wager on. 31% of gamblers are actively considering wager on e-sports during the next three months. Meanwhile, more than 85% of non-e-sports bettors said they needed more information before starting betting.
It is estimated that e-sports betting revenue will reach $1.6 billion by 2023, while global research agency 2CV and ProdegeMR’s new research shows a growth spurt during the world health crisis. The latest figures from Indian bettors show a growing interest in e-sports gambling, with the spread of the coronavirus playing a key role accelerating this growth.
The research agency conducted a survey of 756 bettors who are between 18 and 54 years old, exploring their betting behavior and experiences with e-sports, and how the pandemic has affected both. The result of the survey showed that a majority of Indian adults still make bets every year, despite the fact that gambling is illegal or strictly regulated across the country,. With 59% of them betting on sports, the pandemic has had a deep impact on how and where they bet. 44% of bettors have reduced their wagering spend due to the pandemic, with 84% agreeing that they have looked for new things to wager on and 69% having already changed spend on other forms of betting.
Some of this change has caused an increase in e-sports betting, with 9% having bet on e-sports in the last three months – 62% of whom only began making bets on e-sports since the pandemic started. A further 31% of gamblers are considering betting on e-sports during the next three months.
In spite of these positive developments, the lack of awareness, lack of access, and murky regulations are among the biggest barriers to the adoption of e-sports betting in the country.
