The pace and outlook for cybersport

The year 2021 saw increased interest in cybersports, with the market valued at an incredible $1.08 billion, one and a half times what it was in 2020. Come 2022 promises to keep the growth trend going. Some analysts say the global total could reach $1.62 bn in the not-too-distant year 2024. But such results can only be achieved by hard work. Consider a few areas where it might be appropriate to focus efforts today.

Increased investment from celebrities

Advertising and sponsorship have always helped keep eSports afloat. Last year they added $641 million to the virtual sports industry. The greater the investment, the greater the return. It is important to continue to involve celebrities who can not only bring in large sums of money, but also to popularise the contributions and motivate smaller investors to pay attention to cybersport. The market remains high profile in the mainstream media and should be taken advantage of. Global stars such as boxer Mike Tyson, basketball player O’Neil, and young rich rapper Drake have invested before.

The enticement of representatives from radically different fields

The growth of turnover in various segments of sports is attracting investment from services from very different arenas, not close to the sports industry. Amazon and other streaming services will not be able to be indifferent to sports. While live sports games are behind the paywall for now, the rush of interest towards virtual sports would be justified. This segment has begun to dominate too actively; it is illogical to miss such opportunities.

Successful examples of entry into the non-typical sector reinforce the belief in the positive prospects of such maneuvers. The 2019 League of Legends World Cup surprised with a stylish trophy design by world-renowned Louis Vuitton.

Stimulating user interest wisely

All energies cannot be concentrated solely on reaching out to external audiences. Stimulating users and increasing their engagement also deserves separate emphases. Motivational gifts, loyalty programmes and other tools at the disposal of eSports operators can have a big impact on the overall industry backdrop. Such bonuses have been enough to make DraftKings one of the most prominent platforms in the fantasy segment.

It took DFS nine years to transform itself into a multi-product casino (and the bookmaker platform is also there). Michael Jordan and a number of other high-profile investors helped the site grow through their personal popularity. But in addition the site used promo codes to motivate newcomers to get familiar with the platform, and then to return thanks to the interest generated. An increase in such effective traffic would fuel not just one site, but the entire eSports industry.

A surge in the market is objectively gratifying, but over-emotionalism can lead to unnecessary relaxation and loss of ground gained. Continued hard work will help to maintain the current level and achieve new heights, surpassing analysts’ forecasts.