Esports arena: Gaming 2.0 – defining the new era

With lockdowns and the cancellation of live sport in the past, the betting industry has undoubtedly changed and the start of a new demographic of bettor is emerging and it’s worth taking a look at where we have been to get an idea of where we are going.

Virtuals and slots were touted as the key frontrunners for 2020 when sport was cancelled, but it was the substitution of live events for other forms of ‘live’ action that took centre stage.

Live casino and live dealer proved dominant during that time, with the likes of BetGames and Evolution emerging as true pandemic-proof alternatives, offering a place for sports fans.

The second high performer was esports, and with the new generation now online, it is a mainstay complementing traditional sportsbook.

We’ve all heard plenty about the magical cross-sell alternatives to excite sports fans. Live proved itself in this regard, but a fast-paced, high-velocity offering takes priority now for the strongest growth opportunities.

Many new, but now core, customers had no prior experience of betting, meaning live casino as a long-term performer for new demographics of player is not guaranteed. Given we now have a generation raised on Xbox 360s and PS4s, this is where the true potential for engagement lies.

Sports betting will always be the gateway to the world of gaming, but this new demographic is from a world where everything comes instantly and waiting two hours for a bet on England versus Germany to payout just doesn’t sit well in an era of TikTok and YouTube shorts.

We’re always likely to see new customers arrive in the betting world by giving sports betting a try, but they tire of it fast as it’s just too slow.

Speed is of the essence

Esports and high-velocity betting games are proving key to converting such players. These new demographics no longer want to place a bet and wait two hours for it to be settled. Instead, it’s all about near-instant results and entertainment. Sportsbook-to-esports has been the highest crossover across the board this year.

Gauging from our operating partners, up to 70% of betting sports fans are now considering giving efootball a try, and that’s before we mention hockey, basketball and ice hockey.

Sports are not the only part of the esports offering – next up is the classic esports disciplines, such as Counter Strike (CS:GO) – that’s another cross-sell beyond the cross-sell, where we’re seeing sportsbook to esports, and then onto the more traditional video-game sectors.

Making sure the display of such products is seamless alongside the sportsbook offering is key here. Creating any kind of obstacle to this will result in unforgiving bounce rates as we compete with the speed of social media to retain attention.

This means you are dealing with a very demanding customer, and many players will refuse to negotiate any challenges, especially when it comes to KYC.

We’re now seeing casino identify this trend too, who are now looking to entice players over, which is testament to the now dominant area of esports in the betting world.

Slots with the right designs, such as those that resonate with the likes of CS:GO – using player favourite characters and topics – are being deployed to great effect.

But those in casino need to take heed of what is being demanded. Yes, CS:GO themes will certainly help, but the underlying structure needs to evolve too. They need to be able to offer cash-out fast, which enables players to place another bet quickly. Even more importantly, they need to merge the sports and live casino experience to provide instant action, rather than an elongated poker game.

It’s the new products that fit between esports or sports breaks that best suit this niche. BetGames, with its live dealer format, does a lot in this space – especially with the new products it has on offer. Sport Games TV and its next-gen darts is another, providing darts and the betting experience to go with it.

It’s all about the content that players can jump between – just as they do on Instagram, Netflix and TikTok. The same goes with betting. While these products are still relatively niche, and only coming to the forefront over the past year during events such as the Euros, it’s now an established vertical, and the pace of change isn’t going to slow.

These products need to sit within the sportsbook offering and be interchangeable between ‘traditional’ live sport and esports, not some niche tab buried down the sidebar.

Positioning esports in the right way is a lucrative proposition and, at the same time, a relatively inexpensive experiment to see if it works. The new era of gaming is here, and esports is set to be dominant over the next 10 years.

Alexandr Iaroshenko is CEO of Betbazar, dedicated to providing bespoke next-gen engagement solutions via its tech ecosystem. Specialising in sales and project management, Iaroshenko was instrumental in building Betgenius’s business development operations across the CIS for much of the previous decade before joining Betbazar as CEO in 2019. Since his appointment, he has built Betbazar into a global specialist as the industry’s matchmaker – delivering solutions globally to 25 tier-one clients, including bet365, Parimatch, BetVictor, Fortuna and William Hill.