Esports’ Betting Future

    • DraftKings shares could be worth $100 if California legalizes sports betting.
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Along with table tennis and Belarusian soccer, esports provided sportsbook operators the ability to still draw some wagers during the early stages of the pandemic. While traditional sports are back up and running — and have created record-breaking wager amounts — esports betting looks like it will stick around. 

Consulting firm Eilers & Krejcik Gaming projects esports will account for 10% of the sports betting market by 2030. Global esports betting revenue could exceed $14 billion in 2020.

In the U.S., there are still regulatory roadblocks in betting on most esports competitions. Foggy league regulations and underage athletes are among the integrity issues that have kept most politicians focused solely on traditional sports betting.

Sports Betting Headlines:

  • Penn National Gaming CEO Jay Snowden said the Barstool Sportsbook app will be live in every legal state by next year.
  • A Credit Suisse analyst said DraftKings’ stock price could reach $100 if California legalizes sports betting — California represents 12% of the U.S. population. Just 18% of the nation has access to legal sports betting currently and DraftKings is trading at $51.
  • Iowa and Indiana both reported record wager amounts in September — $72.4 million and $207 million, respectively.