The sports betting market has transformed over the last decade. There’s been a raft of new ways to bet, including in-play markets, using smartphones or tablets, and alternate currencies. Given that Counter-Strike 2 (CS2) has risen to the top of the gaming mountain and is now one of the most popular professional video gaming markets, it’s spearheaded the recent revolution in eSports betting. We’ve broken down the three main reasons why.
1 – A Greater Acceptance Of Crypto Markets
Traditional betting markets have had it all their own way over the last 20 years; they have continued to grow year after year, exploring new markets and compounding the number of customers they serve.
As many of these companies established themselves in the global market before the rise of cryptocurrency as a viable payment option, many were nonplussed on providing a facility for crypto payments.
However, by the mid-2010s, eSports markets were driving much of the niche sports betting activity. With many of these markets spanning international borders and appealing to huge demographics of new users, many of whom don’t place bets on traditional sports, therein lay the opportunity for innovation and the rise of cryptocurrency betting.
Due to the game’s mechanics, those betting on CS2 use cryptocurrency to place their wagers. This has resulted in a broader acceptance of crypto in gaming circles and more acceptability and visibility in the broader world of sports betting. While it’s certainly not the only factor that’s resulted in the mass adoption of crypto markets, it’s contributed in a wholly positive manner.
#2 – The Implementation Of Live Streams
Live streaming and betting markets have been developing since the early 2010s, but they have been specific to sports or focussed on virtual adaptations. Professional video gaming has been a breakthrough sector, as it connects gaming fans directly with the players or eSports tournaments they want to watch, including CS2 tournaments or other games that have a substantial market
By breaking down this barrier and connecting with fans, the implementation of live streams took on a whole new meaning through live streaming. Websites like Twitch and YouTube became essential tools for new media, and they continue to play a pivotal role in how eSports betting companies market their new campaigns.
Although the wars between some of the big streaming platforms meant that there were some high-profile moves away from Twitch in the early part of this decade, for the most part, the implementation of live streams made it immeasurably easier for betting markets to advertise their odds in-play, align with streamers, and promote new ways to place wagers.
#3 – Highlighting The Demand For The Sector
Just taking a quick look at some of the highest-paid CS2 players over the last 12 months underpins the incredible demand for this market. Many of these teams have revenues in the millions of dollars, and just as traditional sports betting markets have shown us, betting markets will follow wherever there is such demand.
While eSports still clearly has a long way to go before it can get anywhere near the might of traditional betting markets such as football, pro video gaming is selling out arenas and has showcased just how much potential there is for markets that have branched away with it.
Sports betting would always emerge from it if the demand were big enough. However, the demand has also shown that there are plenty of lucrative careers for gamers who can develop an elite skillset and carve out a career in eSports.
Games that sit at the top of the gaming pyramid—whether it’s CS2, Dota, Valorant, or Call of Duty—have been able to move the industry to a collective new high. Anything with an audience big enough to generate a betting market has been able to do so.
Conclusion
It’d be wrong to suggest that CS2 has been the only game that has revolutionized the eSports betting market; analysts believe that the market has the potential to grow billions between now and 2028, and CS2 has made up one small part of that. It’s impressive how the game has taken the mantle from Call Of Duty – as it was odds-on to dominate the FPS market – especially those games that revolved around military strategy, equipment, and virtual terrain.
Gamers will argue that CS: Global Offensive was the game that did a lot of the heavy lifting and helped to establish the brand as a truly global, elite eSports event. While it definitely laid the foundation, the shift toward global betting markets and the rise of alternate payments in eSports betting, particularly Bitcoin, has meant that CS2 has been the game that has picked up the baton and revolutionized the betting market.
CS: GO revolutionized the eSports world, but the sequel has an even more substantial impact on how eSports betting markets have shaped up over the last couple of years.
