One of the most captivating things about a niche market is that it inevitably moves in one of two directions. It either plateaus and then makes way for the next new market, or it pioneers the industry in such a way that it has people in the industry talking and adjusting to its new modus operandi. Professional video gaming has been around for over a decade and continues to scalp a more significant chunk of the market annually. In many ways, cryptocurrency has done the same thing, slowly working in the background and developing a keen, respectable audience. Here, we will explore unique betting opportunities in professional video gaming.
Making The Breakthrough – From Niche To Mainstream
The end goal of any new niche market is to gain enough respect and visibility amongst the more traditional elements and their more established counterparts. While cryptocurrency might seem like it’s still in its primitive stages, the fact is that many cryptocurrency gambling companies have already established solid markets in a whole host of gambling niches. Professional video gaming could potentially appear to be a niche market. Still, when you crunch the numbers and see that the industry is worth hundreds of millions of dollars, it is hardly a minnow. Yes, compared to classic casino gaming and sportsbooks, it might be. Still, eSports has brought in such significant investment and captivated audiences across the globe that you could make a strong case that it has arrived in the mainstream already.
Niche Betting Opportunities
So while the industry itself might have already gained recognition, cryptocurrency eSports gambling is still a small sector of the gambling world. By combining a new payment and a new market, gambling operators have taken a gamble themselves, which they hope will pay dividends within the next few years as more people climb on board with this fresh idea in iGaming. Cryptocurrency gambling companies are exploring eSports markets in more depth, and most providers facilitating this betting line are beginning to see increased action.
You can bet on Counter-Strike 2 matches with crypto at Thunderpick and see the colossal range of markets already available within this crypto sports niche. Alongside Counter-Strike 2, a host of other eSports crypto markets are beginning to experience growth, and while it might be the norm in the few years, it’s still very much a niche betting opportunity.
Room For Expansion?
As we touched on in our introduction, there are two avenues that niche markets can go down. There’s either an avenue where they change the market landscape, or they’re relegated into obscurity, becoming a mere footnote of a multi-billion dollar behemoth of an industry. It doesn’t look like eSports crypto betting is in danger of being relegated to the bowels of history. While cryptocurrency markets are experiencing a general lack of activity and relative fear, it only takes one strong positive move or piece of news to propel it back into the mainstream again.
This could come in many forms, whether it is the world’s biggest asset management company applying for a Bitcoin ETF – or Elon Musk rebranding Twitter and allowing people to send cryptocurrency payments. This could sound like a bold plan for now, but within the space of a few months and a few big pieces of news, Bitcoin could begin to see an exponential increase in size, scope, and activity. Inevitably, when all these factors are thrown together, education and awareness about the product will also grow.
With any groundbreaking idea that starts to generate considerable profit, several variables provide a fruitful foundation. It’s very rarely just one catalyst. For instance, Amazon wouldn’t have been able to grow to the size it has without widespread, easy availability to the internet. Likewise, Apple faces a similar co-existence question. Without a solid Western economy, cheap manufacturing costs in the East, and widespread mass internet adoption – their meteoric rise to become the world’s biggest technology company will have been a far more arduous path.
Similarly, for crypto eSports niche markets to challenge traditional markets, a handful of factors will also need to work favorably. Education is one, and practical use is another. Classic arcade games ranging from retro games like Tetris to basketball shooter games, keep people entertained on their phones and mobile devices for hours. However, cryptocurrency and blockchain gaming is a further unexplored element creating further rumblings within the industry.
It boils down to whether cryptocurrency can leap from a fringe investment and payment method to a serious player within financial markets. Although Bitcoin is a trillion-dollar asset, it pails in comparison to the size of both the forex and stock markets. With more younger people investing their money in cryptocurrency and not traditional markets, this switch could happen organically over the next two decades.
This might be wishful thinking, though; there are many other hurdles it needs to jump in that time. Suppose cryptocurrency is able to find lucid and fair regulation in massive global economies like the United States. In that case, crypto sports niche markets and crypto gambling will see an explosion in activity.
What are your thoughts on exploring betting opportunities in video gaming? Is it something that you would be interested in? Let us know in the comments section below.