In April 2021, football giant Florentino Perez infamously defended the proposed creation of a European Super League, saying "the football business model has evolved" and that "individuals must be able to bet on the results of matches without being monitored." In February 2022, the first-ever match of this new league was played. In 2019, esports betting had boomed from $8.7 billion in 2018 to $418 billion by 2027. The popularity of this emergent form of gambling has driven its shares up to a valuation over sports like golf, horse racing, and basketball.
Esports betting has expanded from a relatively niche market to a massive global one, with many variables that make it ripe for predictions on the outcomes of matches. Betting volume is driven by worldwide expansion, increased complexity, and accessibility, as well as popularizing the idea of esports betting among early adopters.
Traditional sports fans are starting to bet
more on esports by the day. However, there still need to be more credible. The
lack of regulation for esports betting and its unregulated nature makes it more
vulnerable to exploitation by nefarious elements. To ensure that bettors are
protected from bad actors, the growth and success of esports betting need to be
acknowledged and regulated. The amount of money wagered for traditional sports
is approaching $500 billion annually. Predicting the outcomes of these matches
is difficult due to the complexity, the unknown variables, and the sharp swings
in the odds. For esports, it's a different story. By analyzing match
statistics, player statistics, and team performance over time, machine learning
can predict matches with an average accuracy of 80%.
To read more information, check on Ohio online sports betting.
