The term esports refers to organised video game competitions between professionals. Professional gamers, on the other hand, compete in video games against one another, often for money and prestige. These competitions can be as small as neighbourhood games or as large as stadium events with tens of thousands of spectators.
Newszoo’s 2018 Global Esports Market Report estimates that the esports industry will be worth nearly $1 billion in the coming year, an increase of 38% year-over-year. According to Newszoo. eSports will be watched by 427 million people worldwide by 2022, according to Newszoo.
Forget gold medals, Super Bowl rings, and other glitzy memorabilia. Esports champions of today are winning millions of dollars in prize money while being watched by fans all over the world.
Competitors known as broadcasters aren’t just teenagers in a dark room, they’re well-trained, driven game gurus capable of playing centre stage in front of a packed stadium that sold out almost as quickly as Taylor Swift’s concert.
Sponsors, coaches, teams, and practice schedules are all part of the deal for these athletes, just as they are in other leagues. They put in a lot of effort and come up with new ideas. They go through upsetting losses and exhilarating victories.
It has become more professional and widespread than ever before in the esports industry in the last few years.
This year, 557 million people around the world are expected to participate in esports. About 500 of them were well-paid professionals. The world of professional gaming has expanded from individual players to include prominently sponsored teams, and top studios like Epic Games host annual tournaments with lucrative prizes.