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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.
In reality, the first esports event was held in 1972, when Stamford University students competed against one another in the game Spacewar!
As many as 10,000 people attended the Space Invaders Championship of 1982, the first truly competitive video game tournament.
Players were more interested in beating each other’s high scores rather than participating in tournaments during this time period.
Esports began to take off in the 1990s as gaming became increasingly popular, with companies like Nintendo and Sega holding professional gaming tournaments. People were no longer just playing for kudos, but for $15,000 jackpots, and it was at this point that money started to play a role in professional gaming.
Identifying the world’s best eSports teams is difficult due to the fact that some are part of larger corporations that compete in multiple games. For example, Team Liquid participates in 24 games, earning a total of $2,250 and $22 million in each sport.
Clearly, these teams are more than just competitors in gaming competitions. Having amassed a following of 10s of millions of followers across all platforms, they are now able to reap the benefits.
It’s hard to believe that the Faze clan, which didn’t make the list in 2018, has risen to a current estimated value of $35 million. Because of their massive fanbase, they have become content-creation machines.
Most of the teams on this list have grown by more than 50%, which is a striking illustration of how rapidly the esports industry is expanding right now.
Investors from around the world are keeping an eye on the sport’s growth, and it will be interesting to see where it goes in the future.
Despite the fact that esports players aren’t playing on astroturf end zones or shooting hoops from shiny basketball courts, they’re more like traditional athletes than you might think. As with baseball players, they put in a significant amount of time every day honing their skills individually and collectively.
Esports broadcasters study the strategies of other teams and develop plays and methodologies to defeat them, just as hockey players might look at video of their opponents’ previous games.
Professional athletes, including the best esports players, are recognised by the law. The amount of practice, skill, and teamwork required to compete in high-stakes gaming tournaments certainly justify the elite status of these gamers.
The benefits of being recognised as a professional athlete are innumerable, including reduced taxes and easier access to visas.
A look at the viewership figures shows that some eSports games have become so popular that they are even beating out traditional sports. A good example of this is Tiger Woods, who took home $3 million after winning golf’s most illustrious trophy, the Masters, in 2019. The sport has been around for a long time.
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