eSports Boom Fueling 300% Run in New IPO


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eSports is big business.

In fact, analysts at Newzoo believe global eSports revenues could hit $1.1 billion this year. They also believe the market could grow to 474 million in 2021, and to 920.3 million by 2024.

“The increased engagement will result in more revenue in the esports market. Newzoo anticipates revenues this year to come to just under US$1.1 billion, a 14.5 per cent increase on the US$947.1 million projected last year. Of this year’s US$1.1 billion revenue figure, US$833.6 million will come from media rights and sponsorship,” reports Sports Pro Media.

The best part – this isn’t a “here today, gone tomorrow” trend.

eSports interest has been rocketing higher for years. In 2012, for example, gamers spent about 1.3 billion hours watching eSports. By 2019, that was up to 6.6 billion. Better, according to Gaming Street, “eSports organizations are going to continue expanding their business operations and sources of revenue.”


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Better, major gaming companies are getting in on the boom – Electronic Arts, Take-Two Interactive, Activision, even Tencent just said it has high hopes for eSports. In fact, Tencent believes eSports could be comparable to the size and popularity of the NBA.

Newly Issued Shares of EBET up 300%

So it comes as no surprise that newly issued shares of eSports Technologies (EBET) are exploding out of the IPO gate. At the moment, it’s up 300% to $22.87 and running.

According to its press release, “Esports Technologies, Inc. is a technology company developing and operating platforms focused on esports and competitive gaming. We operate a licensed online gambling platform, gogawi.com, which is an esports/sportsbook focused on bettors located in Asia and Latin America.”

“We offer real money betting on esports events from around the world in a secure environment. We accept wagers on major esports titles including: Counter-Strike: GO, League of Legends, Dota 2, StarCraft 2, Rocket League, Rainbow Six, Warcraft 3, King of Glory and FIFA; as well as professional sports including the National Football League, National Basketball Association, Major League Baseball, soccer and more.”

 

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