Esports Industry Expected to Generate £1B by 2023
Key sources predict the Esports Industry Expected to Generate £1 billion by 2023, with £40 million of that coming from the UK. Statista, the leading market and consumer data provider, reports. This wave has been driven by Esports popularity, the emergence of professional teams and leagues, and government support.
Sure, that’s some serious dosh! But, aren’t you as curious as I am about what drives the Esports industry boom, particularly in the UK? Here are some of the real reasons why I believe the Esports industry is growing… If you haven’t already, be sure to read our latest article on Introduction to Esports and the Betting World.
Leading UK Esports Teams
The top Esports teams in the UK have won multiple championships and boast a significant and dedicated fan base. They also enjoy sponsorship from renowned brands such as Nike, Red Bull, and Coca-Cola.
Here are some of the top Esports teams in the UK:
- Excel Esports
- MNM Gaming
- Vexed Gaming
- London Royal Ravens
- London Spitfire
- Team Singularity
- Giants Gaming
- SK Gaming
These teams compete in a variety of Esports titles, including League of Legends, Counter-Strike: Global Offensive, Dota 2, Fortnite, and are now preparing for the anticipated released Counter-Strike 2. These teams have won numerous championships and have an ever-growing fan base. The success of these teams testifies to Esports’ growing popularity in the UK. Although the industry is still in its early stages, it has the potential to become a major force in the global entertainment industry. Not to mention, It’s a delight to watch!
Popular UK Esports Leagues
The UK is home to a thriving Esports scene, with popular leagues and tournaments. Here are some of the most popular UK Esports leagues:
UK League of Legends Championship Series (UKLC): The UKLC is the premier League of Legends league in the UK.
UK Rocket League Championship Series (RLCS): The RLCS is the premier Rocket League league in the UK.
UK Call of Duty League (CDL): The CDL is the premier Call of Duty league in the UK.
BLAST Premier has kickstarted its host city selection process for the 2023 global tournament season! ????????
From London to Copenhagen, Miami to São Paulo and Istanbul to Madrid…where will CS:GO take us next?
— BLAST (@BLASTEsports) April 25, 2022
These leagues provide a competitive platform for professional teams and up-and-coming players to showcase their skills. They also attract new fans to the sport. Esports is becoming increasingly popular in the UK, and these leagues are the main reason why.
Factors Driving Esports Growth
The rapid growth of the UK Esports industry can be attributed to a number of factors, including:
The increasing popularity of Esports. Esports is witnessing a surge in popularity, with over 3.5 million viewers in 2020 alone. This number is expected to rise in the coming years. In global viewership sources site 646 million as the new projections for 2023.
Professional teams and leagues are growing. The UK has experienced a notable increase in professional Esports teams and leagues. This growth is fueled by Esports’ rising popularity and sponsorships and investments availability.
Government support. The UK government has displayed growing support for the Esports industry. In 2020, the UK government announced a £1 million investment in the Esports sector. This investment has contributed to further industry growth and development.
The Future of the Esports Industry
The UK Esports industry set to rapidly expand in the coming years, with the factors driving this growth poised to persist. This will position the UK as a significant player in the global Esports market.
Esports Industry Nearing £1B Revenue Mark by 2023
The UK Esports industry is steadily generating £1 billion by 2023. This growth can be attributed to a number of factors, including:
The increasing popularity of Esports. Esports is witnessing a surge in popularity, with over 3.5 million fans in the UK in 2020. This number is expected to rise in the coming years.
Professional teams and leagues are growing. The UK has experienced a notable increase in professional Esports teams and leagues. This growth is fueled by esports’ rising popularity and the availability of sponsorships and investments.
Government support. The UK government has displayed growing support for the Esports industry. In 2020, the UK government announced a £1 million investment in esports. This investment supported a number of initiatives, including:
The creation of an esports academy to train the next generation of esports professionals.
The development of an esports research center to study esports’ economic and social impact.
Esports promotion to a wider audience through events and marketing campaigns.
Increased media coverage. Esports is receiving more and more media coverage, which helps raise awareness of the sport and attract new fans.
Improved infrastructure. The UK has invested in improving its Esports infrastructure, such as building new arenas and training facilities. This has made it easier for Esports teams and players to compete at a high level.
Job Creation and Economic Impact
The UK Esports industry creates job opportunities and contributes to economic growth. It is estimated to support over 10,000 jobs and contribute £500 million to the UK economy by 2023.
Positive Outlook for the Esports Industry
The outlook for the UK Esports industry is optimistic. Its rapid growth, job creation, and economic impact position it as a forerunner in the global Esports market.
BE RESPONSIBLE AND KNOW YOUR SOURCE:
At Best of Bets, we believe that education is the key to responsible betting. That’s why we offer a variety of resources to help our viewers learn about the different types of bets, the odds, and the risks involved. We also encourage our viewers to consult with financial advisors and other experts before making any bets.