The e-sports betting has skyrocketed by 2,992% year-on-year over recent months thanks to the Coronavirus disease 2019 (COVID-19), according to the latest report by the UK Gambling Commission.
The report analyzed the impacts of the COVID-19 pandemic on the UK gambling operators, with the gross gambling yield for each sector of the industry, including e-sports. The figures showed that while other sectors of the gambling industry have face difficulties caused by the pandemic, e-sports betting has increased significantly.
According to the report, the gross gambling yield for e-sports betting had increased to £1,517,548 in March 2020, when the virus was broken out in Europe. Meanwhile, the figure was just £50,223 in the same month of last year. It has continuously jumped to £3,393,637 in April and £4,616,610 in May, the report showed.
From March 2019 to March 2020, the gross gambling yield for esports betting in the UK skyrocketed by 2,922%. It means that before the COVID-19 pandemic, the e-sports betting in the UK expanded rapidly. Notably, a massive 124% increase from March to April 2020 showed that the e-sports betting was more popular than betting on traditional sporting events on the disease.
Other sectors that do not depend on live events also recorded increases, with poker with an expansion of 50% y/y and 60% m/m in April 2020. However, the expansion was still smaller than the incredible rise by e-sports betting in the same period.
Meanwhile, the real event betting dropped significantly, with a 62% fall in gross gambling yield from March 2020 to April 2020.
Many e-sports betting operators such as Luckbox experienced significant growth on their platforms thanks to the COVID-19 pandemic. In the past few months, Luckbox was so successful that it is now looking to go public on the TSX Venture Exchange later this year.