Traditional gambling on sports like football, basketball, and baseball has been popular for centuries. But in recent years, a new form of gambling has taken the world by storm: betting on esports.

Esports, or competitive video gaming, has grown exponentially in popularity in recent years. And as the audience for esports has grown, so too has the amount of money being bet on esports competitions.

According to a report from Eilers & Krejcik Gaming, a research firm that tracks the gambling industry, an estimated $12 billion was bet on esports in 2018. That’s up from just $2.3 billion in 2016.

The vast majority of that betting is happening in Asia, where esports has a massive following. But the North American market is also starting to take off, with more and more people placing bets on esports matches.

The popularity of betting on esports is steadily rising, while the popularity of traditional sports betting Ohio appears to be waning. This is evident in the number of people placing bets on esports events and the amount of money being wagered on these events.

There are a number of reasons for this trend. First, esports offers a more immersive and exciting experience than traditional sports. This is because esports are played by professional gamers who are often extremely skilled at their game. As a result, spectators can get a much better sense of the action and the strategies being used.

Second, betting on esports is generally much easier than betting on traditional sports. This is because there is a lot more information available about esports games and players. This makes it easier for bettors to make informed decisions about where to place their bets.

Thirdly, the prize pools for esports events are often much larger than those for traditional sports events. This means that more money will be made from betting on esports than from betting on traditional sports.

Fourthly, the internet and social media growth has made it easier for people to bet on esports. This is because there are now more platforms for people to place their bets and find information about the games.

Finally, a few large organizations are increasingly monopolizing the traditional sports industry. This has made it difficult for new players to break into the industry. In contrast, the esports industry is still relatively young and, therefore, more open to new entrants.

All of these factors will likely continue to drive the popularity of betting on esports. As more people discover the benefits of this type of betting, and as more money flows into the scene, the popularity of betting on esports will likely continue to rise.