Gambling Today: Esports Betting Keeps Climbing
When the COVID-19 shutdown put a halt to March Madness, along with the NBA, NHL and MLB, it also crippled the billion-dollar sports betting industry that thrives from those leagues. In the interim, bookmakers scrambled to keep the interest of sports bettors despite no live sports to wager on. The sports gambling industry was forced to get creative, and thus, wagering on esports arrived.
Sportsbooks began offering lines on video games such as “Call of Duty,” sports games like NBA 2K20, and even virtual NASCAR races. Additionally, Esports gamblers will all be happy to learn that Electronic Arts’ recently agreed to “multi-year” renewals of its exclusive licensing agreements with the NFL and NFL Players Association (NFLPA) for the continued production of its Madden NFL series.
“The expansion of this partnership is not only about the continued success of the Madden NFL franchise but also the creation of new avenues for our fans to connect with the sport they love,” said NFL Commissioner Roger Goodell.
“We have a shared vision to expand the fanbase of football through interactivity, and we’re thrilled to continue our strong partnership with EA SPORTS to bring this to life in more ways than ever,” said DeMaurice Smith, executive director of the NFLPA.
According to Action Network’s Darren Rovell, “EA’s five-year extension from 2021 to 2026 is worth $1.5 billion, with the split being “at least $1 billion to the NFL and $500 million to the players.”
EA announced that unique players grew 30% year over year, monthly average players reached an all-time high, and more than 330 million hours of the game have been played since Madden 2020 came out. Many of those numbers were clearly helped by the Coronavirus pandemic, with live sports on hold and much of the world quarantined inside their homes.
How Esports Betting Has Benefitted Sportsbooks
Esports betting has emerged as a solid offering for many sportsbooks. They have determined betting on video games is something that will continue, even when live sports return. Oddsmakers believe bettors can apply near identical handicapping strategies to virtual games as they can to real sporting events.
According to Yogonet, the industry has grown to the point where “esports gambling revenue is projected to double last year’s figures in 2020, going from $7 billion in 2019 to a projected $14 billion this year.”
In a recent CNBC interview with Jim Cramer, DraftKings CEO Jason Robbins expressed the tremendous growth on the company’s overall numbers:
“Esports was really small for us until, you know, about 2 months ago.”
“It’s been a huge growth area over the last couple months for us and [it’s] hard to say what it will look like once the traditional sports are back, but I think a lot of people are finding it fun.”
The Madden Cover Reverse Curse?
Over the years, a myth has developed that whoever graces the cover of the new version of the popular video game will endure either an injury-filled or terrible season. Some of the Madden cover athletes contributing to the “Madden Curse” include: Marshall Faulk (2003), Shaun Alexander (2007), Vince Young (2008) and Peyton Hillis (2012).
There was even concern when Kansas City Chiefs star quarterback Patrick Mahomes appeared on last year’s cover of Madden NFL ‘20. Mahomes suffered an ankle injury in October of 2019 against the Colts and missed several games with a dislocated knee cap. However, he’d go on to make a full recovery and lead the Chiefs to a victory over the 49ers in Super Bowl LIV with an MVP performance. Could last year’s MVP Lamar Jackson be next?
With all these factors continuing to add up, along with the rest of the sports world in limbo, Madden ‘20 has become the most successful title in Madden franchise history.
When Will Madden 21 Come Out?
Those looking forward to a June 1 Madden NFL ‘21 announcement were informed Sunday afternoon that the details have been postponed due to the unfortunate events currently affecting our country.
As major sporting events return, it will be interesting to see if esports wagering will keep its current momentum or if it will, once again, go back into the shadows.
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