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At Cooldown, our mission is to bring esports events to bars and let esports fans enjoy the best viewing parties with their friends. As part of the esports community we want everyone to understand what esports is about, so letu2019s take a look together at the concept, games played, money involved and much more! <br>
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Esports: a glance at an intense multi-billion industry
What is esports? Which games are played? How much money is involved? Does it have anything in common with traditional sports?
At Cooldown, our mission is to bring esports events to bars and let esports fans enjoy the best viewing parties with their friends. As part of the esports community we want everyone to understand what esports is about, so let’s take a look together at the concept, games played, money involved and much more!
The Cambridge Dictionary defines esports as “the activity of playing computer games against other people on the internet, often for money, and often watched by other people using the internet, sometimes at special organized events”. This definition shows us only a part of the whole picture. The fact is that it is a competition meant for bringing people from different parts of the world together to compete against one another.
This fast-growing and highly competitive video gaming industry has already grabbed millions of fans. From live events to streaming services, this multi-billion dollar worth industry has everything to woo the young and the young-at-heart. And with live video gaming becoming a part of high school sports, an increasing number of young game enthusiasts have converted into ardent stars who not only take a bagful of earnings but also make huge brand advocates for some of the biggest esports events in london. No wonder, these game enthusiasts have given a new meaning to student- athletes. For the parents who don't like their children's addiction to video games, here is a scoop: your child may attain college scholarships if he or she becomes a leading esports player by participating in any of these biggest esports events and competitions.
This has been possible due to the steps to acknowledge and reward the players as traditional teams. The alliance between PlayVS (an online gaming network) and the National Federation of State High School Associations (NFHS) in 2018 is evidence of esports being recognized as an actual sport. Now, that sounds interesting, doesn't it? Players from various teams clash in the games highly favored by gamers worldwide. Call of Duty, Fortnite, League of Legends, Madden NFL, or CS GO events, the list is alluring and fast-growing. The interesting part is that these gamers have won a huge fan following globally and watched with curiosity online, on TV, or during live events.
Most famous games played Let’s take a sneak peek into some of the favorite and highly popular esports games. ● Dota 2 Launched by Valve Corporation and a sequel to Defense of the Ancients: All-Stars, it is a highly favorite multiplayer esports game, especially in Europe and North America. It presents attractive graphics and is played five-on-five. The team devastating a structure named "Ancient" within the base of the other team is declared as the winner.
● Counter-Strike: Global Offensive This game managed to get the top slot last year despite witnessing a sharp plunge in the total prize money from 2019. The game's scene is made around several global CS GO events, hence it faced several challenges after the global pandemic COVID-19 struck the world. However, despite facing such problems including tough competition from Valorant, the CS GO events are rising the popularity charts with the game coming out as a sure-shot winner. And the fact that the game set a new record last year by attracting more than one million viewers proves the huge popularity of these CS GO events.
● League of Legends In one of the top-rated and biggest esports events, two teams play against each other. The game picks two teams comprising of not more than five players each on the arena. The aim is to get an edge over the opponent team by demolishing a structure named "Nexus" within the base of the other team. ● Overwatch Created by Blizzard Entertainment, this first-person shooter esports game is very prominent in Asia and is played the world over. It allows you to select from several different characters for varied roles with four different skills and different weapons. You can make use of your sharp abilities to get the opponents on their knees. The ultimate aim is to either take home a payload from one specified point to another or get control points.
Growth and Popularity of esports The rapid growth and popularity of esports have been remarkable. The viewership for esports is predicted to grow by 10.4% by the year 2023, according to Newzoo. As per DataReportal research (August 2019), around 1 billion users watch esports regularly, which shows a vibrant and happening demographics for esports. Gaming Street conducted a study showing 29 as the median age for American viewers, while nearly 39% of the total esports audience happens to be in the age group of 25-34 years. So, this shows the popularity of these games among the younger and the not-so-young audience.
Comparison with traditional sports Esports are no different from traditional sports in the sense that the audience can watch online broadcasts similarly as viewers watch basketball or other such sports via TV or reach the venue of the event. And if you love to watch the esports events live at the arena, you can watch your favorite players performing right in front of you. Esports might have once been a sub-class of sports culture, but as of now, the tremendous popularity has swelled the industry to reach its full bloom.
It would be quite apt to say that it is rapidly transfiguring from being a lively niche to a main form of entertainment the world over. And the onus must go to the famous superstars like DJ Marshmello, Michael Jordan, and Drake extremely, rising broadcasting from conventional media like ESPN, and the fast rise of Fortnite, at least in some fraction. Teams of people in esports events at a professional level are contracted for different organizations similar to basketball or football players. With a whopping 10's of millions of fans across different platforms, teams have been successful in amassing an obsessive following.
The money involved in prizes As far as the potential of earnings is concerned, unlike traditional athletes, players at esports events can gather loads of money. There are numerous esports events and tournaments held each year with lots of money as prizes for the winners. Investors from different parts of the world are keeping an eye on them. Tournaments possess millions in terms of prize money. The winning amount is divided between different players of the winning teams. This shows that the top-notch players of the world can earn seven figures annually. Take a clue from the example of 'Bugha', a 16-year-old winner in the Fortnite World Championship who walked away with a sterling $3 million. Interesting, isn't it?
Other largest prize pools ● ● ● ● ● ● ● ● ● ● The International 9 – $34.3 million 2019 Fortnite World Cup Finals – $30.4 million The International 8 – $25.5 million The International 7 – $24.7 million The International 6 – $20.7 million The International 5 – $18.4 million The International 4 – $10.9 million 2018 League of Legends World Championship – $6.4 million 2016 League of Legends World Championship – $5 million 2017 League of Legends World Championship – $4.9 million
The future seems bright As highly competitive video games scale the popularity charts by integrating into common culture, they have grabbed the attention of everyone, be it consumers, international investors, brands, and channels of communication. As per Insider Intelligence estimates, viewership for esports is likely to reach 646 million in 2023 highlighting a 9% CAGR (compound annual growth rate) from 454 million in 2019. So, the future is bright and lucrative. What do you say!!!
