Renowned broadcaster and Esports veteran Paul ‘Redeye’ Chaloner is calling for better Esports betting education as the industry is now at a critical stage of its growth. The Esports industry is no newcomer to controversial scandals one of the most prominent being underage betting.
Chalone who recently joined new Esports betting platform, Luckbox, as an advisor believes that there is mostly lack of understanding in the Esports community pertaining to the risks of gambling. As part of his new role in the yet-to-be-launched Esports betting platform, he hopes to contribute to changing this.
“We can educate them along the way – that’s the key part for me. I don’t want to see underage gambling and I don’t want to see irresponsible gambling. I want people to be educated so they understand what they’re doing and the risks involved. And I think we can do that together with Luckbox,” he said.
Luckbox will be launching primarily with the intention complying with the highest level of gambling jurisdiction which will set it apart from all the other gambling operators.
Already a Billion-Dollar Gambling Industry
The past couple of years have seen the rapid of growth of Esports with a number of professional sports leagues, players and businessmen have backed and bought into competitive gaming teams around the globe. Naturally, Esports betting was bound to follow and with the likes of Mark Cuban at the helm, it certainly has a long way to go.
Currently, the major Esports leagues are projected to be worth $906 million – a figure that encompasses advertising, media rights, merchandise, game publisher fees, sponsorships and tickets. Unbeknown to most people, especially outsiders and newcomers, the gambling market around these Esports leagues has also risen meteorically and can be said to be quite robust.
According to a recent report by software analytics company Narus and research firm Eilers & Krejcik Gaming, excluding the vast majority of the United States where sports betting is still illegal, global figures for Esports betting have been projected to be somewhere close to $6.7 billion. From here on out, the sky is the limit.