Betmatch Betting Platform Takes Aim At Growing Esports Sectorbr>
Esports is booming, with matches on Twitch and other platforms as eagerly followed as any professional basketball, football or baseball game. Hundreds of millions of dollars are being generated, but the potential for growth is only starting – US states and countries are increasingly allowing people to bet on their favorite teams, incentivizing more and more of the gaming world.
Ivan Chebotaev, CEO of Betmatch, a global sports betting platform which uses blockchain technology, answered a few Block Tribune questions on the growing phenomenon.
BLOCK TRIBUNE: How much has gambling grown since more areas have allowed it?
IVAN CHEBOTAEV: Sports betting becomes more and more popular around the globe. If the process of legalizing the betting in the United States is successfully completed, the market will reach the peak of popularity in the nearest future. At the moment, the growth rate of the market volume is about 4.5% per year. In general, we can only be glad for everything that is now happening around the betting industry. If the demand grows, so does the market. The competition will increase, and all this will be the background for creation of the favorable environment for players.
BLOCK TRIBUNE: How can you evaluate an esports gambling platform?
IVAN CHEBOTAEV: Cyber-security is also gaining momentum: many sports news sites abound with computer games, tournaments, which become more qualitative and gather a huge audience. E-sport is developing at an enormous speed, which gives you the prospect of transformation into sports in our usual sense. However, to achieve this, Esports should work on the drawbacks, which include the lack of “legislative” and representative system.
BLOCK TRIBUNE: Where are the growth areas for esports?
IVAN CHEBOTAEV: I guess that there is no specific area for e-sports since it is played online. It is so much popular in Europe as in the USA, for instance. And due to its rapid growth in recent years, I think that soon we will be watching e-sports tournaments on our TVs as we watch regular sport matches today.
BLOCK TRIBUNE: Will online betting eclipse regular wagering with bookies? How long a timeline?
IVAN CHEBOTAEV: Online betting has gained its popularity very fast. But I am not sure that it will fully eclipse regular betting, because there are still some people who think that going to bookmaker’s office is much more reliable rather than placing a bet simply sitting in a front of your monitor. All I know for sure is that online betting will totally poach the majority of bettors.
BLOCK TRIBUNE: How easy is it to transfer tokens to fiat? How big a barrier is it for esports?
IVAN CHEBOTAEV: Let’s face it, the process is still somewhat cumbersome for most of the non-tech world. It is not so cumbersome as you may think. For instance, you won a certain number of tokens placing a bet on e-sports. Speaking about Betmatch and the easiest way to transfer tokens to fiat, you should choose an exchange that has a low transaction fees and can convert ERC20 tokens into fiat currency needed.