Skins can also be traded and sold, which creates a market in which rare skins are more in demand. Players earn skins in different games through gameplay, but they can also use real money to buy them. Companies offer several types of betting including skin betting, real money betting, social betting, fantasy betting, and challenge betting. Over the next two years, organizers will explore the potential for cross-platform esports competitions using 5G’s low latency and high bandwidth capabilities.Īlthough the market is gaining traction, it faces serious challenges from unauthorized betting/gambling and match-fixing. Esports is moving from local area network (LAN)-based wired connectivity to 5G-powered wireless connections. The adoption of Esports will be supported by increasing adoption of mobile and PC gaming, high accessibility and inclusiveness, and the development of the mobile 5G connectivity. The Esports market size by revenue will be valued at $1.64 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 16.7% over the forecast period.