All the facts we can see today confirm that esports gambling is rising in the Philippines. There are multiple reasons why we have such a situation today. Primarily, a lot of people follow different eSports tournaments. After getting the chance to be on the team or the outcome of any round, people started to follow esports even more.Â
From the perspective of average users, this is an essential change. Yet, from the perspective of economic prosperity, this was also a fantastic thing! eSports gambling strongly supports the economy of the Philippines. Certain projections confirm this industry can reach a few billion dollars in yearly revenue.
On this page, we would like to discuss some important facts about the economics of eSports gambling. We will explore the current situation in the eSports gambling section, talk about numbers, and analyze ways it supports the Filipino national economy. So, let’s go!
Current Situation in the esports Gambling World
As we said, eSports has been popular in the Philippines for many years. It is one of the countries with the most active eSports players on the professional level. The situation simply made different casino operators expand their offer and add different tournaments available for gambling on their platforms.
Today, people have the chance to gamble on different eSports events on a diversity of licensed gambling sites. The most professional ones try to cover all the leagues and games and satisfy Filipino players! Of course, not all gambling sites have amazing offerings. You should only register on safe gambling sites in the Philippines and grab some tips from verified reviewers to ensure yourself complete comfort and satisfaction.
Despite high demand, eSports gambling sites are also on the rise because of the regulated Filipino gambling market. The working conditions for different gambling operators are amazing. Also, all people can enjoy gambling without any concern about their cybersecurity.
Annual Revenue in the eSports Gambling Market Will Grow
Let’s focus more on the annual revenue and growth of the eSports gambling market. It is projected that eSports betting market will reach more than $15 million in revenue by the end of 2023. The same research confirms that, based on insights we have today, the revenue of the eSports betting market in the Philippines will be more than 20 million by 2027.
These numbers may not be as high as in some other markets. Yet, people must remember that the eSports gambling market is relatively young in the Philippines. With the latest improvements in the overall gambling industry, the revenue could be even higher in the next 4 or 5 years.
How Does eSport Gambling Support the Filipino National Economy?
People often do not understand the impact of eSports gambling on the economy. They only see the potential revenue casinos with the eSports section achieve yearly. All these operators pay taxes, hire people and so on. Here are a couple of ways eSports gambling sites support the country’s national economy.
Tax Revenues
It is not a secret that eSports are a big business. All the big businesses have one obligation they hate a lot: paying taxes. All the eSport gambling sites pay extremely high taxes because of the high profits they generate from their offering. Money generated by the government is used later to develop other fields within the country. For instance, that money can be invested in new schools, infrastructure, agriculture, etc.
This probably explains why the Filipino government welcomed gambling sites that made eSports betting available on their platforms. With regulated gambling laws, they have attracted a lot of them, and we believe their number won’t go down soon. On the contrary, new brands will appear in the future!
New Working Places
The competition between esports gambling sites is tough. Each one tries to attract as many as possible Filipino gamblers to register on the website. For such a goal, hiring professionals from different fields is essential. For instance, there has to be someone who will write articles on the gambling site regarding eSports.
Apart from that, a web developer is needed who will take care of the platform’s functionality, a customer agent who will solve the doubts and questions of players, and so on. It is hard to believe these websites will hire someone outside the Philippines. Locals will have the chance to find new employment opportunities and get some good salaries. That’s one of the ways the economic standard in the country is improving.
Will the Filipino esports Gambling Field Grow in the Future?Â
We actually believe that this field will grow in all parts of the world. The eSports field itself is growing year by year. Tournaments and teams are managing to sign powerful sponsorship contracts. Many of the sponsors are actually gambling sites. That ensures that all these gambling platforms will focus more on eSports gambling offers.
People will certainly get more fantastic offers regarding electronic sports. New bonuses will allow them to gamble more and get the chance to gain some experience. With a certain dose of experience, they will be willing to gamble more, increasing the revenue of these companies.
That means the government will manage to generate higher taxes and invest that money in other fields. As you see, all these things are connected to the world scene, and we are sure the same scenario will be reflected in the Filipino market.
Conclusion
The economics of eSports gambling is on a good path. We believe the growth this industry is experiencing will be good for everyone. Based on our opinion, predictions regarding revenue are not quite correct. We are sure this eSports gambling field will make much more than experts currently say. Are you willing to become part of this industry?
