Traditional sports may have long dominated the betting world, but the rise of video websites and streaming services has also given a boost to esports betting. Market research company Technavio predicts that the sports betting market will expand by $144.4bn between 2020 and 2024. However, the effects of the pandemic on traditional sports led many bettors to turn to esports. Oddspedia.com reported a significant increase in the number of esports betting events available. In July 2019, there were only 3,000 events, but by July 2020, that number had grown to over 50,000. This surge in demand can be attributed to both the lockdowns imposed due to the pandemic and the pre-existing high interest in esports. In 2019, there were already 443 million esports enthusiasts and casual viewers worldwide. With its experience in the video gaming industry, Luckbox sees esports as the future of betting, particularly targeting the younger generations who are active in the gaming community. Twitch, a leading gaming livestream platform, reveals that almost half of its users are between 18-34 years old. Luckbox’s CEO, Thomas Rosander, recognizes the value of evolution and acquisition tools to successfully launch a product. While esports is the primary focus for Luckbox, the company has also made moves into traditional sports betting and plans to launch an online casino product. Adding more titles to its esports betting platform is a key focus for Luckbox, as it aims to provide a wide variety of options to engage customers. In terms of marketing, Luckbox is exploring further opportunities and has launched an affiliate program to attract more customers. However, navigating local regulations is a challenge for the company as it seeks to expand globally. Despite the challenges, Luckbox has experienced significant growth and aims to continue building its platform and player acquisition capabilities. As the third CEO in recent years, Thomas Rosander’s appointment reflects the company’s determination to succeed, capitalizing on the vast amount of content being consumed in the gaming and betting market.
