Olympics Expanding Betting Opportunities with eSports and Flag Football

The International Olympic Committee (IOC) is taking steps to embrace eSports by announcing plans to establish the Olympic Esports Games. This decision follows the success of the inaugural Olympic Esports Series that took place during Olympic Esports Week. The Olympic Esports Series featured sports simulation titles and attracted over 500,000 participants and six million views. While the IOC ventured into eSports with non-traditional titles, its plans for the Olympic Esports Games are yet to be detailed. The eSports betting industry is growing rapidly, with a global market value of $682.63 million in 2022 and potential growth to $2.59 billion by 2028.

In addition to eSports, the IOC has confirmed the inclusion of several other sports in the Olympics, including flag football, cricket, baseball-softball, lacrosse, and squash. Cricket, in particular, is returning to the Olympics after being eliminated in 1900. This move represents the IOC's efforts to diversify the Games and attract a broader global audience. Flag football, which is similar to American football but with minimal physical contact, will also be featured. These changes open new avenues for global sportsbooks, especially in countries like India, where cricket generates around $150 million in betting revenue.

The IOC's decision to embrace eSports and traditional sports is significant and aims to accommodate a wider range of sporting interests, appealing to both eSports enthusiasts and fans of traditional sports.