The last few years have seen one of the highest growth rates in virtual gaming platforms and the pandemic has fueled it even more. In 2021, revenue from online games saw an 11.7% increase, with the current industry now amounting to €19930 million.
According to reports, virtual gaming is expected to grow at a Compound Annual Growth Rate of 32.75% between 2021 and 2027, with an expected 216 million user base, which is still way more than Spain and Portugal’s population combined, believe it?
So yes, now there is no stopping the rise of Portugal virtual gaming tournaments.
In an interactive session with the expert Victória Oliveira (check profile), we discussed the boom of virtual gaming tournaments and the factors influencing the same. Here are the insights from the session:
Factors influencing the boom of virtual gaming tournaments
Mobility at your comfort
As technology is advancing in terms of gaming devices and multi-streaming, the virtual gaming tournament is seeing a heavy influx of people and better technology.
In the earlier days, the e- gaming tournaments were only limited to gaming booths. Now the PlayStation and Xbox are available at the comfort of your home. Now everyone can access and be part of these tournaments without any geographical or location restriction.
There have been developments in offline live streaming too. Owing to COVID 19, National Association for Stock Car Auto Racing launched their first-ever eNASCAR iRacing Pro Series Invitational aired live, garnering more than 900k viewers on FS1, making it the highest-rated gaming tournament in a TV program in history.
The shift towards online casino gaming
Those in the Portugal online casino industry will attest to the fact that the pandemic has drastically expanded their customer base and revenues. Gamers are increasingly turning to Portuguese online casinos. The updated internet services, updates in technology, and introduction of the 5G network have motivated gamers to switch to online modes. The cashless transactions in casino gaming tournaments have also compelled the crowd towards this shift.
Also, in many platforms like those reviewed on https://casinoportugal.online/, you do not need to pay any entry casino tournament fees unlike in offline casinos which charge hefty fees just for participating.
Zero cost infrastructure
The accessibility and growth of live-streamed gaming tournaments are marked by its zero-cost infrastructure requirements. Portugal Virtual gaming tournaments are essentially free, unlike traditional sports and premium entertainment content that was locked behind paywalls. One does not need to set up booths or casinos to finance a tournament.
Now you can build your gaming station at your home, take part in tournaments, win cash prizes without giving the winning cut to the Gamestation owner.
Leagues as a mode of earning
The existence of leagues in gaming tournaments indicates that the players have signed contracts to play and practice for a team and to compete in tournaments regularly.
In professional gaming, such as the Overwatch League, ELEAGUE, and ESL Pro League, players are full-time professionals who play for a team like Team Liquid, Cloud9, or complexity Gaming and benefit from perks like team housing.
This is significant because the existence of a professional league implies that players are paid a salary. They may also receive funds from sponsorships. The promise of large cash prizes attracts professional players to these events, which are sponsored by large corporations. Gaming platforms like Fortnight also hold huge prize money open tournaments. In the latest 2019 Fortnight World Cup, the solo winner was awarded a $3 million prize.
Diversity in Game Genres
Gaming tournaments are expanding their genres to attract more Portugal people into gaming. Investors and creators are focusing on customizing games to each player’s personality and play style based on their player data.
There are many opportunities for both gamers and non-gamers to find their place in this field. From competitive gaming, marketing, event planning, playground games, board games, fighting, and politics, every genre for every interest area of the user is being developed. This is attracting prospective gamers to explore more genres and understand where they perform best.
The bottom line
The Portuguese virtual gaming tournament industry is going strong, especially with the technology rapidly shifting towards mobile virtual reality experiences. It is not unpredictable that in the coming decade virtual gaming will only become more immersive, imaginative, and entertaining.
Spending in the video game industry fueled by the pandemic is indicating a potential uptick that has attracted many investors. The big mass-market brands like Google and Apple are already marking their spots and partnering with eSports Technologies to establish their virtual gaming and tournament platform.
The virtual gaming tournaments in Portugal will be changing the traditional gaming structure drastically in the coming years, so buckle up!