NVIDIA and Corsair Gaming Are the Best Bets on This Terrific Opportunity

The esports market has the potential to take off in the coming years as more people tune in to watch competitive video game tournaments, leading to a sharp rise in sponsorship and advertisement revenue. According to a third-party estimate, global esports revenue could exceed $1.6 billion in 2024 compared to $947 million last year. What's more, the number of people watching esports is expected to reach 577 million by 2024.

The prize money offered by esports tournaments has been rising rapidly as well, leading to increased participation. The total prize money of esports tournaments in 2018 was nearly $165 million, and the number of active gamers stood at 23,000. Winnings increased 42% in 2019 to $236 million, while participating gamers at these events increased to over 28,000.

Esports growing popularity bodes well for NVIDIA (NASDAQ: NVDA) and Corsair Gaming (NASDAQ: CRSR). Let's see how.

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Source Fool.com