ROLR CEO: US Esports Betting Market Still Nascent, Could Vietnam Leap Ahead?

Hook: One Telling Number

When American fans pack into arenas to watch League of Legends finals, with millions streaming online, the betting revenue from esports remains only a fraction of traditional sports. That's the paradox Seth Young, CEO of prediction platform ROLR, pointed out in a recent interview. He said, "The esports betting market in the US is not there yet. I've been saying this for seven years, and it's still true." That statement is both a warning and an opportunity for those willing to wait.

Context: The Big Picture

Esports has become a global phenomenon, with major tournaments like the League of Legends World Championship, The International (Dota 2), and Valorant Champions attracting millions of viewers. In the US, esports events often sell out arenas, and online viewership rivals traditional sports. Yet when it comes to betting—a crucial piece of the professional sports ecosystem—esports remains the "little brother" to football, basketball, and baseball. Why this gap? According to Young, it's due to differences in regulation, event consistency, and user culture. While Asian and European markets have made some progress, the US is still searching for its own path.

ROLR, the company Young founded, doesn't aim to compete head-on with giants like DraftKings or FanDuel. Instead, it focuses on prediction markets—where users bet on esports event outcomes rather than traditional odds. With its High Roller platform having operated successfully in weaker markets, ROLR has accumulated five years of positive return on ad spend (ROAS) data. This suggests they have a working formula, but can it be replicated in the US market?

Core: ROLR's 'Surgical' Strategy

ROLR's strength lies in its cautious, measurable approach. Instead of burning money on mass advertising, they partner with Spike Up Media, a lead generation firm. Spike Up Media is not just a partner but a major shareholder in ROLR, indicating close alignment. Over five years, in markets weaker than the US, this pair has proven effective: every ad dollar spent brings measurable profit. "We spend surgically. We only focus on channels with measurable ROAS," Young explained.

This strategy reflects a different mindset from major competitors. While DraftKings and FanDuel spend hundreds of millions to capture market share, ROLR accepts the role of "challenger" with more modest ambition: "We don't need the whole pie. We just want our slice." However, Young also admits the US esports market is still too small for immediate large profits. He said, "Everybody piles into an arena to watch a League of Legends game, but trading volume doesn't match." This raises the question: is esports missing a catalyst to activate the betting market?

Another key factor is regulation. Kalshi, another prediction platform, operates under CFTC oversight. ROLR, with a similar model, faces different legal hurdles across states. While traditional sports betting is legal in over 30 states, esports betting remains in a gray area in many places. This discourages investors and slows user adoption.

Contrarian: A Reverse View – Could 'Immaturity' Be Vietnam's Opportunity?

If the US market is still nascent, Vietnam stands in a completely different position. Esports in Vietnam has boomed in recent years, with games like Arena of Valor, League of Legends, and Valorant attracting millions of players. Tournaments like the Đấu Trường Danh Vọng (Arena of Valor) and VCS (Vietnam Championship Series) have high online viewership. Yet, the esports betting market in Vietnam is still rudimentary and largely operates in the shadows of illegal gambling.

Interestingly, this very immaturity creates an opportunity. If Vietnam can establish a clear legal framework for esports betting, it might leap ahead of the US in capturing this market. Look at Thailand or the Philippines, where esports betting platforms have emerged and attracted significant user bases. Vietnam, with its young population, high smartphone penetration, and deep esports passion, could become a new hub for this industry—if lawmakers and businesses seize the moment.

However, caution is needed. As Young himself said, "Data reveals nothing but the truth." Data from other markets may show potential, but each country has its own characteristics. In Vietnam, cultural stigma against gambling remains strong. Developing a legal esports betting market requires long-term education and attitude change. Moreover, issues like event integrity (match-fixing, hacking) are major hurdles.

Takeaway: Signals for the Next Round

The lesson from ROLR is: the esports betting market, whether in the US or Vietnam, needs time to mature. Disciplined players with solid data and trusted partners will have the advantage. For Vietnam, the question is not "whether to join?" but "when and how?" If policymakers quickly catch up with trends, Vietnamese esports could be not only a powerhouse for players but also an attractive betting market. But if they hesitate, they will miss the opportunity that the US market is leaving open.

A night in Hai Phong taught me one thing: people look at the price board, I look at the movement board. While the US market is still asleep, Vietnam can wake up and take its first steps. But remember: graphs don't lie, but they don't tell the whole story. People, culture, and institutions are the ultimate variables.

(Note: This article is based on analysis from data sources on the esports betting market and ROLR's strategy, combined with real observations in Vietnam.)