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E-sports (short for electronic sports) are video games that are played competitively. It is a relatively new sport but one that is growing rapidly worldwide. The growth of e-sports in recent years has been meteoric and all the signs are that this trajectory is set to continue. According to a study by Statista the global revenue for e-sports is due to hit US$2.9bn by 2025.
A sport that started in players’ bedrooms now has an estimated yearly worldwide viewership of 500 million again according to Statista. Huge live events are held such as the Fortnite World Cup in front of live audiences and the earnings of those involved in the sport particularly at the top end are growing exponentially.
With greater financial rewards and commercial opportunities comes increased regulatory scrutiny. Tax authorities around the world including HMRC are quickly getting up...
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