Three ways eSports can become an even bigger business

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Video game tournaments are a $500-million global business, but they have a long way to go before they can justify the big investments game-makers, team owners and others are making in them.

That's because it's not yet clear how video game competitions, known as eSports, will take shape compared to traditional sports. Executives from leading eSports companies including streaming app Twitch and "League of Legends" developer Riot Games made that clear during a panel discussion at the Milken Institute Global Conference on Wednesday.

Attracting women to eSports, fostering amateur competitions and striking more licensing deals are among the major initiatives that need to be undertaken for the industry to realize its potential, they said.

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