Market Insights Advertising & Media Esports

Esports Betting - United Kingdom

United Kingdom

In the United Kingdom, revenue in the Esports Betting market market is projected to reach €159.8m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.64%, resulting in a projected market volume of €210.2m by 2029.
Although most revenue is generated the United States, in the United Kingdom is also a significant player in this market.
The average revenue per user (ARPU) in the United Kingdom is expected to amount to €40.1.
In the United Kingdom, the esports betting market is experiencing a surge in popularity, driven by increasing viewership and engagement among younger audiences.

Key regions: India, Sweden, United Kingdom, Asia, Germany

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Analyst Opinion

The eSports market in the United Kingdom has seen moderate growth due to factors such as the rising popularity of online gaming, increasing investment in the industry, and the convenience of online betting options. However, the growth rate has been subdued due to regulations and restrictions surrounding gambling in the country.

Customer preferences: The Esports Betting Market within the eSports Market has seen a rise in demand for mobile gaming platforms and live streaming services, driven by the growing popularity of mobile gaming and the increasing accessibility of high-speed internet. Additionally, the rise of influencer marketing and celebrity endorsements has influenced consumer preferences and purchasing decisions, as viewers look to their favorite players for tips and recommendations. This has led to a shift in the way companies market and promote their products, with an emphasis on social media and influencer partnerships.

Trends in the market: In the United Kingdom, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with a growing number of traditional sports betting companies entering the market. This trend is significant as it reflects the increasing acceptance and mainstream appeal of esports globally. It also has potential implications for industry stakeholders, as it presents new opportunities for revenue and partnerships between esports organizations and traditional betting companies. Furthermore, there is a rising trend of virtual in-game betting, which allows viewers to place bets while watching live esports events, providing a more engaging and interactive experience. With the rise of esports and the growing interest in betting on these events, the Esports Betting Market within the eSports Market is poised for further growth and innovation.

Local special circumstances: In the United Kingdom, the Esports Betting Market within the eSports Market is heavily influenced by the country's long-standing tradition of sports betting. However, the market has also been affected by the country's strict regulations on gambling, which have led to the emergence of alternative forms of esports betting, such as skin betting. Additionally, the UK's strong esports community and high internet penetration have contributed to the growth of the market, with esports tournaments and events being popular among British gamers.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market in the United Kingdom is influenced by macroeconomic factors such as technological advancements, government regulations, and overall economic stability. The country's strong investment in digital technologies and supportive regulatory environment has contributed to the rapid growth of the market. Moreover, the rising popularity of esports and increasing disposable incomes among the population have also fueled the demand for esports betting, driving market growth. However, the uncertainty surrounding Brexit and its potential impact on the economy may pose challenges for the market in the near future.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Esports betting market, which comprises revenues from online betting on Esports events. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.