Market Insights Advertising & Media Esports

Esports Betting - Worldwide

Worldwide

Revenue in the Esports Betting market market worldwide is projected to reach €2.3bn in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.91%, leading to a projected market volume of €3.2bn by 2029.
With a projected market volume of €668.8m in 2024, the majority of revenue is generated the United States.
The average revenue per user (ARPU) is anticipated to amount to €31.1.
The global Esports betting market is witnessing a surge in engagement as more countries embrace regulatory frameworks, enhancing consumer confidence and participation.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Esports Betting market within the eSports market worldwide is experiencing mild growth, influenced by factors such as the growing popularity of digital platforms, increasing interest in competitive gaming, and the convenience of online betting options. This growth rate is impacted by the increasing number of tournaments and events, as well as the rising number of partnerships and sponsorships in the industry.

Customer preferences: As the popularity of eSports continues to grow, so does the demand for esports betting. One notable trend in consumer preferences is the increasing use of cryptocurrency for esports betting transactions. This is due to its anonymity and convenience, especially for younger generations who are more tech-savvy. Additionally, the rise of mobile gaming has also led to a surge in mobile esports betting, allowing consumers to bet on their favorite games anytime, anywhere. These shifts reflect the increasing digitalization and tech-driven lifestyle of modern consumers.

Trends in the market: In the eSports industry, the global shift towards online tournaments and events has led to a surge in the popularity of eSports betting. This trend is expected to continue as more traditional sports betting platforms expand into the eSports market. Additionally, the rise of mobile gaming and the increasing accessibility of eSports through smartphones has opened up new opportunities for betting. These developments have significant implications for stakeholders, including increased revenue potential for eSports organizations and greater engagement from fans. However, concerns over the potential risks of gambling addiction and the need for regulation remain key challenges for the industry.

Local special circumstances: In Asia, the eSports betting market is experiencing rapid growth due to the region's enthusiastic gaming culture and strong online infrastructure. South Korea, in particular, stands out for its thriving eSports industry, supported by a large number of professional teams and tournaments. In Europe, the market is heavily influenced by different regulatory frameworks across countries, with some allowing for more lenient betting laws. In contrast, countries like Germany have strict regulations in place, hindering the growth of the market. Additionally, cultural differences play a significant role in the popularity of specific games and betting practices, with games like League of Legends being more popular in Asia, while first-person shooters dominate the North American market.

Underlying macroeconomic factors: The eSports Betting Market within the eSports Market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with stable and growing economies are experiencing a rise in demand for eSports betting, as consumers have more disposable income to spend on leisure activities. In addition, favorable regulatory environments and government support for the eSports industry are also contributing to the growth of the market. Furthermore, the increasing popularity of eSports and the growing millennial population are driving the demand for eSports betting, as they are the primary target demographic for this market.

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.