The e-sports industry is expected to grow rapidly in 2024, with a market revenue of 1.6 billion US dollars, 250 million core viewers and 600 million general viewers. It is even about to become an official Olympic event. The e-sports betting market is also gradually emerging and becoming a new star in the betting market. E-sports betting has not only injected new vitality into the traditional betting industry, but also attracted the attention and participation of a large number of young players.
What is eSports betting?
E-sports betting, also known as e-sports betting, refers to a gambling activity in which players bet on the results of e-sports competitions through various platforms. E-sports is a competitive sport based on video games. The largest competitive events such as the "League of Legends" global finals (referred to as the S competition) attracted more than 70 million unique viewers in 2021, with a peak audience of nearly 4 million. "Dota 2" International Invitational (TI), in 2021, TI's prize pool reached US$40 million, attracting a large number of viewers and bettors.
Global market size and major market distribution
Europe is one of the most developed regions for esports betting, especially in the UK, Germany and the Nordic countries. Many European countries have relatively mature gambling regulations that allow legal esports betting operations. The UK is one of the largest esports betting markets in Europe, with many well-known betting platforms such as Betway and Bet365.
In the North American market, especially in the United States and Canada, e-sports betting has developed rapidly in recent years. As states gradually relax restrictions on gambling, the legalization of e-sports betting is also accelerating. For example, New Jersey and Nevada have already allowed legal e-sports betting.
Latin America and the Middle East are also beginning to show potential for esports betting, with countries such as Brazil, Mexico and the United Arab Emirates seeing their esports markets gradually develop.
Major eSports Events
Market growth forecast
According to industry reports, the esports betting market is expected to grow at a high rate. By 2025, the market size may reach billions of dollars. The compound annual growth rate (CAGR) may be between 15% and 20%.
While the market for big games like League of Legends and Dota 2 is relatively mature, some emerging and niche games are starting to attract the attention of punters. As more countries relax or clarify esports betting regulations, market entry barriers will continue to decrease, further driving the growth of esports betting.
In today's rapidly developing digital age, e-sports betting is undoubtedly a booming trend; young people are the main force in the digital age. They are not only the core audience of e-sports, but also important participants in the betting market. By seizing this trend, we can gain insight into unlimited business opportunities. Through innovative betting products, personalized user experience and technology applications that keep up with the trend, we can accurately meet the needs of young users and create a more attractive business model.
