1 Global eSports Betting Market Insight Analysis
The global eSports Betting market is valued at USD 1,078.35 million in 2024, growing at a CAGR of approximately 24.5% from 2024 to 2033.
The eSports Betting market refers to the practice of placing wagers on competitive video gaming outcomes. It is a form of competitive video gaming and includes a wide range of genres and games. eSports betting is gambling on the outcomes of these competitive games. Specifically, participants place bets on all aspects of eSports events, including the winner of individual games, overall tournament results, in-game events, and a variety of other propositions. eSports betting falls under the category of betting on sports. It is reliant on bookmakers and sportsbooks that offer specific odds such as tie-ups, scores, etc. Betting on eSports events has gained immense popularity, creating a unique intersection between gaming and traditional sports betting.
Figure Global eSports Betting Market Size (M USD) and CAGR (2024-2033)
2 eSports Betting Market Growth Drivers and Restraints
One of the primary drivers of the eSports betting market is the growing global audience for eSports. This audience, which cuts across different age groups and demographics, has been instrumental in popularizing eSports as a form of entertainment on par with traditional sports. The increasing cultural acceptance of eSports as a legitimate sport has also led to a surge in betting activities, as more people are willing to engage with and invest in the outcomes of eSports events.
Technological advancements have played a crucial role in fostering the growth of the eSports betting market. High-speed internet, live streaming services, and mobile technology have made it easier for bettors to place bets in real-time, enhancing the overall betting experience. Additionally, the integration of virtual reality (VR) and augmented reality (AR) technologies is expected to revolutionize the way eSports events are consumed, further driving market growth.
The emergence of regulatory bodies and the standardization of eSports betting practices have contributed to the market’s growth. Organizations like the eSports Integrity Coalition work to ensure fair play and integrity in eSports competitions, which in turn boosts bettors’ confidence and encourages more people to participate in eSports betting.
The legal status of eSports betting varies significantly across different jurisdictions. In some regions, strict regulations or outright bans on gambling activities limit the market’s potential for growth.
Match-fixing and other forms of cheating pose a significant threat to the integrity of eSports betting. These scandals not only erode the trust of bettors but also damage the reputation of the eSports industry as a whole. The market’s growth is thus constrained by the need for stringent measures to ensure the integrity of eSports competitions.
As the eSports betting market matures, it faces the challenge of market saturation, particularly in regions with high eSports penetration. The intense competition among bookmakers and betting platforms can lead to a commoditization of offerings, making it difficult for operators to differentiate themselves and sustain growth.
3 Technological Innovations in the eSports Betting Market
Innovation is the cornerstone of the eSports betting market. For example, advances in data analytics have enabled operators to leverage player and team performance data to offer a more personalized betting experience. Additionally, the use of blockchain technology is increasing, providing a secure and transparent framework for transactions, which is essential for building trust in the betting community.
The shift to mobile and online platforms is a major innovation in the eSports betting space. These platforms have facilitated the market’s growth by making it more convenient for users to participate in eSports betting anytime, anywhere. The user-friendly interface and seamless betting experience offered by these platforms have attracted a new generation of bettors.
Mergers and acquisitions have played a major role in shaping the eSports betting market. Strategic integrations, such as Flutter Entertainment’s acquisition of MaxBet, have enabled leading operators to expand their market presence and gain a competitive advantage. These moves not only strengthen the market position of the acquiring company, but also contribute to industry consolidation, resulting in a more robust and efficient market structure.
In addition to M&A activity, strategic partnerships and collaborations have also played an important role in driving innovation in the market. For example, collaborations between eSports organizations and traditional sports entities have helped bridge the gap between the two sectors, opening up new avenues for growth and innovation.
As the regulatory landscape for eSports betting evolves, companies are investing in technology to ensure compliance with new regulations. This includes investing in age verification technology, anti-money laundering (AML) solutions, and responsible gaming tools, which are critical to maintaining a legal and ethical gaming environment.
4 Global eSports Betting Market Size by Type
League of Legends (LoL) continues to dominate the eSports betting market, with a projected revenue of $557.96 million in 2024. As a leading MOBA game, LoL attracts a massive player base and viewership, making it a favorite among bettors. Its strategic depth and frequent tournaments provide ample opportunities for betting, contributing to its substantial market share.
Dota 2, another MOBA giant, is expected to generate $100.20 million in 2024. The game’s complex mechanics and international appeal, particularly in regions like Eastern Europe and China, make it a popular choice for eSports betting. Dota 2’s The International tournament, with its massive prize pool, is a significant event that drives betting activity.
Counter-Strike: Global Offensive (CS: GO) is projected to have a market revenue of $285.10 million in 2024. As a first-person shooter, CS: GO offers fast-paced action and a wide range of betting options, from match outcomes to individual round victories. Its consistent presence in the eSports scene and regular major tournaments contribute to its strong betting revenue.
Table Global eSports Betting Market Size by Type in 2024
Type | Market Size (M USD) 2024 |
|---|---|
League of Legends | 557.96 |
Dota 2 | 100.20 |
CS: GO | 285.10 |
Others | 135.09 |
5 Global eSports Betting Market Size by Application
The youngest demographic, Ages 18-25, is projected to generate the highest revenue, with $505.94 million in 2024. This group represents the early adopters and the most active participants in eSports betting, driven by their familiarity with technology and their passion for competitive gaming.
The 26-30 age group is expected to contribute $436.75 million to the market in 2024. As this cohort progresses in their careers and maintains their interest in eSports, they are likely to engage in betting with more disposable income, making them a significant segment of the market.
The oldest segment, Ages 31 and Above, is forecasted to generate $135.65 million in 2024. While this group may not be as tech-savvy as the younger demographics, their growing interest in eSports and disposable income contribute to a stable market share.
Table Global eSports Betting Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
|---|---|
Ages 18-25 | 505.94 |
Ages 26-30 | 436.75 |
Ages 31 and Above | 135.65 |
6 Global eSports Betting Market Size by Region
North America is expected to lead the market with revenue of $180.02 million by 2024. The region’s mature eSports infrastructure, large number of passionate gamers, and increasingly favorable regulatory environment for eSports betting contribute to its dominance.
Following closely behind is Europe, with revenue of $477.57 million expected in 2024. The region’s diverse eSports scene, strong audience engagement, and presence of major eSports companies are driving its market growth, making it a key player in the global eSports betting space.
APAC is expected to generate revenue of $290.61 million by 2024. The rapid development of eSports in countries such as China, South Korea, and Japan, along with a young and tech-savvy population, has made the region an emerging hub for eSports betting.
Although smaller in size, South America and MEA are expected to contribute $86.09 million and $44.06 million, respectively, by 2024. These regions are seeing surging eSports popularity, increasing investment in local eSports scenes, and growing interest in betting.
Figure Global eSports Betting Market Size (M USD) by Region in 2024
7 Global eSports Betting Market Analysis by Major Players
7.1 Flutter Entertainment
Company Introduction and Business Overview:
Flutter Entertainment, established in 2016 and headquartered in Ireland, is a leading global sports betting, gaming, and entertainment provider with a worldwide market distribution.
Flutter Entertainment serves over 10 million customers globally and owns brands such as FanDuel, Sky Betting & Gaming, Paddy Power, PokerStars, Betfair, and others. It is recognized as a global leader in online sports betting and gaming, offering a vibrant and secure betting and gaming experience to its customers.
Products:
Flutter Entertainment offers a wide selection of eSports to bet on, including Counter-Strike: Global Offensive, League of Legends, DOTA 2, Overwatch, Hearthstone, Rocket League, and StarCraft II, with various betting options like pre-match bets, outright bets, and live betting.
Market Performance in 2023:
In 2023, Flutter Entertainment achieved a revenue of $119.32 million USD, with a gross of $70.71 million USD and a gross margin of 59.26%.
7.2 Betway
Company Introduction and Business Overview:
Betway, founded in 2006 and headquartered in Malta, is a global online gambling company with a worldwide market distribution, offering a variety of products including Betway Sportsbook, Betway Casino, Betway Vegas, and Betway Esports.
Betway Group is known for providing innovative and exciting entertainment in sports betting, casino, and eSports betting. The company is at the forefront of the online gaming industry, offering fair, safe, and responsible gaming experiences.
Products:
Betway offers a broad selection of eSports games for betting, including CSGO, League of Legends, Dota 2, Overwatch, Hearthstone, World of Tanks, and Starcraft 2, providing a large number of betting markets for each title.
Market Performance in 2023:
For the year 2023, Betway reported a revenue of $79.12 million USD, a gross of $49.75 million USD, and a gross margin of 62.88%.
7.3 Bet365
Company Introduction and Business Overview:
Established in 2000 and headquartered in the UK, Bet365 is a prominent online gambling company with a global market reach, offering a comprehensive range of betting opportunities across various sports and eSports.
Bet365 Group Limited is engaged in online gambling, providing betting on a multitude of sports, including football, horse racing, tennis, cricket, basketball, as well as casino games, poker, and bingo rooms online.
Products:
Bet365 provides a large variety of eSports betting options, including League of Legends, Counter Strike: Global Offensive, DOTA 2, StarCraft II, and Heroes of the Storm.
Market Performance in 2022:
In 2023, Bet365 recorded a revenue of $55.21 million USD, with a gross of $35.18 million USD and a gross margin of 63.72%.