The eSports betting market is projected to be worth tens of billions by 2023, with the foreign exchange market forming an increasingly significant component of the industry. Segmentation of the eSports betting market is essential in understanding and capitalizing on the lucrative opportunities available. This article will examine the potential for segmentation of the eSports betting market in the foreign exchange space in 2023. /technical
Overview: ESLports betting market in 2023
The esports betting market is projected to reach USD 2.1 billion in 2023. With strong potential for future growth, this segment is expected to reach USD 182.12 billion in 2030, exhibiting a CAGR of 10.3% from 2023. According to a new report from Technavio, the esports betting market is poised to grow in terms of revenue, as sponsorships, media rights, and advertising will continue to increase. With the rising demand for media rights, there will likely be an increased focus on publisher fees, merchandise, and ticket sales.
Global esports market size in 2021
The global esports betting market size was USD 9749 million in 2021, and it is estimated to reach USD 35556.36 million in 2031, exhibiting a CAGR of 13.7%. The growth of the industry is attributed to increasing awareness among sports fans, sponsorships, and media rights. An increase in sponsorship deals and ongoing esports leagues is expected to boost revenue for the industry as a whole.
The future of esports
Abios, the leading provider in the esports market, released its year in esports report, predicting that betting operators could experience strong growth in the coming years. The report suggests that the popularity of esports titles is increasing, with more and more countries and organizations trying to host competitions and tournaments. Another factor driving the industry is the emergence of virtual currency.
Furthermore, betting on esports events has significantly increased in the past few years due to the increasing interest in esports games and the emergence of several esports fantasy platforms. Additionally, platforms such as Twitch, YouTube, and Mixer are also helping to drive viewership and bolster the popularity of esports betting.
The global esports betting market is segmented based on revenue stream, geography, and user demographics, among other parameters. According to the report, the Esports Betting market is segmented into sponsorships, media rights, advertising, publisher fees, and merchandise and ticket sales. Advertising and Publisher Fees are expected to be the largest contributors to the market, accounting for a revenue share of 45.2% and 28.3%, respectively, in 2021.
In terms of geography, the market is divided into Asia-Pacific, Europe, North America, and the Rest of the World. Asia-Pacific is the key market, and is anticipated to provide the highest revenue growth opportunities in the global Esports betting market. The region is also expected to be the largest contributor to global revenue and is estimated to account for a market share of 50.2% in 2021.
User demographics are also an important segment for the Esports betting market. This segment is divided into amateur, semi-professional, and professional gamers, and the amateur gamers segment is predicted to remain the largest, accounting for 66.7% of the market in 2021.
In conclusion, the Esports Betting Market is expected to experience positive growth in the coming years, driven by global market trends such as increasing sponsorship deals, the emergence of virtual currency, and the increasing use of online platforms and services. With the rise of esports, the market is also expected to benefit from new markets and technologies.