As competitive gaming has become more popular and profitable, the eSports betting market has seen a remarkable increase in growth and attention. Fans of eSports are increasingly willing to invest their time and money into the digital sport, as the market for wagering on eSports events continues to expand. In this article, we will take a closer look at the development of the eSports betting market, as well as the potential opportunities and drawbacks for investors and bettors alike.
Introduction to eSports Betting Market
Esports betting is a rapidly growing trend in the gaming industry. Over the last several years, more and more people have been part of this trend, as esports have become more popular. With the introduction of esports betting, people can now bet on competitive gaming matches in the same way they would bet on traditional sports. This type of gambling has become such a big hit with gamers that many bookmakers and online casinos are setting up their own betting departments for esports.
In fact, EsportsBetting.com states that the global esports betting market size was USD 9749 million in 2021 and is expected to reach USD 35556.36 million in 2031, exhibiting a CAGR of 13.7%. This growth rate suggests that esports betting is here to stay and that more and more people are into it. Thus, there is no better time than now to get to know more about this form of gambling.
Growth of eSports Betting Market
The global eSports betting market size is projected to reach USD 21060 million by 2027, from USD 12310 million in 2020, at a CAGR of 13.7%. The growing number of gaming tournaments and leagues across the world is driving the demand for betting services. Moreover, the increasing interest of investors in the multinational esports industry is also expected to contribute to the growth of the market.
In the recent period, the growing popularity of esports as an entertainment form has resulted in a surge in the number of esports players. This has, in turn, led to a greater influx of money into the esports betting market, thus providing a robust boost to the industry. Additionally, the increasing introduction of online gaming platforms and services has made it more convenient for the players to participate in tournaments and betting services.
eSports Betting Market Trends
Apart from the growth of the esports betting market, several other trends have been emerging in the market. One such trend is the rising demand for mobile-based betting. With the increasing number of mobile users worldwide, more and more people are opting for mobile-based betting. This shift has been driven by the rising demand for convenience, as users can play and bet on esports via their mobile devices.
In addition, other trends such as virtual reality-based betting, blockchain-enabled gaming, and artificial intelligence-based gaming have also been gathering steam in the esports betting market. The rising popularity of these trends is expected to drive the growth of the market in the near future.
As the growth of esports continues, the esports betting market is also expected to surge. With the introduction of more advanced technologies and gaming tools, the global esports betting market is sure to undergo a robust transformation in the future.
The global eSports Betting market is expected to grow significantly in the coming years, driven by the increasing awareness and popularity of esports. The introduction of advanced technologies such as virtual reality, blockchain, and AI, coupled with the rising demand for mobile-based betting services, will further boost the market growth. This will not only benefit the gaming community but will also create more job opportunities in the field.