The ever-growing market of eSports betting is gaining more and more attention from both sides of the Atlantic. Online and mobile technology have made it more accessible and easier than ever to bet on eSports events, so demand is skyrocketing. In this article, we’ll cover market research into the big boom of eSports betting and how forex traders can benefit from it.
eSports Betting Market Research Review
The Scope of Esports Betting Market
The popularity of esports has grown in recent years, and with it, the corresponding betting market has become increasingly attractive to players and investors alike. An Eilers & Krejcik report (2018) estimates the global esports betting market to be worth between US$2.3 billion and US$50 billion, a figure which Juniper Research (2018) projects to reach US$50 billion in 2022. This number, when compared to the US$83.65 billion global sports betting market size accounted for in 2022 as reported by Dalipy, et al (2019), highlights the potential for further growth and investment.
Analysis of Esports Betting
Considering the exponential growth of the esports betting market, the need for comprehensive reviews become paramount. To address this issue, Wüst, et al (2020) conducted a systematic review of the research into esport betting and skin gambling. The review included literature from 44 sources, covering topics such as product descriptions, advances in technological capabilities, gaming mechanics, legal aspects, and measures of fair play. The analysis revealed current gaps in knowledge and evidence-based information, identifying potential areas of future research.
Benefits of Esports Betting Statistics
The availability and accuracy of live esports data and statistics are essential for appropriate Esports Betting market analysis. For instance, Bayes Esports provides up-to-date live data from esports events, giving eSports operators the chance to create competitive products. With official data, punters feel more confident in their betting decisions, adding an extra layer of trust and security to esports betting markets.
The Outlook for the Esports Betting Market
The global eSports And Traditional Sports Betting Market has increased rapidly over the years, with the latest report from Zion Market Research estimating a market size of US$682.63 million in 2022, a CAGR of 10.3% over the forecasted period. Traditional sports-betting operators are now licensing new esports betting products to capture new markets, taking advantage of the rise in demand. This increased competition has resulted in a general push for innovation, giving esports bettors a wealth of betting options, such as full-time wagering, live betting markets, and specialised esports features.
Though much research is still needed to gain a better understanding of the esports betting market, the industry’s growth and development are undeniable. As the esports market continues to expand, esports bettors can look forward to ever-improving products and services.