As the eSports industry continues to see record growth, its potential for the sports betting market has generated a surge of interest amongst both professional and amateur players. From fantasy match wagering to outright odds for individual events, the eSports betting market has seen a meteoric rise in its available supply of forex instruments - making forecasting and estimating future returns a worthwhile endeavor. This article aims to explore the current state of the eSports betting market with regards to its supply of forex instruments.
Introduction to the eSports Betting Market
The global Esports Betting Market is experiencing rapid growth and is projected to reach USD 1860.2 Million by 20, from USD 691.6 Million in 2022, at a CAGR of +15. Research conducted for this report analysed key players engaging in this sector, providing the necessary market data related to size, share, revenue, and sales. Market trends are highlighted to assist new entrants to the Esports Betting Market in their strategy formation.
Growth in the Esports Betting Market
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 surge in demand is due to the growing popularity of esports, as well as the increasing legalisation of betting on esports. Furthermore, the industry is witnessing the emergence of various platforms such as streaming media, games, and betting that are aiding in the growth of the Esports Betting Market.
Factors Contributing to the Expansion of the Market
The UK Gambling Commission reported an incredible year-on-year growth of 2992% in the eSports industry. Increasing opportunities for the growth of esports have led to an upgrade of broadcasting and streaming platforms. Consequently, this has had a direct impact on the eSports Betting Market. In addition, Betradar have emerged as the world’s leading supplier and provider of sports betting data services, offering a one-stop shop for betting, content, streaming & gaming solutions.
Essential Market Information for eSports Betting
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Also, the Market Insight report, titled “Global eSports Betting Market Size study, by Component (Esports Betting Platforms, Payment and Security Solutions, Channel Partners, and Coverage), by End User (Casinos and Card Rooms, Racetracks and Sportsbooks, and Online Gambling Sites) and Regional Forecasts 2020-2026”, valued the global eSports Betting market at 12670 million in 2020 and is expected to grow exponentially in the following years with a CAGR of 16.8%.
Overall, the Esports Betting Market is an exciting industry as it experiences significant growth and broader audience engagement. The factors outlined in this article are an indication of the success of the market and can be regarded as a sign of a potential new and exciting investment opportunity.