The eSports betting market is set to experience tremendous growth and development in the upcoming years, with experts predicting it to become one of the most lucrative industries in the world. According to research conducted by Newzoo, the eSports betting market is estimated to reach US$17.2 billion by the year 2020. Moreover, financial technology firm Wallstreet diver forecasts that the market size of the eSports betting industry will reach US$30.3 billion by 2022. This rapid growth is attributed to the rising popularity of eSports and technological advancements in the online gaming sector. Additionally, with the introduction of regulations in the industry, the real money market for eSports betting is expected to surge in the coming years.
The global eSports betting market size is projected to grow at a compound annual growth rate (CAGR) of 16% from 2020 to 2026. This rapid growth in the eSports betting industry has been driven by the increasing popularity of online gaming and the growing trend of live streaming eSports tournaments. Due to this, the industry has seen the emergence of new platforms and various betting options. Additionally, eSports betting is gaining recognition as an attractive avenue for prospective bettors, as it offers cash prizes and various other incentives that can be won in competitions. The expansion of new technologies, such as Virtual Reality (VR) and Augmented Reality (AR), is expected to further drive the growth of the market in the coming years. With this, more contestants and bettors will enter the industry, consequently increasing the market size.