Esports betting has become an increasingly dynamic aspect of the esports industry, with significant growth in recent years. The global esports betting market is estimated to grow at a compound annual growth rate of 11.2 percent by 2024, reaching close to $30 billion, driven by demand from younger generations and the increasing popularity of gaming. This growth is driven by increased awareness and product innovation, in addition to the growth of major esports tournaments. The introduction of compelling in-game items, authentication systems, and additional ways to bet on competitive video gaming events are some of the key elements that have fueled the growth of the market in recent years. That being said, there is a lot of potential for esports betting to make further strides in the future by tapping into new markets and offering a variety of new experiences for fans.