As competitive gaming becomes increasingly popular, so too has the number of individuals and organizations betting on the outcome of such an event. The market-in-2021/” title=”Predictions for the eSports Betting Market in 2021″>eSports betting market size has shown immense growth within the last few years with little signs of slowing down. In this article, we’ll take a look at the size of the eSports betting market and discuss its potential for future growth.
eSports Betting Market Growth Overview
The eSports Betting Market is growing at a fast pace, and is estimated to reach a market size of US$3.2 billion by 2027, with a projected growth rate of 10.45% (2023-2027). Various market vendors are trying to expand their product portfolio and revenue・growth of the key market vendors, due to the increasing demand and popularity of E-Sports Betting in recent years.
To attain a better market understanding, ESports Betting industry players are investing in market intelligence activities and expanding their market research and development capabilities. The industry is also seeing an increase in merger and acquisition activities, while simultaneously attempting to enter new markets and acquire additional customer base in various countries.
eSports Betting Market Forecast
The global Esports Betting market size was valued at USD 840.67 million in 2021 and is estimated to reach USD 35,556.36 million by 2031, growing at a compound annual growth rate (CAGR) of 13.7%. Increased adoption of Esports betting activities in various countries, coupled with rising interest in esports games among millennials and rising disposable income in developing countries, is facilitating the market growth.
Furthermore, advancements in gaming platforms and technologies, coupled with increasing competition among online gaming companies and publishers is expected to bolster the growth of the market further in the near future. In addition, continued advancements in the gaming sector and increasing availability of new Esports titles and tournaments is likely to fuel the eSports Betting market in the assessment period.
eSports Betting Market Segmentation
The ESports Betting market can be segmented based on player type, betting type, esports type, and region. Based on player type, the market is divided into casual players and professional players. According to betting type, the market is categorized into real-money betting, skins betting, and social betting. By esports type, the market is segmented into multiplayer online battle arena (MOBA), first-person shooter (FPS), real-time strategy (RTS), sports game, fighting game, and others. Region wise, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East and Africa.
eSports Betting Market Trends
The nascent Esports betting industry is already seeing lots of investments and innovations. Various operators are investing in building up ecosystems of gaming platforms and services and are increasing their presence in the Esports betting industry. Also, advancements in virtual technology and the emergence of cloud-gaming is further demonstrating a rise in the level of investments towards the Esports industry.
Furthermore, with the help of latest Esports betting technologies, big data and analytics is being used to keep track of Esports players’ winnings, losses, and patterns which offers huge potential in terms of industry development. Along with that, sponsorship opportunities with esports teams and gaming organizations are also providing opportunities to operators in the industry to maintain long-lasting and mutually beneficial relationships with gamers.
Moreover, rising investments in Esports leagues and various tournaments and championship events are also helping the industry grow and find more potential consumers. Furthermore, the entry of major Electronic Sports betting firms and the increasing convergence of the Esports industry with the traditional betting and gaming industry is also providing investors an attractive return and a larger potential customer base for operators to target.