The E-sports betting market includes revenues earned by entities by providing services such as real-time betting, comprehensive coverage, marketing solutions, security, and compliance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Sizing and Forecast
The E-sports betting market size has grown rapidly in recent years. It will grow from $9.96 billion in 2023 to $11.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to the popularity of esports, acceptance of online gambling, increased prize pools, youth engagement, sponsorship and investment.
The E-sports betting market size is expected to see rapid growth in the next few years. It will grow to $18.12 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to the expansion of esports titles, global market penetration, regulatory changes, partnerships and collaborations, and growing infrastructure. Major trends in the forecast period include cross-platform integration, adoption of blockchain, enhanced user experience, technological advancements, and integration of AI and machine learning.
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Segmentation & Regional Insights
The E-sports betting market covered in this report is segmented –
1) By Betting Types: Pre-Match Betting, Live Or In-Play Betting
2) By Platform Types: Online Betting Platforms, Offline Betting Locations
3) By Application: Ages 18-25, Ages 26-30, Ages 31 And Above
Europe was the largest region in the e-sports betting market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the E-sports betting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing popularity of online games is expected to propel the growth of the E-sports betting market. Online games are interactive digital games played over the internet, connecting players from various locations in a shared virtual environment. The growing popularity of online games is driven by advancements in technology, widespread internet access, engaging and immersive gameplay experiences, social connectivity, and the availability of diverse game genres catering to various interests and age groups. E-sports betting boosts online gaming popularity by increasing viewer engagement, attracting a wider audience, and generating revenue for the e-sports industry. For instance, in 2022, according to the Department of Foreign Affairs and Trade, an Australia-based federal government responsible for foreign policies and relations, the digital gaming industry was valued at $240 billion worldwide in 2020 and is projected to grow to $294 billion by 2024. In 2021, the industry generated $226.5 million in revenue, marking a 22% increase from 2020, with 83% of this revenue coming from international markets. Therefore, the growing popularity of online games drives the growth of the E-sports betting market.
Key Industry Players
Major companies operating in the E-sports betting market are Flutter Entertainment Plc, Entain Plc, Bet365, DraftKings Inc., Pinnacle Group Inc., Super Group Ltd., William Hill Plc, Kindred Group Plc, Paddy Power Betfair Plc, Betsson AB, Betfred, SBOBET, Parimatch, 888 Holdings Plc, Bet-at-home.com AG, Betvictor Ltd., Esports Entertainment Group, BetWinner, Intertops, Betcris, Bovada, Unikrn, GVC Group, GG.BET, Real Luck Group Limited
The e-sports betting market report table of contents includes:
1. Executive Summary
- E-Sports Betting Market Characteristics
- E-Sports Betting Market Trends And Strategies
- E-Sports Betting Market – Macro Economic Scenario
- Global E-Sports Betting Market Size and Growth
.
32. Global E-Sports Betting Market Competitive Benchmarking - Global E-Sports Betting Market Competitive Dashboard
- Key Mergers And Acquisitions In The E-Sports Betting Market
- E-Sports Betting Market Future Outlook and Potential Analysis
- Appendix
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