E-Sports Betting Market Key Trends and Strategies for Expansion 2024-2033

Global e-sports betting market size is expected to reach $18.12 Bn by 2028 at a rate of 12.7%, segmented as by betting types, pre-match betting, live or in-play betting

Aug 21, 2024 - 12:48

E-Sports Betting Market Key Trends and Strategies for Expansion 2024-2033

The e-sports betting from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

E-Sports Betting Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -

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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Scope Of E-Sports Betting Market

The Business Research Company's reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers -

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.

Market Trends -

Major companies operating in the E-sports betting market are focusing on developing innovative technology, such as odds and modeling feed technology, to enhance betting accuracy, improve user experience, and offer more competitive and dynamic betting options. Odds and modeling feed technology involve using statistical models and algorithms to predict outcomes and optimize decision-making in various applications. For instance, in April 2022, Esports Technologies Inc., a US-based provider of esports products, platforms, and marketing solutions, launched its innovative Odds and Modeling Feed Technology. This cutting-edge technology enables the company to deliver real-time odds and modeling data to its clients, enhancing their ability to make informed betting decisions. The Odds and Modeling Feed Technology leverages advanced algorithms and machine learning techniques to analyze vast amounts of data, providing accurate and up-to-date insights on esports events.

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

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Regional Insights -

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.

Key Companies -

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

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