Global eSports Betting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global eSports Betting Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Esports (also known as electronic sports, e-sports, or eSports) is a form of competition using video games. Most commonly, esports takes the form of organized, multiplayer video game competitions, particularly between professional players, individually or as teams. Esports betting falls under the category of betting on sports. It is reliant on bookmakers and sportsbooks that offer specific odds such as tie-ups, scores, etc. Players predict an outcome and wager some money on it.

Market Overview:

The latest research study on the global eSports Betting market finds that the global eSports Betting market reached a value of USD 671.78 million in 2022. It’s expected that the market will achieve USD 2709.03 million by 2028, exhibiting a CAGR of 26.16% during the forecast period.

Industry Trends

Esports Betting has more diversified forms
There are more and more forms of esports betting. Although e-sports is a new thing, it also retains the traditional e-sports operation mode. For example, setting up e-sports betting websites, using social connections for gambling, etc. On the basis of the original model, the current e-sports betting has more diversified ways to attract gamblers. For example, some operators also promote through social platforms, using Twitch, Twitter and YouTube for promotion and so on. In addition to placing pop-up advertisements, these social platforms can also invite anchors to promote. For example, changing the host’s nickname to an e-sports betting website and other novel drainage methods. In addition, the content of e-sports betting is diversified. Traditional betting is mostly based on winning or losing, and sports betting also has a supplementary spread, and the betting content is single. In e-sports betting, in addition to traditional betting on victory and defeat, betting on point difference, there are also betting on the number of kills, betting on tower push time, betting ranking, etc. Various indicators can be used as betting content.

Market Challenges

Integrity issues
One of the main challenges of esports betting is integrity. There has always been an integrity issue in esports, but today it's more serious than ever. Match-fixing is more rampant than one might expect. With the penetration of e-sports in the e-sports industry, the results of e-sports may be artificially manipulated. For example, there have been situations where players bet on themselves in a counterfeit match. These players would bet on themselves in advance, and then manipulate the result of the game through on-site operations. Global e-sports scandals, such as high-low matches in games, collusion between operators and players to manage profits, and unregulated peripheral casinos, may bring integrity risks to e-sports. These will reduce the initiative and trust of customers to a certain extent, thus threatening the development of the industry. The lack of proper anti-fraud and cheating mechanisms can also seriously hinder the development of the esports betting market.

Therefore, diversified forms of e-sports betting will attract more and more customer groups, and the global e-sports betting market will become wider and wider.

Region Overview:

In 2021, the share of the eSports Betting market in Europe stood at 20.23%.

Company Overview:

888 Holdings PLC is a multinational online sports betting company. The company offers online sports betting primarily in the European market. In March 2019, 888 Holdings PLC acquired Dublin-based Dedsert Ltd, which provides a sports betting platform to UK-licensed bookmaker BetBright, for £15 million.

Betway Group is a global online gambling company with a number of products including Betway Sportsbook, Betway Casino, Betway Vegas and Betway Esports. Betway Group is a leading provider of innovative and exciting entertainment in sports betting, casino and esports betting. The company has always been at the forefront of the online gaming industry, providing innovative and interactive gaming experiences in a fair, safe and responsible environment. The company focuses on Gaming, e-sports, sports betting and other fields.

888 Holdings PLC is one of the major players operating in the eSports Betting market, holding a share of 15.51% in 2022.

Segmentation Overview:

League of Legends
Differentiate according to the type of game.League of Legends is a 5v5 multiplayer online combat skill game developed and published by Riot Games.
Dota 2
Dota 2 is a free multiplayer online battle arena game developed by Valve.
CS: GO
CS: GO is a first-person shooter game jointly developed by Valve and Secret Road Entertainment. The game can run on platforms such as PC, PlayStation 3 and Xbox 360.
Others
It mainly includes a series of games such as Overwatch and FIFA.
By type, League of Legends segment accounted for the largest share of market in 2021.

Application Overview:

Ages 18-25 Refers to customers aged between 18-25.
Ages 26-30 Refers to customers aged between 26-30.
Ages 31 and Above Refers to the age of the customer is greater than or equal to 30 years old.

The market's largest segment by application is the segment Ages 18-25, with a market share of 75.11% in 2021.

Key Companies in the global eSports Betting market covered in Chapter 3:

Betcris
Pinnacle
Betvictor
BetWinner
Draft Kings
Betway
Bet-at-home.com
Everygame
Entain plc
Betsson AB
Flutter Entertainment
Luckbox
Bovada
Esports Entertainment Group
Bet365
Kindred Group
GG.BET
Galaxy.bet
888 Holdings
Betfred

In Chapter 4 and Chapter 14.2, on the basis of types, the eSports Betting market from 2018 to 2029 is primarily split into:

League of Legends
Dota 2
CS: GO
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the eSports Betting market from 2018 to 2029 covers:

Ages 18-25
Ages 26-30
Ages 31 and Above

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)