Esports Betting Market Size was valued at USD 9.9 Billion in 2022. The Esports Betting market industry is projected to grow from USD 11.3 Billion in 2023 to USD 33 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 14.30% during the forecast period (2023 - 2032). Enhancing the quantity of sports activities to promote market expansion and augmenting investments to enhance are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for Esports Betting is being driven by the rising number of sporting events. Video game players compete in organized events called electronic sports, or esports. Numerous factors, such as growing e-sport popularity and more awareness of video games, are contributing to the e-sport market's expansion. Furthermore, throughout the course of the forecast period, long-term investment initiatives from major competitors as well as a higher percentage of contests and events with substantial prize money would create lucrative market opportunities. It is expected that the growing popularity of video games would drive the size of the esports sector.
Additionally, the demand for sports betting is being driven by the proliferation of connected devices, the evolving legal environment governing the entire betting sector, and the advancement of digital infrastructure. Furthermore, millennial and older citizens worldwide are becoming more and more interested in sports betting due to the growth in sports leagues and tournaments. Sports gambling are any type of wagering that involves placing a wager on the importance of a scheduled athletic event. People wager on games to increase their money based on two possible outcomes. Sports betting have become more popular since people may now wager on a variety of sports from the comfort of their own homes. This is contributing to increase gambling everywhere. Teams from video games will participate in competitive events called electronics sports. It mimics the sensation of viewing.
The proliferation of connected devices, the growing digital infrastructure, and the significant change in the regulatory environment of the worldwide gambling industry are some of the factors driving demand for sports betting. The COVID-19 epidemic has had a significant impact on the global sports industry since it has restricted sports worldwide. Nonetheless, an increase in eSports and other related betting activities during the epidemic contributed to the rise in popularity of online sports betting. Additionally, the widespread availability and accessibility of sports betting due to rising smartphone usage has propelled the global business.
For instance, The worldwide eSports betting industry is expected to be valued US$ 10030 million in 2021 due to the COVID-19 epidemic, and due to a CAGR of 13.1% during the review period, it is projected to grow to a readjusted size of USD 23760 million by 2028. By 2028, the eSports betting market worldwide, which in 2021 accounted for % of the total market, is expected to be valued USD million, with a compound annual growth rate of % over the next six years., demand for Esports Betting supplements will increase due to the rising sporting events. Thus, result in driving the Esports Betting market revenue.
The Esports Betting Market segmentation, based on type includes Ages 19-25, Ages 26-30, Ages 31 and above. The ages 26-30 segment dominated the market. This is because the eSports betting market, League of Legends matches and tournament wagering constitutes a sizable business. There is a lot of betting activity in this multiplayer online battle arena (MOBA) game because it has a sizable and devoted fan following.
Figure1: Esports Betting Market, by Type, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Esports Betting Market segmentation, based on Application, includes LOL, CS: GO, Dota 2, others. The LOL generated the most income. Because teenagers become older, their interests might change, and because eSports are more popular, accessible, and dynamic, they might find them more interesting. If their disposable income is larger than that of younger demographics, people in the 26–30 age range might have more money for betting and other recreational pursuits.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Esports Betting market area will dominate this market, owing to Interest in eSports betting is fueled in part by this increasing legitimacy and visibility will boost market growth in this region.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure 2: ESPORTS BETTING MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Esports Betting market has the second-largest portion of the market due to the increased visibility and investment in eSports betting have resulted from collaborations between eSports organizations, Further, the German Esports Betting market had the biggest market share, and the UK Esports Betting market was the fastest growing market in the European region
The Asia-Pacific Esports Betting Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. This is due to the growing percentage of people in the Asia Pacific region engaging in various sports betting activities. Moreover, China’s Esports Betting market had the biggest market share, and the Indian Esports Betting market was the fastest growing market in the Asia-Pacific region.
Leading market players are putting a lot of money on R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. to grow and endure in an increasingly cutthroat and dynamic market, Esports Betting industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the global Esports Betting industry to help customers and expand the market segment. In recent years, the Esports Betting industry has provided some of the biggest benefits to medicine. Major players in the Esports Betting market, including Betcris, Luckbox, Bet365,Betfred, Kindred Group, Draft Kings, Esports Entertainment and others, are Trying to achieve to grow market demand by investing in research and development operations.
Using more than 20 online gaming brands, such as Betsson, Betsafe, and NordicBet, Betsson AB is an online gambling corporation that creates websites for casinos, poker, bingo, sports betting, and scratch cards. The Nasdaq Stockholm Large Cap List includes Betsson Abate establishment of AB Restaurang Rouletter by Bill Lindwall and Rolf Lundström in 1963—later renamed Cherryföretagen AB (Cherry)—which supplied slot machines to Swedish eateries, is where Betsson AB got its start. In 1998, Cherry purchased a minority stake in Net Entertainment; a business that it co-founded with Investment AB Kinnevik.In May 2021, with the introduction of the new Europebet brand and a new office in Minsk, Belarus, Betsson increased the scope of its business in Eastern Europe.Betsson is set to provide casino, sportsbook, and poker services under the Europobet name.
Previously known as GVC Holdings, Entain plc is global sports betting and gaming enterprise. It is a component of the FTSE 100 Index and is listed on the London Stock Exchange. It is the owner of brands like Sportingbet, PartyPoker, Ladbrokes, Coral, and bwin. Under the name Gaming VC Holdings, the business was incorporated in Luxembourg in 2004. A group of four American businessmen led by Steve Barlow launched it [4] with the intention of acquiring Casino-Club, an online casino that had been operating since 2001 and was purportedly the biggest online gambling operator in German-speaking nations. In January 2021, Segev is set to become co-CEO of DAZN, the billionaire Len Blavatnik's OTT subscription video streaming firm, it was reported. John Skipper, the chairman of DAZN, stated that Segev will contribute "a wealth of technology and operations expertise to the position.
July 2022: according to Pontus Lindwall, Betsson's organic growth approach is ideal. The group's organic traffic from Central Asia, Latin America, and Central and Eastern Europe increased the rise by 13% between April and June.
September 2021: In order to offer its Instant Bank Transfer payment option to SI Sportsbook, the freshly launched online sports betting platform, Nuvei Corporation partnered with 888 Holdings Plc. Leading companies in the worldwide sports betting industry include
January 2023: Up from 32 in 2021, 36 states now allow sports betting. Furthermore, consumers in the United States have lawfully wagered approximately USD 73 billion on sports throughout the first ten months of 2022.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 9.9 Billion |
| Market Size 2023 | USD 11.3 Billion |
| Market Size2032 | USD 33 Billion |
| Compound Annual Growth Rate (CAGR) | 14.30% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Betcris, Luckbox, Bet365,Betfred, Kindred Group, Draft Kings, Esports Entertainment Group, Bovada, Bet-at-home.com, Galaxy.bet, |
| Key Market Opportunities | ·      Enhancing the quantity of sports activities to promote market expansion |
| Key Market Dynamics | ·      Increase expansion augmenting investments to enhance |
Frequently Asked Questions (FAQ) :
The size of the worldwide market for Esports Betting was estimated at USD 9.9 billion in 2022.
The global market is believed to grow at a CAGR of 14.30% during the forecast period, 2023-2032.
In the global market, North America accounted for the greatest share.
The leading companies in the industry include Betcris, Luckbox, Bet365, Betfred, Kindred Group, Draft Kings, Esports Entertainment.
The Ages 26-30 dominated the market in 2022.
The LOL had the largest share in the global market.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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