It’s no secret that every bettor wants to place as many winning bets as possible while limiting their losses.
A large part of your betting success will rely on your market analysis, knowledge of the game, and players that take part in the tournaments.
In other words, betting successfully on eSports is not a matter of luck. If you don’t do your research, you may be lucky and win a few bets, but you won’t be successful in the long run.
Although learning about game mechanics, player profiles, and eSports events will give you an advantage and better judgment, it is also important to learn about the future of the eSports betting market. Knowledge of the bigger picture can help you make more informed decisions, after all.
In fact, the global eSports Betting industry may grow to $24 billion by 2028 with a CAGR of 13.1% due to the COVID-19 pandemic and a handsome $10 billion profit in 2021.
However, to better understand this business trend and its implications, we need to dive a bit deeper.
Top eSports Betting Markets
The number of people aged 18-25, which made up a significant percentage of the worldwide eSports betting market in 2021, is expected to be in the far millions by 2028, increasing steadily over the following six years.
A CAGR percentage is added to the League of Legends section between 2022 and 2028.
The leading betting corporations mostly focus on technological advancements to boost their efficiency.
By maintaining the existing development trends, such as quick and easy bet placements, and having the necessary financial resources to take part in the most effective methods, the eSports betting market can experience long-term growth patterns.
We already talked about how widely popular eSports betting on some of the leading gaming titles like Dota 2, CS:GO, or LoL is. The good news is that this eSports betting trend is going to double in around six to eight years. In other words, eSports betting will become one of the major sports betting parts in the future.
Currently, the most prominent betting sites you can visit are the following:
- William Hill
- GVC Holdings
- 888 Holdings
- Kindred Group
- Betsson AB
- eSports Entertainment Group
The largest eSports titles that players and punters like to stake are:
- League of Legends
- Dota 2
- CS: GO
However, given that there’s the upcoming Overwatch 2 game in October, we might see a large surge in betting interest for that game in the upcoming years.
The largest audience interested in eSports betting are young adolescents. Three main age groups comprise the market share:
- 18-25 years
- 26-31 years
- 31-40 years
As the years progress, we can expect this age group to expand to people in their 50s and having more older bettors in this equation.
eSports Betting Market – What the Future Holds
Given that punters need as much information and knowledge about eSports, it’s hard to assume whether sports bettors will be interested in this type of bets.
However, as eSports tournaments offer increasingly larger prize pools each year, we could expect more interest generated around this branch of betting.
For instance, in the latest Dota 2 competition, The International 10, the prize pool reached a whopping $40 million.
Add the increasing interest of the general public in online games and you get the perfect formula for a large betting audience.
Perhaps the biggest catalyst for eSports betting was the 2020 world pandemic. As the world shifted its communications onto internet platforms, eSports and online games became one of the most popular venting sources. The numbers mentioned at the beginning demonstrate this fact.
Even though large eSports tournaments were all halted in 2020, people realized how addictive and compelling eSports, in general, are.
As a result, 2021 became one of the largest years for eSports bettors and 2022 followed in the same way. For now, 2023 is more than promising.
As experts predict there will be more and more interest in eSports over the next ten years, you can expect eSports betting markets to explode.
That’s why it wouldn’t be bad if you start covering one of the popular eSports titles in order to exploit whatever advantages you can find in eSports games.