The world of competitive video gaming, known as esports, has exploded in popularity over the past decade. Games like League of Legends, Dota 2, Counter-Strike, and Overwatch have drawn hundreds of millions of passionate fans and spawned professional leagues with serious prize money at stake. As viewership and awareness of top-level esports have increased, so has interest in wagering on the outcomes of matches and tournaments. Esports betting has quickly become one of the fastest-rising sectors in the world of online gambling.
Wider Accessibility of Esports Competitions
Live streaming platforms like Twitch and YouTube Gaming have allowed fans to easily spectate esports tournaments for free from anywhere in the world. This accessibility exposes more potential bettors to competitions and teams. Betting operators have been quick to capitalize as dedicated fanbases grow.
Surging Esports Viewership Numbers
Esports now rival traditional sports in viewership and are predicted to overtake them soon. For example, the 2019 League of Legends World Championship drew a peak viewership of 44 million. As more fans tune in for marquee competitive gaming events at Princess Casino, interest in betting will rise in tandem.
Maturation of Esports Into an Established Industry
No longer a niche activity, esports is now a billion-dollar industry with extensive infrastructure and organizational structure.
Over 100 million viewers watched the 2021 League of Legends World Championship event. This mainstream growth and stability means increased confidence for bettors to wager on outcomes.
Extensive Betting Markets and Products
The evolution of esports from a hobby to an established industry has been matched by the depth of betting options available to punters. Beyond just winning wagers, bookmakers now offer robust proposition bets, over/under on matches, handicapping, and futures bets on events like The International and League World Championships. This variety raises the appeal.
Skyrocketing Market Size and Projected Growth
Hard numbers reflect the explosive expansion of esports betting. Industry analyst firm Technavio has forecast the market to grow by over 13 billion USD from 2020 through 2024. Another firm, Research & Markets, predicts a CAGR of nearly 25% from 2021 to 2025, resulting in a market size topping 5 billion USD. As more bookmakers expand offerings, these staggering growth rates should continue.
The table below summarizes technavio’s short and long-term market size projections for esports betting over the next few years:
Esports Betting Industry Global Market Size Projections
| Year | Projected Market Size (USD Billions) |
| 2020 | $0.9 |
| 2021 | $1.6 |
| 2024 | $14.8 |
In addition to impressive near-term gains, the long-term upside potential for esports betting remains immense given key demographic and viewing trends:
Younger Viewers Highly Engaged
Esports viewers tend to be younger than traditional sports fans. Over 75% of esports viewers are aged 18-35, according to analytic firm Interpret, LLC.
These digital natives are prime targets for online betting and are likely to drive wagering activity for decades to come as the market matures.
Global Reach Attracts Huge Audience
The internet allows esports events to reach virtually any market in the world with an online connection. Dota 2 tournaments, for example, are hugely popular in China and Southeast Asia. This global accessibility and appeal create a massive customer pool for betting operators.
Rising Smartphone and Mobile Usage
Live betting, in which wagers are placed in real-time as a match unfolds, has become extremely popular with the wide adoption of smartphones around the world. As mobile usage grows globally, on-the-go esports bettors will help increase market size.
Given the remarkable growth already witnessed in the esports betting sector and the incredibly positive outlook moving forward, this industry should continue its exponential expansion for years to come. Savvy gambling and betting companies will devote extensive resources to capitalizing on all of the current and future opportunities presented by competitive gaming and its enthusiastic fanbase spanning the globe. The esports revolution has only just begun, and for firms involved in sports wagering, that represents hugely lucrative and exciting possibilities on the horizon.