eSports Betting Market Report 2024 (Global Edition)

Global eSports Betting Market Report 2024 Market Size Split by Age Group (Ages 19-25, Ages 26-30, Ages 31 and Above), by Application (League of Legends, Counter-Strike 2, Dota 2, Others)

eSports Betting Market Report Description

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eSports Betting Market Insights Video

Competitive Landscape of the eSports Betting Market

The eSports Betting Market is a dynamic environment with a variety of competitors striving for market dominance. Companies are constantly looking for ways to expand their reach with strategies such as business acquisitions and strategic partnerships. Key players include established online gambling operators, specialized esports betting platforms, and rising startups that are bringing new and advanced esports betting solutions to the market.

May 2024: BetVictor expanded its partnership with Matchroom Sport for title sponsorship rights for a variety of snooker, pool, and darts events in the 2024/25 season. Under this agreement, BetVictor will sponsor the World Snooker Tour's Home Nation Series events, which include the English Open, Northern Ireland Open, Scottish Open, and Welsh Open. (Source: https://www.sportindustry.biz/news-categories/news/matchroom-sport-betvictor-title-sponsorship-uk-open-pool-snooker-darts/) November 2023: Betwinner has partnered with MiFinity to enhance its global presence and improve payment solutions for its customers. This collaboration aims to streamline transactions and provide a more efficient payment experience for users across multiple regions. (Source: https://igamingafrika.com/betwinner-partners-with-mifinity-to-grow-its-global-presence/) October 2023: Entain plc has completed the acquisition of Angstrom Sports, a specialist provider of next-generation sports modeling, forecasting, and data analytics. Angstrom's proprietary offering secures Entain as the only global operator with highly sophisticated in-house forecasting, analytics, risk, and pricing capabilities for US sports betting markets. (Source: https://www.entaingroup.com/news-insights/latest-news/2023/completion-of-acquisition-of-angstrom-sports/) June 2022: Betfred acquired a majority stake in LottoStar, South Africa's largest online betting company. This acquisition enhances Betfred's presence in the South African market, as LottoStar specializes in fixed-odds numbers betting and live games in the region. (Source: https://www.business-live.co.uk/enterprise/betfred-acquires-majority-stake-south-24314876)

Top Companies Market Share in eSports Betting Industry: (In no particular order of Rank)

• BetVictor
• Entain plc
• Betfred
• Pinnacle
• BetWinner
• Betsson AB
• Betcris
• Kindred Group plc
• GG.BET
• Bet-at-home.com AG
• Luckbox (Real Luck Group Ltd.)
• Esports Entertainment Group
• Inc.
• Flutter Entertainment plc
• DraftKings Inc.
• 888 Holdings plc
• Every game
• Bovada
• Galaxy.bet
• Betway Group
• Bet365 Group Ltd.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the eSports Betting Market

Which Region Dominates the eSports Betting Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of the global revenue due to the widespread legalization of sports betting, high internet penetration, and the strong presence of major eSports tournaments and platforms. Additionally, the region's growing acceptance of online gambling and the increasing popularity of eSports among a younger demographic contributes to its market dominance.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the eSports Betting Market due to the rapid growth of the gaming industry, increasing mobile internet usage, and a rising number of eSports enthusiasts. The region's large youth population, coupled with growing investment in eSports infrastructure and favorable regulatory changes, is driving the expansion of the eSports betting market in Asia Pacific.

The current report Scope analyzes eSports Betting Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America eSports Betting Market

According to Cognitive Market Research, the global eSports Betting Market size was estimated at USD 2614.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1045.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the eSports Betting Market with a market size of USD 825.04 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. This dominance is due to the increasing popularity of eSports and its mainstream acceptance as a legitimate form of entertainment. The legalization and regulation of sports betting in many states, along with the rise of online betting platforms, are significantly driving market growth.
• The Canada eSports Betting Market had a market share of USD 125.48 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. This high growth is attributed to the expanding eSports industry and the increasing number of Canadian bettors participating in eSports betting. The recent changes in regulations to allow single-event sports betting have also contributed to the growth of the market.
• The Mexico eSports Betting Market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 95.16 million in 2024.

Europe eSports Betting Market

According to Cognitive Market Research, the global eSports Betting Market size was estimated at USD 2614.2 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 784.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

• The United Kingdom eSports Betting Market had a market share of USD 131.76 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. This is due to the UK’s well-established betting infrastructure and strong regulatory framework. The increasing popularity of eSports among UK bettors and the presence of major eSports events and leagues are driving the market growth.
• The France eSports Betting Market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 72.15 million in 2024.
• According to Cognitive Market Research, the German eSports Betting Market size was valued at USD 155.28 million in 2024 and is projected to grow at a CAGR of 6.7% during the forecast period. This dominance is due to the growing interest in eSports and the expansion of betting platforms offering eSports markets. Germany’s evolving regulatory environment and the increasing integration of eSports into mainstream sports betting platforms are contributing to market expansion.
• The Italy eSports Betting Market is projected to witness growth at a CAGR of 5.9% during the forecast period, with a market size of USD 67.45 million in 2024.
• The Russia eSports Betting Market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 121.56 million in 2024.
• The Spain eSports Betting Market is projected to witness growth at a CAGR of 5.6% during the forecast period with a market size of USD 64.31 million in 2024
• The Luxembourg eSports Betting Market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 24.31 million in 2024.
• The Portugal eSports Betting Market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 16.47 million in 2024.
• The Greece eSports Betting Market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 9.41 million in 2024.
• Rest of Europe's eSports Betting Market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 121.56 million in 2024.

Asia Pacific eSports Betting Market

According to Cognitive Market Research, the global eSports Betting Market size was estimated at USD 2614.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 601.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.

• According to Cognitive Market Research, the China eSports Betting Market size was valued at USD 270.57 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. This dominance is attributed to the booming eSports industry in China, supported by a large and enthusiastic gamer base. The rise of online betting platforms and government efforts to regulate and promote eSports betting are key drivers of market growth.
• The Japan eSports Betting Market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 82.97 million in 2024.
• The India eSports Betting Market had a market share of USD 72.15 million in 2024 and is projected to grow at a CAGR of 11.8% during the forecast period. This high growth is driven by the increasing adoption of eSports among Indian gamers and bettors, coupled with the expansion of online betting platforms. The rapid growth of the internet and smartphone penetration in India is also fueling the demand for eSports betting.
• The South Korean eSports Betting Market is projected to witness growth at a CAGR of 9.1% during the forecast period, with a market size of USD 60.13 million in 2024.
• The Australian eSports Betting Market is projected to witness growth at a CAGR of 9.7% during the forecast period, with a market size of USD 31.27 million in 2024.
• The South East Asia eSports Betting Market is projected to witness growth at a CAGR of 11.0% during the forecast period, with a market size of USD 41.49 million in 2024.
• The Rest of Asia Pacific eSports Betting Market is projected to witness growth at a CAGR of 9.8% during the forecast period, with a market size of USD 42.69 million in 2024.

South America eSports Betting Market

According to Cognitive Market Research, the global eSports Betting Market size was estimated at USD 2614.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 130.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil eSports Betting Market size was valued at USD 55.94 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. This is due to the rising popularity of eSports and the increasing number of Brazilian bettors engaging in eSports betting. The growth of online betting platforms and the expansion of the eSports industry in Brazil are key factors driving market growth.
• Argentina's eSports Betting Market had a market share of USD 21.96 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. This growth is due to the increasing interest in eSports and the expansion of betting platforms offering eSports markets. The development of the online betting industry and the growing eSports community in Argentina are supporting market expansion.
• Colombia eSports Betting Market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 11.63 million in 2024.
• Peru eSports Betting Market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 10.72 million in 2024.
• Chile eSports Betting Market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 9.41 million in 2024.
• The Rest of Latin America's eSports Betting Market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 21.04 million in 2024.

Middle East and Africa eSports Betting Market

According to Cognitive Market Research, the global eSports Betting Market size was estimated at USD 2614.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 52.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.

• The GCC Countries eSports Betting Market is projected to witness growth at a CAGR of 8.5% during the forecast period, with a market size of USD 22.38 million in 2024. This is attributed to the increasing interest in eSports and the expansion of online betting platforms in the region. The gradual relaxation of betting regulations and the growing popularity of eSports among GCC countries are contributing to market growth.
• The Egypt eSports Betting Market is projected to witness growth at a CAGR of 8.0% during the forecast period, with a market size of USD 5.49 million in 2024.
• The South Africa eSports Betting Market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 8.26 million in 2024. This growth is driven by the rising interest in eSports and the expansion of online betting platforms catering to eSports markets. The increasing number of South African bettors engaging in eSports betting and the growth of the eSports industry are key drivers of market expansion.
• The Turkey eSports Betting Market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 4.50 million in 2024.
• The Nigeria eSports Betting Market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 5.49 million in 2024.
• The Rest of MEA eSports Betting Market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 6.17 million in 2024.

eSports Betting Market Analysis

How are Segments Performing in the Global eSports Betting Market?

eSports Betting Market Age Group Segment Analysis

According to Cognitive Market Research, Ages 19-25 segment stands out as the dominant category in the global eSports Betting market. This age group represents a substantial portion of eSports enthusiasts and bettors, reflecting their high engagement with digital gaming and online betting platforms. The strong inclination of younger audiences towards eSports and betting activities supports the leading position of the Ages 19-25 segment, driven by their familiarity with technology and gaming culture.

The Ages 31 and Above segment is the fastest-growing category in the eSports Betting market. This growth is fueled by the increasing interest in eSports among older demographics, who are becoming more engaged in digital gaming and betting activities. As more individuals in this age group discover and participate in eSports betting, driven by broader adoption and changing attitudes towards gaming, the segment is expanding rapidly. This trend highlights the growing appeal of eSports betting across a wider range of age groups beyond the traditionally younger audience.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of eSports Betting Industry. Request a Free Sample PDF!

eSports Betting Market Application Segment Analysis

According to Cognitive Market Research, the League of Legends segment is the dominant category by Application in the global eSports Betting market. League of Legends has established itself as a leading title in the eSports industry, with a large and dedicated fan base. Its popularity and high-profile tournaments drive significant betting activity, supporting the strong position of this segment in the market. The game's widespread appeal and competitive nature contribute to its dominance in eSports betting.

The Counter-Strike 2 segment is the fastest-growing category in the eSports Betting market. The release of Counter-Strike 2 has revitalized interest and engagement in the franchise, leading to a surge in betting activities. The game's established reputation, combined with its new updates and competitive scene, is attracting a growing number of bettors. This trend reflects the increasing enthusiasm for fresh and dynamic eSports titles, fueling rapid growth in the Counter-Strike 2 segment.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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