Press release
Betting on the Future: E-Sports Betting Market Trends and Projections 2024
As per the report, the E-sports betting market size has grown rapidly in recent years. It will grow from $9.96 billion in 2023 to $11.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The E-sports betting market size is expected to see rapid growth in the next few years. It will grow to $18.12 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%.
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Online Gaming's Influence On E-Sports Betting Market Expansion
The growing popularity of online games is expected to propel the growth of the E-sports betting market. Online games are interactive digital games played over the internet, connecting players from various locations in a shared virtual environment. The growing popularity of online games is driven by advancements in technology, widespread internet access, engaging and immersive gameplay experiences, social connectivity, and the availability of diverse game genres catering to various interests and age groups. E-sports betting boosts online gaming popularity by increasing viewer engagement, attracting a wider audience, and generating revenue for the e-sports industry. For instance, in 2022, according to the Department of Foreign Affairs and Trade, an Australia-based federal government responsible for foreign policies and relations, the digital gaming industry was valued at $240 billion worldwide in 2020 and is projected to grow to $294 billion by 2024. In 2021, the industry generated $226.5 million in revenue, marking a 22% increase from 2020, with 83% of this revenue coming from international markets. Therefore, the growing popularity of online games drives the growth of the E-sports betting market.
Transforming Esports Betting With Cutting-Edge Odds And Modeling Technology
Major companies operating in the E-sports betting market are focusing on developing innovative technology, such as odds and modeling feed technology, to enhance betting accuracy, improve user experience, and offer more competitive and dynamic betting options. Odds and modeling feed technology involve using statistical models and algorithms to predict outcomes and optimize decision-making in various applications. For instance, in April 2022, Esports Technologies Inc., a US-based provider of esports products, platforms, and marketing solutions, launched its innovative Odds and Modeling Feed Technology. This cutting-edge technology enables the company to deliver real-time odds and modeling data to its clients, enhancing their ability to make informed betting decisions. The Odds and Modeling Feed Technology leverages advanced algorithms and machine learning techniques to analyze vast amounts of data, providing accurate and up-to-date insights on esports events.
The E-sports betting market covered in this report is segmented -
1) By Betting Types: Pre-Match Betting, Live Or In-Play Betting
2) By Platform Types: Online Betting Platforms, Offline Betting Locations
3) By Application: Ages 18-25, Ages 26-30, Ages 31 And Above
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Major companies operating in the E-sports betting market are Flutter Entertainment Plc, Entain Plc, Bet365, DraftKings Inc., Pinnacle Group Inc., Super Group Ltd., William Hill Plc, Kindred Group Plc, Paddy Power Betfair Plc, Betsson AB, Betfred, SBOBET, Parimatch, 888 Holdings Plc, Bet-at-home.com AG, Betvictor Ltd., Esports Entertainment Group, BetWinner, Intertops, Betcris, Bovada, Unikrn, GVC Group, GG.BET, Real Luck Group Limited
Contents of the report:
1. Executive Summary
2. E-Sports Betting Market Report Structure
3. E-Sports Betting Market Trends And Strategies
4. E-Sports Betting Market - Macro Economic Scenario
5. E-Sports Betting Market Size And Growth
…..
27. E-Sports Betting Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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