The viewership numbers within the eSports industry have continued to break records year on year. Therefore, the number of betting opportunities available have also increased accordingly.
Considering the worth of the esports industry itself , there’s no wonder that so many people are making decent money from betting on the teams that are competing each week. This post will outline some of staggering facts about the size of the eSports betting industry.
eSports Betting Revenues in 2020
In 2020, eSports gambling revenues are expected to rise dramatically as more gamblers are making the switch from regular sports. This was most likely caused by the mass cancellations of live sporting events due to the coronavirus.
According to IGB, gross wins from eSports betting are expected to hit $343 million by the end of 2020, and currently eSports betting accounts for roughly 2.1% of sports bets placed across the globe.
Europe is leading the charge with over $150 million worth of the share, followed closely by Asia with around $140 million.
By 2024, H2 predict that the market will generate over $862 million in gross win revenue, to increase it’s share of the global betting industry to around 3.2%.
How Many Games Can You Bet On?
Within the eSports industry there are dozens of different games that you can bet on, which grows every year as new games are released. For example, Valorant is a brand-new tactical shooter released in mid-2020 that is already beginning to make its mark on the industry.
As competitive gaming continues to expand, the betting industry experiences a similar growth, which also means bigger cash prizes for winners, so knowing who and how to bet on esports is essential for anyone wanting to begin or improve their esports betting chances.