QY Research has published a new report on the global eSports Betting market. The global eSports Betting market size is projected to reach US$ 18499.0 million by 2026, from US$ 7758.6 million in 2019, at a CAGR of 13.67% during 2021-2026.
Esports (also known as electronic sports, e-sports, or eSports) is a form of competition using video games. Most commonly, eSports takes the form of organized, multiplayer video game competitions, particularly between professional players, individually or as teams. Betting on eSports is more or less identical to betting on traditional sports, with the caveat that the eSports betting product is far less developed than the traditional sports betting product. Players can choose between cash-based or skins-based sites when betting on eSports matches.
Esports have developed rapidly from a niche product towards becoming a mainstream phenomenon. The three regions of Asia, Europe and North America each represent about 30 per cent of the global market. In Europe, the esports market is attracting more stakeholders every year and in 2018 was estimated to be worth EUR 240 million. This is an annual growth rate of 24 per cent since 2016.
Global eSports Betting Market- Key Players
William Hill, GVC Holdings, 888 Holdings, Kindred Group, Betsson AB, Betway, Pinnacle, Bet365, Bet-at-home.com, Unikrn, Betfred, BetWinner, Betvictor, GG.BET, Buff.bet, Intertops, Betcris, Esports Entertainment Group, SBOBET, are some of the key players, functioning in the global eSports Betting market. The industry is fragmented and the top 10 players accounts for about 30% market share.
Global Esports Betting Market: Segmental Analysis
League of Legends, Dota 2, CS: GO are the most popular games among various esports. League of Legends (abbreviated LoL or League) is a 2009 multiplayer online battle arena video game developed and published by Riot Games for Microsoft Windows and macOS. Originally inspired by Defense of the Ancients, the game has followed a freemium model since its release on October 27, 2009. League of Legends is often cited as the world's largest esport, with an international competitive scene. The 2019 League of Legends World Championship had over 100 million unique viewers, peaking at a concurrent viewership of 44 million, with a minimum prize pool of US$2.5 million.
Dota 2 is a multiplayer online battle arena (MOBA) video game developed and published by Valve. The game is a sequel to Defense of the Ancients (DotA), which was a community-created mod for Blizzard Entertainment's Warcraft III: Reign of Chaos and its expansion pack, The Frozen Throne. Dota 2 is played in matches between two teams of five players, with each team occupying and defending their own separate base on the map.
Dota 2 has a large eSports scene, with teams from around the world playing in various professional leagues and tournaments. Valve manages an event format known as the Dota Pro Circuit, which are a series of tournaments that award qualification points for earning direct invitations to The International, the game's premier annual tournament. Internationals feature a crowdfunded prize money system that has seen amounts in upwards of US$30 million, making Dota 2 the most lucrative eSports game. Media coverage of most tournaments is done by a selection of on-site staff who provide commentary and analysis for the ongoing matches, similar to traditional sporting events. In addition to playing live to audiences in arenas and stadiums, broadcasts of them are also streamed over the internet, and sometimes simulcast on television networks, with peak viewership numbers in the millions.
Counter-Strike: Global Offensive (CS: GO) is a multiplayer first-person shooter video game developed by Valve and Hidden Path Entertainment. It is the fourth game in the Counter-Strike series and was released for Windows, OS X, Xbox 360, and PlayStation 3 in August 2012, while the Linux version was released in 2014.
Global Offensive received positive reviews from critics on release, who praised for its gameplay and faithfulness to predecessors, though it was criticized for some of its early features and was noted for differences between the console and PC versions. Since its release, it has drawn in an estimated 11 million players per month, and has gathered an active competitive scene, with many tournaments sponsored by Valve themselves. In December 2018, Valve transitioned the game to a free-to-play model, focusing on revenue from cosmetic items.
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