December 30, 2024 (Investorideas.com Newswire) For years, esports betting has been a significant revenue driver in the industry, bringing more value than any other market segment. With the growing popularity of competitive gaming, which attracts millions of young, tech-savvy viewers, and gaming platforms like YouTube Gaming and Twitch making esports more accessible, this trend shows no signs of slowing.
According to data presented by Betideas.com, esports betting is expected to drive nearly 60% of market revenue by 2029.
Revenue Share Jumped from 50% to 59% in a Decade
In 2024, almost 730 million people watched esports, a number projected to reach almost 900 million by the end of a decade. This massive audience, drawn to esports' dynamic and interactive nature, is a natural fit for betting growth, and Statista data proves this.
In 2017, esports betting had around 22 million users and generated $600 million, making up half the market's total. By 2020, its market share remained unchanged, although revenue surged by 40% and hit over one billion dollars for the first time. However, the past four years have seen an explosive growth of the esports betting industry. The user base doubled to 74 million, while revenues skyrocketed by 150% and hit $2.5 billion in 2024, four times the figure reported in 2017. Also, this represents 57% of the esports industry's total revenue this year.
While growth will moderate after recent record-breaking years, the entire sector is expected to reach $3.5 billion, growing at a compound annual growth rate (CAGR) of 6.7%. Its market share will also increase in this period. Projections show esports betting's share of total industry revenue will climb to 59%, marking a 9% increase over the decade.
More than 95 million People to Bet on Esports by 2029
The esports betting community, primarily composed of younger, tech-savvy individuals, has grown tremendously. Since 2017, more than 50 million people started placing bets on esports, bringing the total number of users in the market close to 75 million.
Thanks to the rise of user-friendly, innovative betting platforms and the surging popularity of esports, this figure is set to soar to nearly 95 million by 2029, with an additional 20 million users entering the fold.
Statista data also show that the United States leads the way in esports betting, currently home to the largest share of bettors. By 2029, nearly 20 million Americans will bet on esports, representing one-fifth of the global total and marking an increase of 7 million from 2024. Far below, the United Kingdom and South Korea follow with 4.6 million and 2 million users in 2029, respectively.
More Info:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Like Gaming Stocks? View our Gaming Stocks Directory Get News Alerts on Gaming Stocks
