eSports Betting is an industry that is reported to be worth over $2.5 Billion Dollars in 2024 and is projected to grow up to $3.2 Billion by 2028. However, the story of the eSports betting industry is not simple.  There is a history of shady unregulated bookmakers and even record-breaking sponsorship deals. The world of eSports betting has seen it all. 

Today, we have tournaments such as the eSports World Cup which has a $60 million prize pool, tens of thousands of fans watching in person, and millions watching online. In traditional sports, everyone would be placing a bet, but these are pro athletes too, so why isn’t that happening in esports? 

In recent years, eSports has grown from a niche hobby to a global phenomenon, with millions of fans tuning in to watch competitive gaming tournaments. As eSports has surged in popularity, so too has its impact on the betting industry. eSports betting is quickly becoming one of the fastest-growing sectors in the world of online gambling.

eSports Betting – One Of The Fastest-growing Sectors Of Online Gambling

eSports betting refers to placing wagers on the outcome of video game competitions. These competitions often involve professional gamers or teams competing in games such as League of Legends, Dota 2, Counter-Strike 2, Fortnite, Call of Duty, and Valorant. Just like traditional sports betting, fans can place bets on a variety of outcomes, including match winners, game totals, and specific in-game events. The eSports betting market has exploded in the past few years due to several factors, including the global growth of eSports as a spectator sport, the rise of online betting platforms, and the increasing number of major tournaments and leagues.

eSports betting was forced to evolve around 2015 when Valve effectively banned skin betting, and real bookmakers started getting more involved. At the start, players could only bet on the winner of the match, but platforms would soon add additional ways to play including betting on individual maps, player performance, and more.

In 2024, eSports betting is extremely similar to sports betting. Not only do they share the same bookmakers such as DraftKings, Bet365, and more, but they also share similar markets to bet on. 

For example, if you’re looking to bet on a Major Counter-Strike 2 match, you have Moneyline options, Handicaps, Over/Under on Maps, Kills, Rounds, etc. You can bet on almost every facet of the game, even how many times the bomb will be defused.

Why Is eSports Betting Gaining Popularity? 

• Global eSports Growth

eSports is no longer limited to a small group of players and fans. The eSports industry is expected to generate over $1 billion in revenue in 2024, with a significant portion of this coming from media rights, sponsorships, and merchandise. Major tournaments such as The International (Dota 2) and League of Legends World Championship have attracted millions of viewers, comparable to the audiences of major traditional sports events. This global reach has created a fertile ground for eSports betting.

• Younger Demographic

One of the main reasons eSports betting is booming is its appeal to a younger demographic. Unlike traditional sports, eSports appeals to a generation of digital natives who are highly familiar with online gaming and the mechanics of competitive play. These younger bettors are not only passionate about watching their favorite gamers compete but are also eager to place bets on the outcomes of these events.

• Availability of Online Betting Platforms

The rise of online betting platforms has made it easier than ever for fans to place bets on eSports events. With the increasing accessibility of mobile apps and online sportsbooks, eSports betting is now just a few clicks away for anyone with an internet connection.

• eSports as a Legitimate Sport

eSports is now widely recognized as a legitimate sport, with major tournaments drawing in massive audiences and even earning coverage on traditional sports networks. The level of skill and strategy involved in competitive gaming is comparable to that of traditional sports, which has helped to elevate eSports into the mainstream. As more people see eSports as a legitimate sport, the demand for betting on these events naturally grows.

• Variety of Games and Betting Options

eSports encompasses a wide range of video game genres, from MOBAs to FPS games, each offering different gameplay styles and competitive formats. This diversity allows casinos and bookmakers to provide a wide array of betting markets, including:

• Match winner: Betting on which team will win a particular match.
• Map winner: In games like CS or LoL, matches are played across several maps or games. Bettors can wager on the winner of an individual map.

1. First kill or objective 

Betting on which player or team will score the first kill or achieve the first in-game objective, such as destroying a tower in League of Legends.

Total number of kills or objectives: Betting on the total number of kills or in-game objectives completed by a player or team.

2. Engaging Viewing Experience

One of the unique aspects of eSports is the highly interactive and engaging viewing experience. Platforms like Twitch and YouTube allow fans to watch matches live, chat with fellow viewers, and even receive real-time data on in-game events. This creates an immersive environment that is perfect for live betting. Bettors can watch matches unfold and place bets as the action happens, making the experience even more thrilling.

3. Sponsorship and Partnerships 

Major casinos and online sportsbooks have started sponsoring eSports teams and tournaments, further solidifying the relationship between the gambling industry and esports. This has helped raise awareness of eSports betting and legitimized it as a mainstream gambling activity. For example, major betting companies now offer dedicated eSports betting sections on their platforms, with live odds, match statistics, and betting tips.

Popular eSports to Bet On 

eSports betting refers to wagering on competitive video gaming events. These events, known as eSports tournaments or matches, feature professional players and teams competing in various video games across multiple genres. The games that dominate eSports betting markets include popular titles such as: 

• League of Legends (LoL): A multiplayer online battle arena (MOBA) game where teams of five players compete to destroy the enemy’s base. The game is known for its strategic depth and fast-paced action.
• Dota 2: Another MOBA game, similar to League of Legends but with its unique mechanics and game structure, offering a rich competitive scene and large prize pools.
• Counter-Strike: Global Offensive (CS): A first-person shooter (FPS) game that pits two teams against each other in a variety of tactical objectives, such as planting and defusing bombs.
• Overwatch: A team-based shooter with unique heroes, combining strategy and skill-based gameplay.
• Fortnite: A battle royale game where players fight to be the last person or team standing, featuring large, chaotic battles and fast-paced gameplay.
• Call of Duty: A popular FPS game known for its multiplayer and eSports scene.
• Valorant: Valorant is a newer addition to the eSports scene, but it has quickly become one of the most popular games for competitive play. As a tactical first-person shooter, Valorant offers unique betting opportunities based on match outcomes, team strategies, and player performances.

In eSports betting, punters can place bets on the outcome of matches, tournaments, individual players’ performances, and other game-specific events, much like traditional sports betting. With eSports attracting millions of viewers globally, it’s no surprise that the demand for eSports betting has surged.

How to Bet on eSports 

Betting on eSports is similar to betting on traditional sports, but there are some key differences. Here are the steps to get started with eSports betting:

• Choose a Reputable Betting Platform

The first step to betting on eSports is to choose a trusted and licensed sportsbook that offers eSports betting. Websites that offer a wide variety of eSports events and markets, ensuring you can place bets on your favorite games.

• Understand the Odds

eSports betting odds can vary between games and platforms. As with traditional sports betting, understanding how odds work is essential for making informed bets. Odds can be expressed in decimal, fractional, or American format, so make sure you’re familiar with the different types.

• Research the Teams and Players

To make successful bets, it’s important to research the teams, players, and recent performance trends. Just like in traditional sports, understanding the current form and strategies of the teams or players can give you a significant advantage when placing your bets.

• Set a Budget and Stick to It

As with any form of gambling, it’s essential to set a budget and stick to it. Betting responsibly ensures that you can enjoy the excitement of eSports betting without risking more than you can afford to lose.

The eSports Betting Market

The eSports Betting market within the eSports market worldwide is experiencing mild growth, influenced by factors such as the growing popularity of digital platforms, increasing interest in competitive gaming, and the convenience of online betting options. This growth rate is impacted by the increasing number of tournaments and events, as well as the rising number of partnerships and sponsorships in the industry.

• Customer preferences

As the popularity of eSports continues to grow, so does the demand for eSports betting. One notable trend in consumer preferences is the increasing use of cryptocurrency for esports betting transactions. This is due to its anonymity and convenience, especially for younger generations who are more tech-savvy. Additionally, the rise of mobile gaming has also led to a surge in mobile eSports betting, allowing consumers to bet on their favorite games anytime, anywhere. These shifts reflect the increasing digitalization and tech-driven lifestyle of modern consumers.

• Trends in the market

In the eSports industry, the global shift towards online tournaments and events has led to a surge in the popularity of eSports betting. This trend is expected to continue as more traditional sports betting platforms expand into the eSports market. Additionally, the rise of mobile gaming and the increasing accessibility of eSports through smartphones has opened up new opportunities for betting. These developments have significant implications for stakeholders, including increased revenue potential for eSports organizations and greater engagement from fans. However, concerns over the potential risks of gambling addiction and the need for regulation remain key challenges for the industry.

• Local special circumstances

In Asia, the eSports betting market is experiencing rapid growth due to the region’s enthusiastic gaming culture and strong online infrastructure. South Korea, in particular, stands out for its thriving eSports industry, supported by a large number of professional teams and tournaments. In Europe, the market is heavily influenced by different regulatory frameworks across countries, with some allowing for more lenient betting laws. In contrast, countries like Germany have strict regulations in place, hindering the growth of the market. Additionally, cultural differences play a significant role in the popularity of specific games and betting practices, with games like League of Legends being more popular in Asia, while first-person shooters dominate the North American market.

• Underlying macroeconomic factors

The eSports Betting Market within the eSports Market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with stable and growing economies are experiencing a rise in demand for eSports betting, as consumers have more disposable income to spend on leisure activities. In addition, favorable regulatory environments and government support for the eSports industry are also contributing to the growth of the market. Furthermore, the increasing popularity of eSports and the growing millennial population are driving the demand for eSports betting, as they are the primary target demographic for this market.

How Casinos Have Embraced eSports Betting

Casinos, both land-based and online, have been quick to recognize the potential of esports betting. Many of the world’s largest casino operators have begun integrating esports into their offerings in the following ways:

• eSports Betting Platforms

Online casinos and sportsbooks have introduced dedicated esports betting platforms, allowing users to place bets on a wide variety of esports events. These platforms often feature live streams of matches, real-time odds updates, and a range of betting markets specific to esports games.

• eSports Arenas

Some land-based casinos, particularly in cities like Las Vegas, have built dedicated esports arenas where fans can watch live tournaments and place bets. These arenas are equipped with state-of-the-art technology, large screens, and spectator seating, creating a thrilling environment similar to traditional sports betting lounges.

• Mobile Integration

With the increasing shift towards mobile gambling, many casinos have optimized their esports betting platforms for smartphones and tablets. This allows bettors to place wagers on the go, watch live streams, and access up-to-date statistics, all from their mobile devices.

• eSports-Themed Promotions

To attract new bettors, many casinos have introduced esports-themed promotions and bonuses. These can include free bets on esports matches, deposit bonuses, and exclusive offers for major esports events.

Who Is Betting On eSports?

While esports betting is expanding globally, some regions are leading the charge. The United States, boosted by state-level legalisations of sports betting, is one of the largest and fastest-growing markets for esports wagers. Analysts predict the U.S. esports betting market could reach $1.1 billion by 2028. Europe also shows strong growth, with Germany, the United Kingdom, and Sweden as key players. Meanwhile, in Asia, South Korea and China are driving significant revenues, where the gaming culture is deeply ingrained.

eSports fans tend to be younger than traditional sports bettors, with the average age of an esports spectator being 26. This younger demographic is tech-savvy, enjoys video games, and has a strong connection to the digital world. Men currently make up the majority of esports bettors, but as esports becomes more inclusive, the gender gap may narrow. 

Esports’ growing popularity as a legitimate form of entertainment is illustrated by its increased integration into mainstream culture. The International Olympic Committee (IOC) recently announced the creation of the Olympic Esports Week, a major milestone in recognising esports on a global, prestigious platform. This shift signals esports’ crossover into spaces traditionally reserved for physical sports. Popular games now boast massive international tournaments, propelling esports into the mainstream entertainment arena. Games like “CS:GO,” “Dota 2,” and “League of Legends” consistently rank among the top choices for bettors, especially during major matches. These events not only attract millions of viewers but also billions in wagered money.

The Future Outlook For eSports Betting At Casinos

Looking ahead, the integration of esports betting within casinos shows no signs of slowing down. Industry analysts predict steady growth as more operators recognize the potential benefits and invest in developing robust platforms to support this trend. The synergy between traditional casino games and modern esports betting could pave the way for innovative hybrid experiences that appeal to diverse audiences. By embracing this trend, casinos can attract new customers, enhance their offerings, and remain competitive in an evolving landscape. This is an essential trait that all casinos must possess to overcome and adapt to the competition in this challenging landscape. Modern esports betting is one of the future forms of wagering that needs to be recognized.