Esports Betting - Africa | Statista Market Forecast

Revenue in the Esports Betting market market withAfrica is projected to reach US$34.4m in 2024.
Revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 5.24%, resulting in a projected market volume of US$44.4m by 2029.
With a projected market volume of US$721.2m in 2024, most revenue is generated the United States.
The average revenue per user (ARPU) in Africa is expected to amount to US$12.2.
In Africa, the burgeoning popularity of esports is driving a rapid expansion in esports betting, particularly among the continent's youth demographic.

Definition:

Esports betting refers to the act of placing wagers on competitive video gaming events. It involves predicting the outcomes of Esports matches or tournaments and placing bets on various aspects, such as the winning team, individual player performances, or specific in-game events. Esports betting has gained significant popularity, with dedicated platforms and bookmakers offering odds and opportunities for enthusiasts to engage in this form of gambling related to the rapidly growing Esports industry.

Additional information:

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of revenue shares of the total betting market. User and revenue figures represent B2C services.

Online betting on the outcome of various Esports matches in games such as League of Legends, Dota 2, CS:GO, etc.
Betting on the overall winners of Esports tournaments in games such as the Dota 2 International or the League of Legends World Championship
Betting on specific events or outcomes in an Esports game, such as the first team to score, the number of kills a player will get, or the length of a match

Online betting on non-Esports related sports, such as football or tennis matches
Offline betting on Esports, such as betting in a physical store

The Esports Betting Market in Africa is seeing subdued growth due to factors such as limited internet access and low disposable income. Despite this, the market is still expected to experience significant growth, driven by increasing interest in online gaming and the convenience of betting on esports events.

Customer preferences: With the growing popularity of eSports in Africa, the Esports Betting Market within the eSports Market is also experiencing significant growth. This can be attributed to the region's increasing youth population and their growing interest in video games and competitive gaming. Additionally, the rise of online gaming platforms and the availability of affordable internet access has made it easier for individuals to participate in eSports betting. This trend is expected to continue as more African countries invest in digital infrastructure and gaming tournaments gain more recognition.

Trends in the market: In Africa, the eSports market is seeing a surge in popularity, driven by the increasing availability of high-speed internet and advancements in technology. This has led to a rise in the Esports Betting Market, with more platforms offering betting options on various esports events. Additionally, there is a growing trend of partnerships between traditional sports teams and esports organizations, further fueling the growth of the market. These trends are significant as they open up new revenue streams for stakeholders and attract a younger audience. However, it also raises concerns about the potential for gambling addiction and the need for responsible betting practices. As the market continues to expand, it will be crucial for industry stakeholders to address these issues and ensure the sustainability of the Esports Betting Market in Africa.

Local special circumstances: In Africa, the Esports Betting Market within the eSports Market is experiencing rapid growth due to the continent's increasing internet and mobile phone penetration rates. Furthermore, the youth population's growing interest in gaming and the rise of local esports tournaments have contributed to the market's success. However, the lack of proper regulations and infrastructure in some African countries poses challenges for the market's development. Additionally, cultural preferences and traditional attitudes towards gambling may also impact the adoption of esports betting in certain regions.

Underlying macroeconomic factors: The growth of the Esports Betting Market within the eSports Market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with strong economic growth and stable fiscal policies tend to have a larger market for esports betting, as they have a larger disposable income and a higher adoption rate of online gaming. Additionally, countries with a favorable regulatory environment for online gambling also experience faster growth in the esports betting market, as it allows for easier access and less restrictions for players. The increasing popularity of esports and the rise of a younger, tech-savvy population also contribute to the growth of the market, as they are more likely to engage in online betting activities.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Esports betting market, which comprises revenues from online betting on Esports events. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

The rapidly growing phenomenon surrounding eSports continues to gather steam. The intersection of gaming and sports offers an innovative wave of branding opportunities, engaging content and activations for millions across the world. It therefore comes as no surprise that the size of the global eSports market is expected to increase more than fivefold between 2023 and 2032, reaching a value of over 10 billion U.S. dollars within the next ten years.