Esports Betting - Belgium | Statista Market Forecast

In Belgium, revenue in the Esports Betting market market is projected to reach US$25.2m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.56%, resulting in a projected market volume of US$31.5m by 2029.
Although the United States generates most revenue with a projected market volume of US$721.2m in 2024, in Belgium is also part of this growing sector.
The average revenue per user (ARPU) in Belgium is expected to amount to US$61.3.
In Belgium, the burgeoning interest in esports has led to a notable rise in esports betting platforms, attracting a diverse demographic of gamers and bettors.

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 Belgium is seeing modest growth due to factors like the popularity of digital platforms, growing interest in esports among consumers, and the convenience of online betting. However, subdued growth is being impacted by regulations, limited advertising opportunities, and competition from traditional sports betting.

Customer preferences: With the rise of online gaming and esports, the Esports Betting Market within the eSports Market is experiencing a surge in popularity. This can be attributed to the increasing use of smartphones and other mobile devices, as well as the growth of social media platforms. As a result, the market is seeing a shift towards more convenient and accessible betting options, such as mobile betting apps and online platforms. Additionally, the rise of streaming platforms has made it easier for fans to follow and engage with their favorite teams and players, further driving the growth of the Esports Betting Market.

Trends in the market: In Belgium, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with a growing number of traditional sports betting operators expanding into this space. This trend is driven by the increasing global recognition of esports as a legitimate sport and the rising popularity of competitive gaming. This trajectory is significant for industry stakeholders as it presents new opportunities for revenue growth and diversification. However, it also poses challenges such as regulatory scrutiny and potential risks associated with underage gambling. As the market continues to evolve, it is crucial for stakeholders to carefully navigate these trends and their implications to ensure responsible and sustainable growth.

Local special circumstances: In Belgium, the Esports Betting Market within the eSports Market is influenced by the country's strict regulations on gambling and sports betting. This has led to the emergence of licensed and regulated esports betting platforms, catering to the growing demand for legal betting options. Additionally, the country's strong gaming culture and geographical proximity to major esports events in Europe have also contributed to the growth of the market. The combination of these factors has created a unique landscape for esports betting in Belgium, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market in Belgium is influenced by macroeconomic factors such as the overall economic health of the country, government policies and regulations, and global economic trends. Countries with stable economies and supportive regulatory environments tend to experience higher market growth compared to regions with economic challenges and strict regulations. Additionally, the rising popularity of esports and the increasing number of online gamers are driving the demand for esports betting, making it a lucrative market for investors. Moreover, the growth of the overall esports industry is also expected to positively impact the esports betting market in Belgium.

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.