Key regions: India, Sweden, United Kingdom, Asia, Germany
The Esports Betting market in BRICS nan is experiencing mild growth, driven by factors such as increasing interest in esports, growing awareness of online betting, and the convenience of digital platforms. This market's growth rate is impacted by various factors, including government regulations, player base, and technological advancements.
Customer preferences: With the growing popularity of eSports, there has also been a rise in the interest and participation of fans in the Esports Betting Market. This trend has been further accelerated by the increasing accessibility of online betting platforms and the ease of placing bets through mobile devices. Additionally, the emergence of new technologies such as blockchain and virtual reality has enabled more immersive and secure betting experiences for consumers. This shift towards digital betting options is driven by the desire for convenient and real-time access to betting opportunities, as well as the potential for larger payouts and a wider range of betting options.
Trends in the market: In BRICS, the Esports Betting market is experiencing a surge in popularity, with Brazil and China leading the way. This is driven by the increasing accessibility of esports tournaments and the growth of online streaming platforms. Additionally, there is a trend towards the integration of traditional sports and esports, creating new opportunities for betting. This trajectory is significant as it opens up new revenue streams for industry stakeholders and attracts a wider audience. However, it also raises concerns about the potential for addiction and the need for responsible gambling measures. In the future, we can expect to see continued growth in the Esports Betting market, with a focus on responsible gambling and regulatory frameworks.
Local special circumstances: In Brazil, the Esports Betting market is thriving due to the country's large population of avid gamers and the increasing popularity of Esports tournaments. Additionally, Brazil has a strong gambling culture, with sports betting being legal and widely accepted. This, coupled with the country's growing middle class and their interest in convenient and affordable entertainment options, has led to the rise of online Esports betting platforms. Moreover, Brazil's regulatory landscape allows for a diverse range of Esports betting options, including live betting and virtual Esports, further driving the market's growth.
Underlying macroeconomic factors: The Esports Betting Market within the eSports Market is impacted by macroeconomic factors such as the overall economic health of the BRICS countries, global financial trends, and government fiscal policies. Countries with stable economies and supportive regulatory frameworks for esports are experiencing significant growth in the market, while those with economic challenges and regulatory barriers are facing slower growth. Additionally, the increasing popularity of esports and the growing accessibility of technology are driving the demand for esports betting, creating a favorable market landscape for growth and expansion.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
