Esports Betting - Denmark | Statista Market Forecast

In Denmark, revenue in the Esports Betting market market is projected to reach €19.2m in 2024.
The revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 4.83%, which will lead to a projected market volume of €24.6m by 2029.
Although most revenue is generated the United States, Denmark's market is also significant, with a projected market volume of €668.8m in 2024.
Furthermore, the average revenue per user (ARPU) in Denmark is expected to amount to €70.5.
In Denmark, the Esports betting market is experiencing a surge in interest, reflecting the country's growing enthusiasm for competitive gaming and online wagering.

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 Denmark, within the eSports Market, is seeing subdued growth due to various factors including limited regulations and consumer hesitancy towards online betting. Despite this, increasing interest in esports and the convenience of online betting are expected to drive growth in the market.

Customer preferences: With the rise of online gaming and the growing popularity of esports, the demand for esports betting has also increased. This trend is especially prominent in Denmark, where the government has legalized and regulated esports betting. As a result, consumers are increasingly turning to online platforms to place bets on their favorite teams and players, rather than traditional sports betting. This shift can be attributed to the convenience and accessibility of online betting, as well as the younger demographic of esports enthusiasts who are more familiar with digital platforms. Additionally, the rise of live streaming and in-game betting options has further fueled the growth of the esports betting market.

Trends in the market: In Denmark, the Esports Betting market is experiencing a surge in popularity, with more traditional sports betting companies expanding into the market. This trend is driven by the increasing popularity of esports and the potential for high profits in the betting sector. Additionally, there is a growing trend towards online betting platforms and mobile apps, making it easier for consumers to access and participate in esports betting. This shift towards digital platforms also has implications for industry stakeholders, as they must navigate regulatory and ethical considerations in this emerging market.

Local special circumstances: In Denmark, the Esports Betting market is thriving due to the country's tech-savvy population and strong internet infrastructure. The Danish culture values competitiveness and innovation, making it a natural fit for the fast-paced and constantly evolving world of esports. Additionally, the country has a well-regulated gambling industry, providing a safe and secure environment for esports betting. Furthermore, Denmark's small size and close-knit community contribute to a strong sense of community within the esports scene, driving participation and interest in the betting market.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market in Denmark is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's strong economy and stable political environment have created a favorable regulatory environment for the growth of the market. Additionally, the increasing popularity of esports and the rise of online gaming platforms have led to a surge in demand for esports betting, further driving market growth. Furthermore, the growing number of tech-savvy youth in Denmark and the country's high internet penetration rate are also contributing to the market's success.

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.

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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.