Market Insights Advertising & Media Esports

Esports Betting - EU-27

EU-27

In the EU-27, revenue in the Esports Betting market market is projected to reach US$0.7bn in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.15%, culminating in a projected market volume of US$0.9bn by 2029.
While the projected market volume in 2024 is US$721.2m, most revenue is generated the United States.
The average revenue per user (ARPU) in this market is anticipated to amount to US$55.3.
As the EU-27 continues to embrace digital innovation, esports betting is rapidly becoming a prominent segment of the region's online gambling landscape.

Key regions: India, Sweden, United Kingdom, Asia, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

The Esports Betting market in the EU-27 has seen a slow growth rate due to factors such as regulatory challenges, limited access to traditional sports betting markets, and lack of awareness among consumers. Despite this, the market is expected to experience steady growth in the coming years as more countries legalize and regulate online betting in the esports industry.

Customer preferences: The rising popularity of esports has led to a growing interest in esports betting, with a particular focus on in-game items and virtual currencies. This trend is driven by a younger demographic that is highly engaged in gaming culture and comfortable with digital transactions. As the esports industry continues to gain mainstream recognition, the global esports betting market is expected to see significant growth in the coming years.

Trends in the market: In the EU-27, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with a growing number of players and viewers. This trend is fueled by the rising demand for online entertainment and the increasing accessibility of gaming platforms. As a result, there is a growing interest in the development of new technologies and platforms to further enhance the Esports Betting experience. Additionally, there is a growing trend of partnerships between traditional sports teams and Esports organizations, further legitimizing the industry. These developments are significant for industry stakeholders as it presents new opportunities for growth and revenue. However, it also brings potential regulatory challenges and concerns around responsible gambling practices.

Local special circumstances: In EU-27, the Esports Betting Market within the eSports Market is gaining traction due to the region's high internet and smartphone penetration rates. However, the market is hindered by strict gambling regulations in some countries, limiting the growth potential. In contrast, countries like Sweden and Malta have more favorable regulations, leading to a thriving market. Additionally, cultural attitudes towards gambling also play a role, with countries like Germany and France having more conservative views, while the UK has a more accepting attitude towards betting.

Underlying macroeconomic factors: The performance 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 financial indicators. Countries with strong economies and supportive fiscal policies are experiencing faster market growth compared to regions with economic challenges and limited government funding. Additionally, the increasing popularity of esports and the growing number of gaming enthusiasts globally are driving the demand for esports betting, as it offers a unique and exciting way to engage with the gaming community. This trend is expected to continue as the esports industry continues to grow and gain mainstream recognition.

Methodology

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.