Esports Betting - Finland | Statista Market Forecast

In Finland, revenue in the Esports Betting market market is projected to reach US$13.5m in 2024.
The revenue in this sector is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 5.01%, which will result in a projected market volume of US$17.2m by 2029.
While most revenue is generated the United States, Finland's market is also significant, with a projected market volume of US$721.2m in 2024.
The average revenue per user (ARPU) in Finland is expected to amount to US$55.7.
In Finland, the Esports betting market is witnessing a surge in popularity, reflecting the nation’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 Market in Finland has shown modest growth in recent years, with the Esports Betting Market contributing to this trend. Factors such as increasing interest in digital entertainment and the convenience of online betting services have impacted the market growth rate.

Customer preferences: The rise of streaming platforms has fueled the growth of the Esports Betting Market within the eSports Market in Finland. With the increasing popularity of online gaming and streaming, consumers are now looking for more interactive and immersive experiences. This has led to a surge in demand for virtual reality (VR) and augmented reality (AR) technologies in the gaming industry. Additionally, the integration of AI and machine learning in gaming has also gained traction, providing personalized and adaptive gaming experiences.

Trends in the market: In Finland, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with an increasing number of individuals participating in online gaming and esports tournaments. This trend is expected to continue as the country has a strong gaming culture and a high level of internet penetration. Additionally, there is a growing trend towards mobile esports, with the launch of mobile-friendly esports titles and the rise of mobile esports betting platforms. This trend is significant as it allows for greater accessibility and convenience for players and bettors, leading to potential growth in the Esports Betting Market. Industry stakeholders should take note of this trend and adapt their strategies to cater to the growing demand for mobile esports and esports betting in Finland.

Local special circumstances: In Finland, the Esports Betting Market is thriving due to the country's strong history and culture in gaming. The popularity of eSports in Finland has led to a larger audience for betting, with a particular focus on team-based games such as Dota 2 and Counter-Strike: Global Offensive. Additionally, Finland has a well-developed internet infrastructure and high internet penetration, making it a prime market for online betting platforms. However, strict gambling regulations may hinder the growth of the market, as Finland requires all gambling operators to hold a license from the government. This creates a unique environment for eSports betting, as it must comply with both gambling and eSports regulations.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market is impacted by macroeconomic factors such as the overall global economic climate, the stability of the national economy in Finland, and fiscal policies that affect consumer spending habits. Other financial indicators such as interest rates, inflation, and unemployment rates also play a role in the performance of the market. Countries with strong economies and favorable fiscal policies may see a higher demand for esports betting, while countries with economic challenges may experience slower growth in the market. Additionally, the availability of disposable income and consumer confidence also influence the demand for esports betting in Finland.

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.