Key regions: India, Sweden, United Kingdom, Asia, Germany
The Esports Betting Market in Kenya is seeing minimal growth, impacted by factors such as limited access to digital technologies and lower awareness among consumers. Despite this, the convenience of online betting services is driving some growth.
Customer preferences: As the popularity of esports continues to grow in Kenya, there has been a notable increase in the demand for esports betting. This trend can be attributed to the rise of a tech-savvy younger generation and the widespread use of mobile devices. Additionally, the country’s strong gambling culture has led to a natural transition towards online betting, with esports providing a new and exciting avenue for betting. The convenience and accessibility of online betting platforms have also contributed to the rise of esports betting in Kenya.
Trends in the market: In Kenya, the Esports Betting Market is experiencing a surge in popularity, with an increasing number of online platforms offering betting services for various esports tournaments. This trend is driven by the growing interest in esports among the younger demographic, as well as the availability of high-speed internet and mobile devices. In terms of trajectory, this trend is expected to continue to rise, with a projected annual growth rate of 13.2% in the African esports market. This is significant for industry stakeholders, as it presents a lucrative opportunity for partnerships and investments in the region. However, there may also be potential implications for responsible gambling practices and regulation as the market grows.
Local special circumstances: In Kenya, the Esports Betting Market within the eSports Market is influenced by the country's high internet and mobile phone penetration rates, making it a prime market for online betting. Additionally, the country's young population and growing interest in video gaming have contributed to the rise of the esports industry. However, the lack of clear regulations and government support has hindered the market's growth potential. This creates a unique dynamic, where the market is still in its early stages but has the potential to scale quickly with the right infrastructure and regulatory framework in place.
Underlying macroeconomic factors: The Esports Betting Market in Kenya is greatly influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. Kenya has a rapidly growing economy and a supportive government, making it an attractive market for Esports Betting. Additionally, the rise of digitalization and technological advancements in Kenya have created a favorable environment for the growth of the Esports Betting Market. This, coupled with the increasing demand for online entertainment and a young tech-savvy population, is expected to drive the growth of the Esports Betting Market in Kenya in the coming years.
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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