Esports Betting - Mexico | Statista Market Forecast

In Mexico, revenue in the Esports Betting market market is projected to reach US$54.3m in 2024.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 5.31%, leading to a projected market volume of US$70.3m by 2029.
In contrast, a projected market volume of US$721.2m is anticipated the United States for 2024, where most revenue is generated.
The average revenue per user (ARPU) in Mexico is expected to amount to US$28.6.
In Mexico, the Esports betting market is rapidly evolving, driven by increasing youth engagement and a rising acceptance of online gambling platforms.

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 Mexico is seeing subdued growth due to factors such as low consumer awareness and limited regulatory framework. Despite this, the market is expected to grow as digital technologies become more widely adopted and online services offer convenience to bettors.

Customer preferences: As the popularity of eSports continues to rise in Mexico, there has been a noticeable increase in the demand for eSports betting among young adults. This trend is further fueled by the growing interest in online gaming and the use of digital platforms for entertainment and leisure. Additionally, the emergence of a tech-savvy and digitally connected generation has led to a significant shift towards online betting and gambling, as well as a preference for convenient and accessible forms of entertainment.

Trends in the market: In Mexico, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with a growing number of online betting platforms catering to the country's gaming community. This trend is expected to continue as the overall eSports industry continues to grow and attract more viewers and participants. Industry stakeholders, such as gaming companies and betting platforms, are capitalizing on this trend to expand their reach and revenue streams. However, this also raises concerns about potential regulatory challenges and responsible gambling practices, which will need to be addressed to ensure the sustainable growth of the market.

Local special circumstances: In Mexico, the Esports Betting Market within the eSports Market is heavily influenced by the country's strong gaming culture and the popularity of competitive gaming among young adults. The market is also impacted by the country's strict gambling laws, which limit the scope of traditional sports betting but have not yet addressed the emerging popularity of esports betting. Additionally, the market is shaped by Mexico's growing digital infrastructure, with a large percentage of the population having access to high-speed internet and mobile devices, making it easier for esports fans to engage in online betting.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market in Mexico is heavily influenced by macroeconomic factors such as the overall economic health of the country, global economic trends, and fiscal policies. The growth of the market is also impacted by government regulations, investment in digital technologies, and the availability of advanced infrastructure. Countries with favorable regulatory environments and strong investment in the esports industry are experiencing faster market growth compared to regions with regulatory challenges and limited financial support. Additionally, the increasing popularity of esports and the growing number of young, tech-savvy consumers are driving the demand for esports betting, making Mexico a promising market for growth in this sector.

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.