Esports Betting - Peru | Statista Market Forecast

In Peru, revenue in the Esports Betting market market is projected to reach US$8.0m in 2024.
This revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 4.93%, leading to a projected market volume of US$10.2m by 2029.
Although the majority of revenue is generated the United States, in Peru is also experiencing growth in this sector.
The average revenue per user (ARPU) in Peru is expected to amount to US$26.9.
Peru's rapidly growing esports community is fostering increased interest in esports betting, highlighting a shift in entertainment preferences among younger demographics.

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 Peru within the eSports Market is seeing limited growth due to factors such as slow adoption of digital technologies, lower awareness of health among consumers, and lack of convenience in online betting services. Despite this, the market is still experiencing steady growth.

Customer preferences: The rising popularity of esports has led to an increase in demand for esports betting, as fans seek to further engage with and support their favorite teams and players. This trend is further fueled by the growing accessibility of online betting platforms and the rise of mobile gaming, making it easier for consumers to place bets on the go. Additionally, the emergence of new esports leagues and tournaments in Peru has opened up new opportunities for betting, attracting a diverse audience of both casual and professional gamers.

Trends in the market: In Peru, the Esports Betting Market is experiencing a surge in popularity, with an increasing number of people participating in online betting and tournaments. This trend is expected to continue as the country's gaming industry continues to grow. In the global eSports market, betting has become a major source of revenue, with industry leaders such as Betway and Unikrn offering a wide range of betting options. This trend is significant as it not only generates revenue for the industry, but also attracts more sponsors and investors. For industry stakeholders, this trend presents opportunities for growth and innovation, but also poses challenges in terms of regulations and responsible gambling practices. As the trend continues to evolve, it will be crucial for industry stakeholders to adapt and stay ahead of the curve in order to remain competitive in the market.

Local special circumstances: In Peru, the Esports Betting market is rapidly growing due to the country's increasing internet penetration and the rising popularity of video gaming. Additionally, Peru has a large young population that is highly engaged in Esports, making it a prime market for Esports Betting. The regulatory environment in Peru also plays a crucial role, as there are currently no specific laws governing Esports Betting, allowing for its easy adoption and growth. Furthermore, Peruvian culture places a strong emphasis on competition, making Esports a natural fit for the country.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market in Peru is heavily influenced by macroeconomic factors such as the country's economic health, fiscal policies, and global economic trends. Peru's strong economic growth and stable political climate have created an environment conducive to market growth. Additionally, the increasing popularity of esports and the rise of internet connectivity in the country have also contributed to the growth of the Esports Betting Market. However, challenges such as limited access to banking and financial services and regulatory barriers may hinder the market's full potential. Overall, the market's growth is expected to be driven by technological advancements, favorable regulatory environments, and increasing demand for online entertainment in Peru.

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.