According to recent research from Valuates Reports, the global esports market size is expected to grow to roughly $1.86 billion by 2026. This signifies a massive increase in value from 2019 when the market was worth $691.6 million.
“Beginning with the lockdowns that came with the pandemic, gamblers shifted away from the traditional betting areas due to the impact of the coronavirus pandemic on live sports, and they moved towards other betting properties such as esports,” it reads on the FinancialNewsMedia website. “Many gamblers who had never tried betting on esports before, found a new way to spend… and new and exciting ways to bet! According to global consumer surveyors 2CV and market analysts ProdegeMR, this rise in newcomers is why the Esports global gambling revenue was set to double to US$14 billion in 2020. In recent years, esports has exploded into the mainstream, moving from a niche to a central form of entertainment across the globe, and ticket sales are shifting from the arena to the internet. While esports may have once stood for a subset of sporting culture, it has become a complete industry in its own right with the current developments.
In 2020, the global esports betting market was valued at $12.67 billion. This number is expected to hit $20.73 billion by 2027, registering a CAGR of 13.1% during this forecast period.
(All information was provided by PR Newswire)