Esports Betting Sees 170% Growth In 2021

In 2021, the global audience for esports was estimated to reach about 474 million individuals. That number is predicted to rise to 577.2 million people by 2024.

The total amount wagered on esports matches is expected to grow to $16 billion in the next few years. As noted by global sports betting and online casino platform, Uplatform’s report, this is part of the overall growth trend in online betting that has been driven by factors such as people seeking more entertainment online and improved technology that makes placing bets more convenient.

In terms of investments, the numbers come in line with that positive forecast. In 2020, $1.1 billion had already been invested in esports by the middle of the year. This high level of investment could push global esports revenues to over $2.5 billion in 2022. As a reference, when Uplatform stated in 2020, the growth in esports betting was around 130%.

“2021 was a real shock,” said Uplatform’s esports team. “Even with most tournaments and championships being canceled, the esports sector showed more than 170% growth. And we expect even higher numbers in 2022. There is no doubt that esports is attracting more and more attention among bettors.”

Moreover, Uplatform analyzed the profile of the esports bettor. In this sense, the company notes this sector has a more diverse customer base than other types of gambling. While the average esports bettor is frequently assumed to be a youthful gamer, it has also attracted a diverse group of individuals. Uplatform statistics show that 75% of esports bets are made by bettors 23-25 years old, and only 4% of them are female bettors. But taking into account the recent trends, Uplatform experts forecast that in a few years the share of women betting on esports will be around 15%.

The cancellation of many sporting events since 2020 is one of the factors that have pushed a new audience into watching these games and placing bets on them, according to the company. In addition, streaming platforms like Twitch and HitBox have also brought the world of pro gaming closer to a much broader audience. “It’s now easy to catch up with the top gamers in an enjoyable way that suits any lifestyle. It has also helped us acquire a feel for the top teams, providing more insights to predict who will win any of the upcoming games and enhancing the prominence of professional gaming,” the platform provider explains.

(All information was provided by Yogonet)

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