Esports wagering has exploded in popularity over the last few years, driving innovation in the broader sports betting industry. As esports continues its meteoric rise, it is dragging traditional sportsbooks to appeal to a new generation of bettors.
Here is the updated table with the provided data:
| Year | Estimated Esports Audience | Total Esports Wagers |
| 2016 | 191 million | $649 million |
| 2020 | 495 million | $14.4 billion |
| 2025 | 646 million (projected) | $31.9 billion (projected) |
In 2023, the global esports audience is projected to reach 574 million, comprising 283 million core enthusiasts and 291 million occasional viewers. Exploding Topics+2ASO World+2DemandSage+2
The esports audience is expected to surpass 650 million people by 2025. And with the growing viewership has come a parallel surge in esports betting activity. After just $649 million was wagered on esports in 2016, that figure ballooned to over $14 billion in 2020 alone. Industry analysts predict esports wagers could top $31 billion annually by 2025.
Millennials and Gen Z Drive Growth in Esports Betting
The rapid increase in esports betting volume is being fueled by surging interest in esports among Millennial and Gen Z audiences. These digital native generations are much more likely than their elders to watch competitive video gaming. And with most esports fans of Boomerang Wetten still under the age of 35, the growth runway is long for esports wagering.
Platforms like Twitch have made esports extremely accessible for young viewers. And betting operators are taking advantage by offering wagering on everything from League of Legends matches to CS:GO tournaments. Millennials comfortable with smartphone apps and online banking have eagerly adopted esports betting.
What Traditional Sportsbooks are Doing to Compete
While newcomers like Unikrn built their sportsbooks specifically with esports in mind, traditional bookmakers have had to adapt quickly to capture a share of this burgeoning market. Established European operators like Betway and Bet365 now allow customers to wager on esports alongside mainstream sports. And these traditional shops are getting creative with esports bonuses and promotions to attract new bettors.
Some long-time sports betting purveyors were initially cold on esports wagering. But with esports raking in billions in bets, converts like William Hill and PointsBet have completely reversed course. After buying out two esports betting startups, PointsBet is now going all-in on competitive video gaming.
The Las Vegas Strip has also embraced esports action. In recognition of the new center of sports culture, massive sportsbooks at casinos like Caesars Palace have dedicated staff and resources solely to esports betting.
Esports Betting Features that Sportsbooks Must Add
To truly cater to Millennials and Gen Z, traditional bookmakers must make their platforms more esports-friendly. Here are some of the must-have features and betting options to attract esports bettors:
More Esports Variety
Gone are the days where a sportsbook could get away with just offering League of Legends or CS:GO wagering. Fans following rising esports like Valorant and Rocket League expect betting on those titles. Unique proposition bets on things like fastest game time or most eliminations also drive esports betting engagement.
Flexible Banking
Esports draws a global audience, so allowing customers to fund accounts with different payment methods is key. Cryptocurrency, mobile payments and other fast digital transactions keep pace with how young bettors want to operate.
Faster Live Betting
The speed of esports makes dynamic live betting essential. Customers need the ability to wager on ever-shifting outcomes in real-time during a match. Additional data like kill/death ratios helps inform in-game betting.
Better Bonuses
Massive sign-up bonuses, enhanced odds, risk-free bets and profit boosts help entice esports bettors to try out a sportsbook. And things like esports-specific free bet credits keep them coming back.
More Streaming
With esports so dependent on video streaming, sportsbooks incorporate Twitch streams and YouTube feeds into their platforms. Allowing customers to watch and bet in one place is the ideal user experience.
Superior Stats
Reams of advanced data detailing things like average creep scores and kill participation percentages assist bettors handicap upcoming esports matches. Operator sites and apps must process and display these next-gen stats.
Future is Bright for Esports Betting
Esports wagering activity has already reached dizzying heights. But with the audience and betting revenue projections soaring into the future, this new form of entertainment betting still seems like it’s just getting started. As media consumption habits shift, interest in esports continues to pull fans – and their betting dollars – away from traditional stick-and-ball sports.
The meteoric rise of esports betting has lit a fire under old-school bookmakers. With the writing on the wall, traditional sportsbooks are investing heavily to appeal to the next generation of bettors. Those slow to activate on esports face extinction. Because one thing is clear – esports is no fad, and it’s rapidly changing sports betting as we know it.
