Market Insights Advertising & Media Esports

Esports Betting - Asia

Asia

In Asia, revenue in the Esports Betting market market is projected to reach €368.3m in 2024.
Revenue in this region is expected to show an annual growth rate (CAGR 2024-2029) of 6.48%, leading to a projected market volume of €504.1m by 2029.
While most revenue is generated the United States, the projected market volume in Asia is anticipated to be €668.8m in 2024.
The average revenue per user (ARPU) in Asia is expected to amount to €19.0.
In Asia, particularly in countries like South Korea, Esports betting is gaining traction, driven by increased viewership and a burgeoning online gaming culture.

Key regions: India, Sweden, United Kingdom, Asia, Germany

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Analyst Opinion

The Esports Betting Market in Asia is undergoing steady growth, influenced by factors such as the rising popularity of esports, increasing awareness of online betting, and the convenience of virtual wagering. However, this growth is being subdued by regulations and restrictions in certain countries.

Customer preferences: With the growing popularity of esports, the Esports Betting Market within the eSports Market has also seen a significant increase in consumer preferences for live streaming and online viewing platforms. This trend is driven by the younger demographic in Asia, who are highly engaged in gaming and esports culture. As a result, there has been a rise in demand for localized content and language options, as well as increased interest in virtual reality and augmented reality experiences. Additionally, with the rise of mobile gaming, there has been a shift towards mobile-based betting options, catering to the on-the-go lifestyle of Asian consumers.

Trends in the market: In Asia, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with the region accounting for a significant share of the global market. This trend is being driven by the increasing availability of mobile devices and high-speed internet, as well as the rise of professional esports leagues and tournaments. As a result, more traditional sports betting companies are entering the market, and governments are starting to recognize and regulate esports betting. This trend is expected to continue, with potential implications including increased revenue opportunities for industry stakeholders and a larger global audience for esports events.

Local special circumstances: In Asia, the Esports Betting Market within the eSports Market is heavily influenced by the region's strong gaming culture and widespread internet connectivity. Additionally, varying levels of government regulation and cultural attitudes towards gambling play a significant role. For example, in China, where gambling is illegal, there is a thriving underground betting scene, while in Japan, where gambling is legal, there are strict regulations on esports betting. In South Korea, the birthplace of esports, the market is driven by a passionate fanbase and a highly developed esports infrastructure. These unique factors shape the dynamics of the Esports Betting Market within the eSports Market in Asia, making it a complex and diverse market.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market market in Asia is heavily impacted by macroeconomic factors such as the growth of the gaming industry, regulatory policies, and government support. Countries with a strong gaming culture and favorable regulatory environments, such as South Korea and China, are experiencing significant growth in the Esports Betting Market. Additionally, the increasing popularity of online gaming and the rise of mobile technology have further boosted the market in this region. However, economic downturns and political instability in certain countries can hinder market growth, as seen in Thailand and Indonesia. Overall, the region's economic health and government policies play a crucial role in shaping the Esports Betting Market in Asia.

Methodology

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.