Market Insights Advertising & Media Esports

Esports Betting - Portugal

Portugal

In Portugal, revenue in the Esports Betting market market is projected to reach €11.1m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.55%, resulting in a projected market volume of €13.8m by 2029.
While the overall Esports Betting market market sees substantial revenue, most of it is generated the United States, where a projected market volume of €661.9m is anticipated in 2024.
The average revenue per user (ARPU) in Portugal is expected to amount to €37.6.
In Portugal, the growing popularity of esports is significantly driving interest in esports betting, as younger audiences increasingly seek interactive gaming experiences.

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

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Analyst Opinion

In Portugal, the Esports Betting Market within the eSports Market has seen subdued growth, influenced by factors such as slow adoption of digital technologies and limited awareness among consumers. However, convenience offered by online betting services may drive future growth.

Customer preferences: As the popularity of esports continues to grow in Portugal, there has been a noticeable increase in the demand for esports betting. This trend is driven by the younger generation, who are more tech-savvy and have a strong interest in competitive gaming. Additionally, the rise of online streaming platforms and social media has made it easier for fans to follow their favorite teams and players, further fueling the growth of esports betting in Portugal. This shift towards digital entertainment and gaming is also being driven by the increasing accessibility of high-speed internet and the growing trend of online gaming communities.

Trends in the market: In Portugal, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with a growing number of online platforms offering betting on various esports competitions. This trend is expected to continue as more traditional sports betting operators enter the market and more countries legalize online betting. Furthermore, there is a shift towards mobile betting, with the rise of esports betting apps and mobile-friendly websites. This trend is significant as it allows for easier access and convenience for bettors, and it also opens up opportunities for in-game betting. Industry stakeholders should pay attention to these trends and adapt their strategies accordingly to stay competitive in the market.

Local special circumstances: In Portugal, the Esports Betting Market is gaining traction due to the country's growing gaming community and increasing internet penetration. The government has also shown support for the industry, recognizing Esports as an official sport and hosting major international tournaments. However, strict gambling regulations limit the growth of the betting market, with only licensed operators allowed to offer services. This creates a unique dynamic in the market, with a smaller pool of players but a more regulated and secure environment for betting. Additionally, the country's strong football culture has also influenced the popularity of Esports betting, with many traditional sports bettors transitioning to Esports.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market is heavily impacted by macroeconomic factors in Portugal. The country's economic health, fiscal policies, and global economic trends play a significant role in the performance of the market. Portugal's strong economic growth and favorable regulatory environment have contributed to the rapid growth of the Esports Betting Market. The country's increasing investments in digital technologies and infrastructure have also facilitated the growth of the market. Additionally, the rising popularity of esports among the younger population in Portugal has further boosted the demand for esports betting, driving the market's growth.

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.