We can’t neglect the rapid growth of the E-sports betting market in the past couple of years. Several factors impacted this expansion but the most notable is without a doubt, modern technology.
The technology surrounding E-sports betting is improving all the time, which makes it easier and more convenient for people to bet on matches. The convenience of betting online on platforms such as Draft Kings or Betway as an example. According to WSN.com, Betway is one of the best betting providers at the moment, and there are now more and more reputable and trustworthy E-sports betting sites available. We all know people find it appealing when they find a site that they can trust with their money.
Indeed, E-sports betting is technologically sound, safe, and convenient, making it an attractive betting market. But how big exactly is the market compared to the legacy sports betting market? We’re here to explore just that.
The global E-sports betting market compared to the global legacy sports betting market
The number of people watching and playing E-sports is increasing every year, which means that there is a larger potential customer base for E-sports betting sites. The global E-sports betting market is still relatively small compared to the global legacy sports betting market. However, it is growing at a much faster rate. In 2018, the E-sports betting market was worth $8 billion, while the legacy sports betting market was worth $480 billion.
By 2025, it is estimated that the E-sports betting market will be worth $26 billion, while the legacy sports betting market will be worth $565 billion. In laymen’s terms, the E-sports betting market is small compared to the legacy sports betting market.
The growth of e-sports betting compared to legacy sports betting over time
There is no doubt that e-sports betting has seen tremendous growth in recent years. This growth took place due to a number of factors, including the increasing popularity and the accessibility of online betting platforms. E-sports are addictive and it comes as no surprise that people get hooked fast, increasing the member base of the E-sports betting industry.
However, it is important to note that e-sports betting still has a long way to go before it can catch up with legacy sports betting. Legacy sports betting has been around for much longer and thus has a much larger customer base. Additionally, many people are still hesitant to bet on e-sports because they are not as familiar with the games and players.
That being said, there is no doubt that e-sports betting has a lot of potential, although it’s unlikely to reach the size of legacy sports betting.
The amount of money bet on e-sports compared to traditional sports
There is a huge difference in the amount of money bet on e-sports compared to traditional sports. E-sports betting is still in its infancy, but the potential is there for it to explode.
Traditional sports betting has been around for centuries and the amount of money put in betting is staggering. In 2018, an estimated $1.75 trillion was bet on traditional sports worldwide.
Compare that to the $13 billion people bet on e-sports in 2020, and it’s easy to see why we can say for certain that e-sports betting will continue to grow at a rapid pace in the near future.