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Esports Betting Rides Momentum into 2023 With Increased Turnover and Bettor Engagement

Esports Betting
Posted on February 26, 2024

A recent report from PandaScore offers an insightful overview of the esports betting landscape in 2023. As noted in the original article, the total amount wagered per esports bet increased by 37% compared to 2021, reaching an average of €45. This indicates growing consumer comfort with esports betting.

The analysis shows the resilience of esports betting despite a broader market correction in the esports industry last year. Total betting turnover continued growing, and margins remained stable or improved for many operators and suppliers. As stated in the article: "The total pool of bettors has grown, and they're placing larger bets than before, with overall turnover continuing to grow year-on-year."

Counter-Strike maintained its supremacy in 2023, responsible for over 60% of total turnover. However, other titles like Dota 2 cemented second place while League of Legends (LoL) experienced reduced betting volume that correlated with lower viewership of competitions like the LCS.

New esports like EA Sports FC football battles quickly grabbed a 5.7% market share in their debut year, appealing to traditional sports bettors with their quick match format. However, the different bettor profile is worth noting compared to other esports.

The report also highlights live betting's growing popularity, now accounting for around 65% of total turnover, as the experience and innovations in that area improve. When examining the most popular competitions, Counter-Strike tournaments like ESL Pro League and the Paris Major unsurprisingly topped the list.

Dota 2's absence from the top 10 despite high total turnover for the year underscores how matches were distributed across more tournaments. But with Dota Pro Circuit changes coming in 2024, it will be interesting to see how that affects betting behavior.

Overall, the data indicates continued positive momentum for esports betting. The sector has shown resilience and steady growth even against strong economic headwinds. As legalization expands and leagues stabilize, turnover and bet volumes should keep rising.

With robust platforms like PandaScore tracking detailed metrics, operators can leverage data-driven insights to optimize experiences for this demographic of engaged bettors wagering higher amounts. The future looks bright for this burgeoning vertical.


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