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The esports industry continues to evolve and expand with each passing year, and predictably, 2024 is shaping up to be another record-breaking period for both participation and viewing figures (especially with the rise of co-streaming). With the global market expected to be valued at an estimated $2.4 billion by the end of 2030, this rapidly expanding sector is showing very few signs of slowing down.
Betting and esports tend to go hand-in-hand, and some fans of competitive gaming frequently enjoy wagering on their favourite teams and players. The esports betting report for 2024 concluded that the average esports bet is $29, significantly larger than those who regularly wager on traditional sports such as football, basketball and tennis. It also suggested that a large majority of these bettors tend to gamble exclusively on esports as many of them haven’t been exposed to more traditional set-ups such as land-based bookmakers and betting at racecourses. The younger audience is looking for user-friendly apps offering much more than just esports odds. Although they don’t necessarily engage in traditional betting markets, newer users are far more likely to be attracted to features such as live streaming and free-to-play prediction competitions where they have the potential to pick up free spins and bonuses for online slots for real money.
Betting Trends
Counter-Strike remains the most popular esports title when it comes to overall betting handle, continuing to lead the way with a 64% share of the market in Q4 of 2024. Several other games have also gradually chipped away at CS’s dominance over the twelve months. League of Legends enjoyed a 2% growth last year and currently holds a 26% market share. Valorant is also moving in the right direction with the first-person tactical shooter currently commanding a 5% market share. Moving in the opposite direction is Dota 2 which saw a 4% drop from 2023, having recently moved into the second spot.
Dota 2’s decline is a surprising development, due to its previously steady statistics. This may indicate that there has been a small shift in betting preferences amongst esports enthusiasts and it is a pattern which could continue throughout 2025. Its marquee event, The International, took just 3% of wagers last year, significantly down on previous instalments. It is a disappointing statistic for an event which broke the viewership record just four years ago.
Valorant, which was created by Riot, has been marketed successfully and boasts numerous modern features. Generally regarded as a strong competitor to Counter-Strike, it is highly polished, generally bug-free and with many high-profile content creators giving it advertising, its increasing popularity isn’t particularly surprising.
Gen Z bettors are on the rise and they outnumbered millennials in 2024. It is an 8% increase from 2023 and with many tech-savvy gamers having grown up with competitive gaming, wagering on high-profile tournaments and competitions tends to come naturally. The immediacy and interactivity of these betting markets are helping to attract a much younger generation of punters.
Last year, 87% of esports bettors were between 18 and 44 years old. The average age of Counter-Strike players was 31, whereas League of Legends (29) and Valorant (27) tended to attract a slightly younger audience.
Other notable statistics include Live betting made up 46% of all Counter-Strike wagers in Q4 of 2024 and the Shanghai Major accounted for 28% of total bets during the final few months. The League of Legends World Championship finished a distant second at just 19%, an increase of 4% from the previous year.
It is also worth noting that Riot has recently altered its stance on betting, approving collaborations between its partnered teams and iGaming brands, having previously kept these sorts of deals at arm’s length. This is likely to result in increased viewership and a rise in engagement throughout 2025 with both Valorant and League of Legends likely to see their numbers increase once again.
