PandaScore witnessed not just an uptick in the total number of esports bets across our operator partners, but also a significant increase in the total amount wagered per bet.
The average bet placed throughout 2023 stood at €45 – marking a substantial 37% rise compared to 2021.
Despite the broader esports sector facing a market correction involving reduced budgets and team consolidations, total betting turnover saw a notable increase.
Margin performance either held steady or showed improvement for many suppliers and operators.
The pool of bettors has expanded, with larger bets being placed, driving continuous year-on-year growth in overall turnover.
This underscores esports betting as a resilient vertical, increasingly embraced by consumers.
Counter-Strike’s enduring popularity and robust betting culture historically result in its dominance or significant contribution to total turnover annually.
Responsible for 60.2% of total turnover for PandaScore’s clients, this trend persists.
However, other esports segments are emerging, challenging Counter-Strike’s supremacy.
Dota 2 has solidified its position as the second most favoured choice among bettors, while League of Legends (LoL) has seen a decline in performance.
Reduced viewership for the LCS and a decline in total bets reflect this trend.
The introduction of football ebattles has shown promising results, capturing 5.7% of total turnover in its inaugural year.
However, it’s essential to note that such fast-esports titles primarily consist of EA Sports FC matches, catering to a distinct bettor profile compared to traditional esports.
Valorant’s transition to a shorter, more intense season has intriguing implications for betting, with its total turnover steadily growing, surpassing many other titles in esports’ long tail.
Beyond the prominent esports titles, such as Counter-Strike, Dota 2, and LoL, a closer examination of other long-tail titles against Valorant is warranted.
Call of Duty, atop the list, remains significant, especially with the ongoing US regulation and its burgeoning popularity in North America.
In recent years, there has been a notable preference for live betting among bettors, indicative of improved live betting experiences and innovative features like betbuilders.
Major competitions in Counter-Strike dominate the turnover breakdown, with events like ESL Pro League and the Paris Major attracting considerable attention.
The absence of Dota 2 tournaments in the top 10, including The International, is noteworthy, reflecting changes in the competitive season structure.
Valve’s decision to revamp the Dota Pro Circuit could reshape betting dynamics.
Operators and suppliers remain optimistic about Valorant’s future, particularly with the establishment of the Partner Program, aimed at enhancing the professional circuit’s stability and quality, crucial factors for esports bettors.
While changes in the competitive structure may influence betting behaviour, Counter-Strike remains a solid choice for bettors, with the upcoming Counter-Strike 2 Major expected to maintain its appeal.