Record growth in esports betting: 2024 sees 106% YoY increase, says report
Esports made a giant leap, and betting markets soon followed. With record-breaking viewership figures, nail-biting upsets, and new tournament formats, fans and punters had more reasons than ever before to join in. Oddin.gg’s latest report highlights the revolutionary esports betting landscape in 2024.
Esports betting growth in 2024
According to the , the average year-on-year (YoY) betting volume growth across four major titles (Counter-Strike 2, Dota 2, League of Legends, and Valorant) was a whopping 106 percent. The bet count followed closely with an 83 percent YoY jump. These are seismic shifts in the esports betting market. Esports outperformed traditional sports in terms of average bet size, with esports bets averaging €37, compared to football (€29), ice hockey (€34), and tennis (€35).
Why is esports betting gaining traction?
Esports betting is attracting attention due to the fast-paced nature of the games and the innovative betting options, such as live bets, player props, and kill counts. The rise of mobile apps and real-time betting markets further fuels this rapid expansion.
Game-Specific Performance in Esports Betting
Counter-Strike 2: This year marked the official transition from CS:GO to CS2, and it certainly caused a stir. Betting volume surged by 99 percent year-on-year, while the number of bets placed increased by 80 percent year-on-year. Major tournaments like PGL Major Copenhagen and PWS Major Shanghai drew in massive engagement.
Dota 2: The year 2024 marked the end of the Dota Pro Circuit (DPC), which turned out to be a blessing in disguise as third-party tournaments filled the gap. Betting volume surged by 90 percent year-on-year, and the number of bets placed increased by 56 percent year-on-year. The average stakes for the tournament soared to €24, reflecting a 25 percent increase over TI 2023.
League of Legends: In 2024, League of Legends (LoL) revamped its regional structure, and the results were impressive. Regional powerhouses like the LPL (China) and LCK (South Korea) emerged as central hubs for betting activities. Betting volume increased by 61 percent year-on-year, while the number of bets placed rose by 65 percent year-on-year. The LPL Spring 2024 recorded the highest average stake at €70, with the LCK Summer close behind at €61.
Valorant: In 2024, Valorant truly stole the spotlight with some astounding numbers. Betting volume surged by 175 percent year-on-year, while the number of bets placed increased by 131 percent. Average stakes increased by 29 percent year-on-year to €42, with bettors particularly enjoying live betting formats tied to ultimates and mid-round decisions.
Emerging betting trends in esports
Live betting handle experienced a phenomenal increase of 368 percent year-on-year. Esports is made for this, with immediate action and perpetual changes in momentum. Mobile betting, regional betting systems, and emerging formats create more choice for the bettor, leading to greater accessibility in the betting market.
Based on the Oddin.gg report and insights from industry experts, the outlook for esports betting in the upcoming years, particularly into 2025, is positive. The momentum observed in 2024 is expected to continue, showing no signs of slowing down. The report suggests that the competitive and betting landscape will continue to evolve, creating fresh opportunities for operators.
