Asia stands out as a key player in the ever-evolving Esports sector, propelled by a swelling population and a fiercely competitive environment. The rise in popularity of Esports across Asia has had a huge impact on both the sports betting market and the broader iGaming sector. This article delves into the transformative influence of Esports on the traditional Asian sports betting market, spotlighting key regions and their unique dynamics.
The Soaring Popularity of Esports
From its modest beginnings, Esports has exploded into a global sensation. Over the last decade, the iGaming sector has grown exponentially into a multi-billion-dollar industry. In a projection by Emergen Research, the Esports market is predicted to reach a staggering $5.1 billion by 2028.
Rapid Demographic Growth
With a global audience of 474 million, projected to reach 577 million by 2024, Esports has attracted players and viewers to virtual battlegrounds in games like PUBG and Call of Duty Mobile. This surge has given new life to the iGaming industry while broadening esports enthusiasts’ demographic. Beyond the traditional youth demographic, Esports is capturing a broader audience.
Transformative Impact of Esports on Asia’s iGaming
Esports’ influence is reshaping Asia’s iGaming landscape. Asia contributes over 50% of the global esports betting revenue, prompting operators to create user-friendly platforms that capitalize on bettors’ enthusiasm for favorite competitions. A significant 78% of this demographic is between 18 and 25, indicating a bright future for the industry. While 64% only bet on esports, 24% also bet on traditional sports. This trend establishes China and South Korea’s position as leaders in the Esports sector.
Flourishing Esports Scene in Southeast Asia
The Southeast Asian esports market is booming, thanks to rapid development and the rise of mobile gaming. It is the world’s fastest-growing iGaming hub, with 310 million players. This increase can be credited to the appeal of esports and the deployment of 5G infrastructure. Mobile gaming is preferred by 82% of Southeast Asia’s iGaming community (250 million players). Esports generated $4.4 billion in sales in 2019, representing a 16% yearly increase. Predictions for 2023 are even more ambitious, with 476 million users and sales reaching $8.3 billion.
Summary
In summary, Asia’s growing embrace of esports is reshaping the sports betting landscape. Fortunately, Uplatform is well suited to cater to this shift by offering tailored solutions with over 300 betting markets, 60+ Esports games, and 9500 pre-match and live events. They also provide an extensive range of services, addressing the evolving market demand.
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- Source: Plato Data Intelligence.
