July 2021
Featured in this insight: Financial services, IT & telecommunications
Online gambling industry expected to grow by 11% in the next year with cryptocurrency and esports expecting similar growths: A survey has uncovered that the online gambling industry is expecting a growth of 11% on an already big market, estimated to be worth around £47bn. Furthermore, esports is also expecting a viewership growth to around 650 million viewers by 2023.
The survey by Gamblineers researched the current trends in cryptocurrency and online gambling in order to predict future trends.
Esports as a betting market is becoming more and more appealing as it continues to grow, found the study. The estimated following of esports is estimated to be more than well respected sports, such as golf and rugby, and on the same level of global popularity as baseball. Furthermore, esports gambling already covers around 2% of the global online gambling market, and 5% of the whole online sports betting sites.
The survey also looked into how people end up on betting sites, and uncovered only 17% of all traffic to betting sites is from organic searches; almost two thirds is directed traffic. In the global betting market, 5% of traffic directed onto betting sites is from display ads, with just 3% is from e-mails and socials. Furthermore, a fifth (21%) of esports betting is from organic search, with 62% of traffic to esports betting sites being directed.
The sports betting market is the biggest global gambling industry, making up 41% of it, with casinos being second at just under a third of the market. The lottery is also a big market for the gambling industry (15%), leaving 11% for all the other markets such as poker or bingo.
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