Esports Betting in 2024 – A Year in Review
As the global esports revenue surpasses $1.6 billion, the market continues to develop alongside the betting industry. Specifically, esports betting in 2024 continued to carve out its niche while celebrating significant milestones – learn more as we review a fantastic year of esports and esports betting.
The Rise of CS2 – Upping the Ante
Accordingly, released at the tail-end of 2023, Counter-Strike 2 had massive shoes to fill in 2024. Following up Counter-Strike: Global Offensive, the most popular esports betting title ever, there were some concerns of failing to live up to the name.
However, in March, we got our answer. Indeed, the first-ever CS2 Major, PGL Major Copenhagen 2024, scored 1.85 million peak viewers, making it the third most-watched CS Major of all time.
Betting trends observed by Abios during the CS2 Major include a 50/50 distribution between live and pre-match betting, demonstrating how live betting has taken over in 2024.
Moreover, betting operatives offered a plethora of betting markets, namely:
- Match winner & round winner
- Total kills
- Round handicap & map handicap
This crucial tournament set the tone for all CS2 betting for the rest of the year, confirming that CS2 remains the dominant betting title in esports.
Esports World Cup – Betting Markets Galore
Sure, while Counter-Strike maintained its position at the top of the pile, esports betting in 2024 witnessed the most diverse esports betting markets of all time as multiple esports shared the limelight.
Moreover, this was all made possible thanks to the Esports World Cup.
Hosted in the sweltering summer heat in Riyadh, Saudi Arabia, the esports community was entertained by a $60 million prize pool and the best teams in the world. More importantly, the prize pool and stakes invited esports betting operators to offer odds for titles that ordinarily don’t receive much attention.
Beyond the mainstream esports, the following minor scenes were also enjoyed esports betting markets as covered here on EsportsBets:
- FreeFire
- PUBG
- PUBG Mobile
- Honor of Kings
- EA SPORTS FC
- Street Fighter 6
- Teamfight Tactics
- Tekken 8
- RENNSPORT
- Apex Legends
- Fortnite
Now as the Esports World Cup Federation has confirmed over 3 more years of EWC competition, esports betting opportunities look to continue flourishing for minor esports. Of note, Mobile Legends: Bang Bang stole the show at EWC.
So much so, that following the EWC, esports betting operators have offered more extensive markets for a more diverse portfolio of esports scenes. Most recently, the PUBG Mobile and PUBG Global Championship received unprecedented coverage through exotic betting markets with demonstrated growth.
In 2024, an increase in exotic markets for multiple esports indicated a more mature and successful betting space which aims to be sustainable as opposed to only offering limited odds.
The attention garnered from EWC certainly benefitted both esports and esports betting – no doubt about it.
Riot Games – Betting Sponsorships Incoming
Naturally, while we’re opposed to any stringent comparison between traditional sports and esports, there are lessons to be learned when it comes to sponsorship.
Furthermore, betting sponsorships offer a key and direct relationship between the sport and betting industry and are commonplace in traditional sports. Over the years though, esports publishers have stayed away from betting advertisements due to a younger audience and difficulties in regulation.
Yet, all of that is about to change for League of Legends and VALORANT betting in 2025 in a revolutionary way as we reported a few weeks ago:
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Riot-owned channels will stay betting-free. No betting brands will appear on our broadcasts, socials, or jerseys.
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Riot will vet all potential betting partners to meet our standards for integrity, transparency, and fan engagement. All sports books partnering with teams will need to meet local regulatory and licensing requirements and match Riot requirements around content and promotion for this category.
Let’s not forget that this is Riot Games, publisher and tournament organizer for two of the most successful esports ever. Notably, their VALORANT esports scene is the most sustainable esport out there with its innovative partner system and rapid expansion. In summary, Riot Games has a vision for the future of esports.
Bearing this in mind, here are the key insights from this announcement:
- Riot Games, an esports industry leader, understands the importance of integrating esports betting and is willing to make the effort
- Riot Games recognizes the role of esports betting and its promising future
- As an industry leader, once Riot Games implements esports betting adverts, other market leaders are sure to follow
LoL Worlds 2024 – Smashing Viewership Records
Considering that the LoL Worlds Championship smashed every viewership record in esports, seeing their support for esports betting is massively encouraging. Here’s a reminder of the records which were broken at the tournament this year:
- Peak Viewers – 6.94 million
- Most Watched match in Esports + Most Popular Match in Esports
- High Hours Watched for team
- Broadcast records for English, Vietnamese, Chinese, Swedish, Czech, Korean
- Multiple new records for esports organizations, broadcasts and co-streamers
This is also secondary to 2024 seeing the rise of co-streaming. Accordingly, more viewership numbers have encouraged esports operators to esports betting markets of better quantity and quality.
Notably, the most popular betting markets at Worlds 2024 besides Match Winner and Handicap included special bets for Total Kills by Player, Total Deaths by Player and Total Assists by Player.
Esports Betting & China – A New Market
Our last talking point is the rise of China within the industry of esports.
Speaking of Riot Games, they know more than anyone about the potential of Chinese esports after EDward Gaming won VALORANT Champions and Bilibili Gaming competing in the Grand Final of LoL Worlds.
As China invests over $2.0 million in esports, developing the first esports centre in May, integrating esports into the Asin Games and celebrating game developers Tencent, Chinese esports scenes are receiving more attention.
While esports betting laws in China are somewhat strict, the rest of the community has enjoyed betting on esports scenes featuring Chinese teams – such as PUBG, Honor of Kings, Riot Games and VALORANT.
Indeed, Chinese viewership is severely underestimated and key for the future of esports. For example, out of all the regions of the VALORANT Champions Tour, here’s how viewership stacked up and dwarfed other regions:
- VCT China – 1.8 million peak viewers
- VCT Americas – 810,000 peak viewers
- VCT EMEA – 409,000 peak viewers
- VCT Pacific – 481,000 peak viewers
We’ll be curious to see how Chinese esports will influence the esports betting market in 2025.
