In the third quarter of 2024, the esports industry reached significant milestones, with substantial growth in revenue and betting activity. According to SOFTSWISS, a seasoned iGaming technology provider, the sector has doubled its turnover compared to the previous quarter, driven by rising popularity in cybersports. Traditional sports like football maintain a stronghold, yet a shift towards esports—particularly eFootball over Counter-Strike 2—signals a new trend. With increasing live bets, expanding global reach, and strategic product development, SOFTSWISS is positioning itself as a pivotal player. Their forthcoming iGaming Trends Report promises deeper insights into the industry's trajectory for 2025.

Explosive Growth in Esports Betting and Revenue

Significant Increase in Turnover: Esports has experienced an impressive upsurge in turnover, doubling compared to the previous quarter. This growth underscores a surging interest in cybersports betting, a trend likely to impact the iGaming market's future trajectory.

Rise in Average Bet Amount: The average bet on esports witnessed a 17.6% quarter-on-quarter increase, reflecting heightened confidence and engagement from bettors in this burgeoning sector.

SOFTSWISS Sportsbook Q3 2024 Report Highlights

Industry Expertise and Market Insights: SOFTSWISS, a technology pioneer with over 15 years in iGaming solutions, shared pivotal findings in its Q3 2024 report, shedding light on the esports market’s evolving landscape and lucrative opportunities.

Steady Favorites Among Sports: Football, Tennis, Basketball, Table Tennis, and eFootball maintained their positions as the top five sports by Gross Gaming Revenue (GGR), illustrating consistent bettor preferences within the market.

Shifting Preferences in Esports

eFootball Outpaces Counter-Strike 2: For the second consecutive quarter, eFootball surpassed Counter-Strike 2 in popularity. This shift indicates a broader interest within esports, as fans and bettors diversify their focus beyond traditional favorites.

Football's Dominance Persists: Despite the growth of cybersports, football continues to command nearly half of the total GGR, reinforcing its enduring appeal across betting audiences.

Rise in Live Betting and Operator Strategies

Growth in Live Bets: The average live bet amount increased by 10% quarter-on-quarter, a trend that operators are leveraging as live bets now constitute 78.6% of turnover. This sustained interest in real-time wagering represents a critical revenue channel.

Enhancements in Live Betting Experience: SOFTSWISS Sportsbook is actively refining its live betting platform, providing operators with robust tools to further engage users and capitalize on this lucrative segment.

Overall Betting Volume and GGR Growth

Increment in Average Bets and Total Bets: In Q3 2024, the average bet amount rose by 9.7%, and the total number of bets climbed by 18.7%, indicating a growing user base and sustained bettor engagement.

Modest Increase in GGR: Gross Gaming Revenue (GGR) saw a moderate quarter-on-quarter rise of 1.5%, reflecting consistent profitability while underscoring the sector’s growth potential.

Strategic Opportunities Post-UEFA Euro 2024

Longevity of Projects Beyond Major Events: Following the UEFA Euro 2024, projects continued to perform well, demonstrating that with strategic promotions, initiatives can sustain success beyond large events.

Esports as a Launch Strategy: According to Alexander Kamenetskyi, Head of SOFTSWISS Sportsbook, launching during high-profile sports events can drive initial success. For niche markets, esports-focused projects provide unique entry points, capturing audience-specific interests effectively.

Expansion of SOFTSWISS Sportsbook’s Global Presence

Certifications in Key Markets: SOFTSWISS Sportsbook is extending its footprint, pursuing certification in Brazil via an authorized testing laboratory to solidify its presence in the region.

Integration of Horse Racing for South Africa: Recently, SOFTSWISS introduced a Horse Racing Module tailored to the South African market, offering operators access to over 2,400 monthly races. The module enhances user experience with race cards, silks, and diverse betting types while enabling brand customization.

Upcoming iGaming Trends Report 2025

Comprehensive Industry Analysis: The SOFTSWISS team is preparing to release the iGaming Trends Report 2025, offering in-depth analysis drawn from 50,000 media sources and expert insights.

Topics Covered: The report will cover essential topics such as regulation, marketing, technology, and business growth, providing stakeholders with data-driven perspectives on the industry’s future.

SOFTSWISS to Feature at SiGMA Europe

Final Industry Showcase: SOFTSWISS will present its full suite of products at SiGMA Europe, giving attendees a closer look at its latest innovations. The company will be at stand 2145, highlighting its commitment to driving iGaming advancements forward.