Betting trends in e-sports and the future of competitive betting in 2024

Interest in e-sports has grown at a record pace. This growth is reflected in both the number of new players and the money generated in what is now a multi-billion dollar industry. And there is no indication that this growth will stop in the coming years. But what can we expect in 2024? We have taken a closer look at developments in the Swedish and international iGaming industry.

Those who have followed the development of e-sports know that recent years have been characterised by major technological breakthroughs. Graphics have taken great strides forward, and ray tracing has in many ways revolutionised game design. The new technology simulates the movement and reflection of light in real time, creating realistic and detailed environments, a technology that has particularly influenced games in genres such as action and adventure, where visual effects play a crucial role. And this is certainly a technology that will continue to make its mark on the games released in 2024.

Advances in motion controls have also transformed e-sports in recent years. Game developers are using advanced motion sensors and controllers to mimic real-life movements. So the bar is constantly being raised in terms of technology, and it seems we have many exciting game releases to look forward to in the coming months.

Of course, there are other technological innovations that will leave their mark on gaming. Cloud gaming has recently become a growing trend, allowing for gaming without the need for powerful hardware. This has led more people to discover e-sports, and it's a trend we'll come back to later.

Developments in the multiplayer area

One issue that has been discussed at length in the Swedish industry concerns multiplayer games. And the trend is clear: Multiplayer games are far from being just about the competitive aspect but have become social platforms where players can interact, collaborate and compete in real time.

The emergence of the Battle Royale genre focuses on multiplayer experiences. These include different game modes such as co-operative missions. Furthermore, social elements have been integrated more clearly into multiplayer games, which we are likely to see more of in 2024, and this is a trend that is very strong here in Sweden.

Players can join virtual communities, create their own teams and participate in global networks with other players. Multiplayer e-sports tournaments have very high viewing figures in Sweden on streaming platforms such as Twitch, and this interest in watching other players is bound to increase.

Retro wave in e-sports

Another trend is the launch of retro games. In fact, the games launched in the 1990s and early 2000s are now actually considered retro. Players who want to experience these early games in an updated format should keep an eye out for the upcoming 2024 release. Events and tournaments that focus on retro games have become popular, proving how much the gambling industry has evolved and changed over the past 20 years.

Easier to bet on e-sports

As mentioned, interest in betting is growing among Swedish players. A few years ago, it was relatively difficult to find gambling companies that offered betting on, for example, League of Legends and other tournaments. And the increased interest in e-sports is now also reflected in the betting companies. In fact, the betting market for e -sports is gigantic in international terms, and Swedish gambling companies have now joined the trend. Not only has the number of markets increased, but Swedish players also have more betting options. Those who want to bet on e-sports can, among other things, play on:

• Starcraft 2
• League of Legends (LoL)
• Hearthstone
• Counter Strike: Global Offensive (CSGO)
• Heroes of the Storm
• Defence of the Ancients 2 (Dota 2)

Moreover, there are more and more Swedish esports betting sites offering good odds on the big events and our list of licensed providers is constantly updated. As a result, esports is beginning to be treated in the same way as betting on football and ice hockey, for example, on Swedish bookmakers, reflecting the changing role of esports in society. And according to recently published statistics, the esports market in Sweden was worth USD 62.5 million in 2023.

6 reasons why revenues are increasing at a record pace

In recent years, the esports industry has not only launched many technological innovations but also increased its revenues substantially, making it one of the most prominent and economically significant entertainment industries in 2024. And there are essentially 6 reasons for this record-breaking development.

1. Increased viewing figures. One of the primary drivers of revenue growth in esports is the exponentially growing audience. Millions of people around the world follow e-sports events online and offline. This huge viewership has generated high revenues from digital rights. Streaming platforms such as Twitch and YouTube Gaming pay large sums of money to secure the rights to broadcast e-sports events, and this has generated increased revenues for both teams and event organisers.
2. Sponsorship deals. Large companies across a range of industries, including technology, energy drinks, clothing and electronics, have recognised the potential of associating their brands with e-sports teams and multiplayer events. Companies are paying significant sums for the exposure and marketing opportunities offered by e-sports, and this is growing rapidly.
3. Merchandising. The sale of team clothing and other e-sports related products has become a significant source of revenue in the industry. Many teams have also opened their own online stores.
4. Tournaments. The growing importance of e-sports competitions has led to a dramatic increase in prize money. Major tournaments such as The International for Dota 2 and the League of Legends World Championship offer millions in prize money, and this has attracted not only professional players but also investors and sponsors.
5. Technology. Partnerships between e-sports organisations and technology companies have become increasingly common. Technology companies see e-sports as an opportunity to market and sell their products to an audience with purchasing power. These partnerships can often include customised hardware for teams or exclusive benefits for players.
6. Media partnerships and rights agreements. By securing the rights to broadcast e-sports events on TV and other platforms, media operators have been able to reach a wider audience and thus increase advertising revenues. These agreements have also increased the legitimacy and visibility of esports, which has generally strengthened the industry.

Partnerships are increasingly common

The e-sports industry has thus undergone strong development in recent years, and another important trend is the increasing collaboration between different actors. In the past, collaborations were mainly focused on specific areas, such as sponsorship or event organisation. Now we see a trend where organisations from different parts of the industry are working together. For example, a game development company may work with a team to create customised tournaments or marketing campaigns. E-sports has also become a global phenomenon, with teams and tournaments spanning different continents. This global presence has created opportunities for many international collaborations and partnerships. Technology companies and game developers have also started working together to develop and improve the technical infrastructure for e-sports. This has provided players with improved streaming platforms and a range of other benefits.

Increasing number of professional players

Another clear trend is that more and more young players are turning to professional eSports. For many young players, going professional in e-sports has gone hand in hand with a structured training programme. Young talents follow rigorous training schedules and engage with experts in fields such as sports psychology and physical training to improve their performance.

This development has also led to an increase in the visibility and popularity of e-sports. Young players' efforts to become professionals have generated interest from both sponsors and media players. The increased professionalisation of young players has also resulted in higher prize money and increased viewing figures for major esports tournaments. This has made the profession of professional gamer attractive to young people, which in turn has stimulated the growth and development of the industry. Several different factors have thus contributed to the strong development of the Swedish and international e-sports sector.

New player groups in e-sports

It is a fact that the number of players is increasing. But a clear trend is also that new player groups are also finding their way to e-sports. Traditionally, e-sports have been associated with computer and console games, but the increased availability of smartphones and tablets has encouraged new players to take up e-sports. In this case, it is mainly players who do not necessarily invest in powerful gaming devices but still want to try the game.

Previously a predominantly male domain, there has been a change with more women participating at a professional level. Games like League of Legends and Counter-Strike have seen an increase in female player profiles. In addition, there have been several industry initiatives to attract women to the sport. And by all accounts, the Swedish efforts have been successful.

In addition, a survey conducted by the Swedish eSports Federation found the following results:

• 43% responded that computer and video games can promote social interaction.
• 21% of respondents said that they have made new friends through gaming.
• 27% of respondents said that gaming has strengthened their existing friendships.
• 13% of survey respondents would support the inclusion of eSports as an Olympic sport.

Much to look forward to in 2024

In short, there is a lot to look forward to in the coming year. Technology is constantly improving and the industry is going through major changes right now. For individual players, this doesn't just mean a better gaming experience. The way we play is changing, and esports is taking on an increasingly professional role in society. The prize money in major tournaments is increasing and the industry is turning over record amounts of money. And it seems that revenues will continue to increase even in 2024. A positive development is of course also that more and more women are choosing to invest in e-sports, both in Sweden and the rest of the world.