The esports sector showed impressive growth in the third quarter of 2024, as reported in the latest SOFTSWISS Sportsbook Q3 analysis. This period saw esports turnover surge, doubling compared to the previous quarter, while the average bet in cybersports rose by 17.6% quarter-on-quarter. SOFTSWISS, an experienced leader in iGaming solutions, shares these insights, reflecting the sustained momentum and emerging trends in esports betting.
Top Sports by Revenue: Football Remains Supreme
Among all sports, the top five categories by Gross Gaming Revenue (GGR) maintained their positions: Football, Tennis, Basketball, Table Tennis, and eFootball. Football continued to dominate, contributing almost 50% of the total GGR, while eFootball remained a top choice for esports enthusiasts, surpassing Counter-Strike 2 for a second consecutive quarter. This shift indicates a growing interest in eFootball within the esports community.
The popularity of live betting increased in Q3, with the average live bet rising by 10% over the previous quarter. Live betting now accounts for a substantial 78.6% of overall turnover, indicating that this format continues to be a significant revenue driver. SOFTSWISS Sportsbook's team is working to enhance the live betting experience, aiming to tap further into this trend to boost operator engagement and profits.
In addition to the esports boom, other betting metrics saw positive trends. The average bet across all sports rose by 9.7% in Q3, while the number of bets placed surged by 18.7%. Meanwhile, GGR saw a more gradual increase of 1.5% quarter-on-quarter. SOFTSWISS notes that strategic promotions have enabled consistent betting activity, even following major events like the UEFA Euro 2024.
Expanding International Presence - Brazil and South Africa
In line with its global expansion goals, the SOFTSWISS Sportsbook team is working toward obtaining certification in Brazil through an authorized testing laboratory, furthering its reach in Latin America.
In the South African market, SOFTSWISS recently introduced a specialized Horse Racing Module, which adds over 2,400 races each month. This module offers unique customization options for operators, including race cards, silks, and various betting options, allowing brands to offer tailored experiences that resonate with local players.
The SOFTSWISS team is preparing to release its highly anticipated iGaming Trends Report for 2025. This comprehensive report draws on data from over 50,000 media sources and expert insights, covering key areas such as regulation, marketing strategies, technological advancements, and business growth. Industry professionals are encouraged to join the waiting list for this report, which promises an in-depth look at the factors shaping the iGaming industry.
To cap off a year of impressive growth and development, SOFTSWISS will display its full suite of products at the SiGMA Europe event, where attendees can find the team at stand 2145. This showcase will offer insights into the innovations driving SOFTSWISS’s expansion, with opportunities for networking and industry engagement.
Source:
''SOFTSWISS Sportsbook Doubles Esports Turnover in Q3 2024'' Press Release. November 01, 2024.
marina_m575
2 days ago
Moderator
Esports betting is experiencing significant growth! According to SOFTSWISS, the company has reported impressive growth in the third quarter and has achieved a wide global reach.
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