Esports saw more play with more titles and the future looks bright, according to a report from betting and media company Rivalry.
The company’s end-of-year report recapped the esports betting industry in 2022. The report touched on the most bet-on titles from the past year and provided insight as to how the segment is trending heading into 2023, utilizing internal company data and commentary on the segment.
League of Legends, Counter-Strike: Global Offensive and Dota 2 were the most wagered-on esports titles of the year, according to the report. The trio of games represent approximately 90% of all esports betting on Rivalry this year.
Other titles, however, showed marked improvement. Riot Games’ FPS hit Valorant is quickly growing into what Rivalry calls “a serious betting contender,” with a 264 percent annual increase in volume from the prior year.
“Again, this is somewhat unsurprising considering its likeness to Counter-Strike and the well-established betting culture surrounding it,” added the company.
There were some new games making an impact as well. Mobile Legends: Bang Bang was No. 5. The jumped over Starcraft 2 from last year as the fifth most bet-on eSport. They were also the first-ever mobile game to reach the top five. The majority of ML:BB betting in 2022 took place in Southeast Asia, “a nod to its popularity in the region,” the report read.
Rivalry CEO Steven Salz said the company is excited about the future and that the report shows positive growth.
“From our leading position in esports betting, we’re keen to share our experiences, trends, and outlook,” Salz said in the report. “Rivalry wrapped not only speaks to the specific direction of the betting segment, but also where trends are headed in esports generally. This includes correlations we see between betting activity and viewership growth, just as you would in traditional sports.”
The report also provided insight on the betting preferences of customers. It showed that live betting is favored by esports bettors over pre-match wagering. Of all esports wagers placed on Rivalry this year, 62 percent were in-play bets, compared to 38 percent pre-match. This rise of in-play betting mirrors the experience and growth of the category seen in traditional sports wagering, points out Rivalry, which expects this trend to continue.
The company is also seeing wagering on traditional sports. Of the people that bet on esports, more than 50 percent also bet on traditional sports. The most popular were basketball, soccer, football, baseball and hockey.
