Esports is increasing its position among the top sports by betting in 2023. The sports betting product team at SOFTSWISS, a leading sports betting software provider, reflects on the past year.
There is no going back on the rise of electronic sports
Thus, over the last three years, the top three betting sports have remained unchanged, with football, tennis and basketball maintaining the lead. In contrast, esports has demonstrated a consistent upward trend.
They have been progressing from seventh position in 2021 to fourth in 2023. Case in point, Counter-Strike stands out, claiming sixth position among the top ten disciplines by number of bets.
Alexander Kamenetskyi, Director of Sports Betting Service at SOFTSWISS, commented: “Considering the rise of esports, we advise our partners to focus on cyber modalities.
In other words, those that involve audiences beyond the demographics of traditional betting. Highlighting the potential of esports for operators, Newzoo’s report projects 640 million viewers by 2025.”
Thus, another notable trend in sports betting, which has remained unchanged for several years, is the consistent growth of bets placed on mobile phones.
According to SOFTSWISS, 80% of bets in 2023 were placed via mobile phone, compared to 70% in 2022 and 68% in 2021.
So this trend solidifies as players increasingly opt for the convenience of mobile, especially in live betting scenarios. Most importantly, it was mobile devices that contributed 92% to operators’ revenue.
Kamenetskyi adds: “Mobile betting is one of our main focuses in product development. We put a lot of effort into improving our mobile app and website.
This is specifically important for locations that face challenges with internet connectivity. Regions like Latin America and Africa are examples of this, where Internet coverage is still growing.”
Casino turnover drops during major sporting events
The SOFTSWISS team has repeatedly highlighted changes in player behavior around major sporting events. Specifically, there was a 10 to 20% drop in online casino revenue, coinciding with the 2022 World Cup.
Therefore, this highlights a dynamic where a significant portion of casino players redirect their focus to sports betting based on seasonal patterns. Considering the public’s preferences, bolstering casinos with sports betting is a logical step.
Kamenetskyi states: “This pattern underscores the strategic imperative for iGaming participants to recognize the synergistic relationship between casino ventures and sportsbooks.”
“The combination of these options not only increases the casino’s appeal, but also maintains player engagement, especially during sporting events. In this context, it is worth mentioning that the SOFTSWISS betting service is compatible with any casino platform on the market”, he adds.
Additionally, the company’s team notes the strengthening of other trends, such as regulation and responsible gaming, which were recently highlighted in SOFTSWISS’ iGaming Trends 2024 report. The company will occupy stand D360 at the first SBC Summit Rio at stand D360.
