With the dust settling on the Euros and the Olympics there are plenty of eyes on sports betting activity, but a host of blockbuster events are taking place later this year that are yet to be fully tapped – in esports.
Esports is already the fourth or fifth most popular vertical for many operators, even with popular jurisdictions in the US yet to fully grasp the esports opportunity. With an incredibly busy second half of the year ahead, now is the opportunity to invest in esports betting and capture the eyeballs and attention of large esports consumer markets – particularly the US.
Operators keen to capture the opportunity that the second half of 2024 presents should be considering marketing pushes around the biggest tournaments to come this year. The team at PandaScore has compiled a shortlist of key tournaments for operators to focus on this year, and prepare for in the future.
Valorant’s main event
CHAMPIONS, the penultimate tournament of the competitive Valorant season is right around the corner. Taking place in Seoul from 1-25 August, the tournament is the biggest drawcard for viewership and betting alike in what is one of the hottest properties in esports.
Since bursting onto the scene in 2021, Valorant is the most popular title for bettors outside of the Big 3 esports and has gone from strength to strength since. PandaScore has offered Valorant markets since day one, and the performance of CHAMPIONS in particular has been incredibly strong. Measuring YoY performance, PandaScore’s total turnover generated between the inaugural 2021 tournament and 2023’s event in Los Angeles has grown by over 120%, with an average margin of over 5.6 per cent.
Considering its relatively new status in esports betting and the volatility that comes with a new title that lacks decades of historical data, the popularity and margin performance of Valorant is incredibly attractive to operators. PandaScore client, Rivalry, is investing heavily in the title and eyeing fresh innovations for Valorant, seeking to build its presence in key markets such as Canada, Brazil and The Philippines.
Big 3: Counter-Strike, League of Legends and Dota 2
Across the big 3, betting biggest earner – Counter-Strike – has a slew of significant tournaments coming up. IEM Cologne in August is one of the most prestigious events of the year, followed up by IEM Rio in October which is considered one of the highest energy events of the year. The latter in particular is renowned for its hype crowd and for operators, it’s a major opportunity in an American timezone. Brazilian fans traditionally bet on home teams and there’s no better place for it than in their backyard.
The Thunderpick World Championship in October and the next Counter-Strike 2 Major – Perfect World Shanghai – across November and December will undoubtedly round out the year with a bang. If operators are looking for a focal point to engage bettors, betbuilder bets that tie the winning or losing team to the performance of their respective star players have proven to be a high-volume, high-yield option. To the point that it’s almost a given that if a betbuilder bet is being placed, it features these two markets at a minimum.
The League of Legends World Championship is an opportunity for operators to build out a month-long campaign that tracks and develops as the tournament progresses from September through to November.
Dota 2 of course has its annual The International (TI) taking place in September, but is followed up by another Tier-1 tournament in October with PGL Wallachia. Of particular interest to operators will be exploring how performances at the biggest stage of TI flow through to the subsequent tournament in Bucharest, which has a $1m prize pool on the line.
Esports has already proven itself to be a high-growth vertical that can perform two key functions for operators:
Be a valuable supplement to the sporting calendar that stems the ebbs and flows of traditional sports
An earner in its own right, that runs on its own calendar with a volume of high-quality content and top-tier tournaments.
The second half of 2024 offers a wealth of opportunity for operators who have invested or wish to invest in esports. If you’re equipped with the best products on the market, it’s yours for the taking.