PandaScore Q1 esports betting report
PandaScore’s Q1 2024 data reveals notable shifts in esports betting trends as the new season tournaments engage players and bettors alike.
The onset of the new year marks a pivotal moment in the esports landscape, with players from titles such as Counter-Strike returning from their holiday hiatus, while League of Legends (LoL) revs up for its season, Dota 2 embraces a new competitive format, and Valorant kicks off its highly anticipated tournaments.
Now that the first quarter of 2024 is behind us, we can analyze comprehensive performance data to identify changing betting behaviors and forecast developments in the esports betting sector for the upcoming year.
Most Popular Esports Titles in Q1 2024
A review of esports performance throughout 2023 indicated that Dota 2 had surprisingly overtaken League of Legends as the second most popular esports title based on turnover among clients of odds and data provider PandaScore.
However, as the 2024 season commenced, LoL reclaimed its position as the second most bet-on title, fueled by renewed interest in domestic competitions in China and Korea, along with a resurgence in the North American esports scene.
In contrast, the Dota 2 landscape has been affected by the discontinuation of the Dota Pro Circuit format, reverting to a more decentralized tournament model reminiscent of Counter-Strike. In September 2023, Valve, the developer behind Dota 2, announced the discontinuation of the Dota Pro Circuit, citing a decline in excitement and engagement.
Moreover, the performance of eBattles, including eSoccer and eBasketball, in Q1 underscores the significant link between these verticals and the traditional sports calendar. eBasketball accounted for one-third of the total turnover in eBattles, largely driven by the NBA’s ongoing regular season.
Live Betting Trends Among the Big Three
In terms of overall averages across all titles, Q1 results demonstrated that the leading trio—Dota 2, Counter-Strike, and LoL—have solidified their dominance, largely due to robust live betting options. The consistent 60-40 split between live and pre-match betting remains a staple, particularly for Counter-Strike and League of Legends, while Dota 2 shows even stronger affinity for live betting.
Several elements contribute to Dota 2’s heightened emphasis on live betting. The game’s inherent complexity appeals to bettors who possess a deep understanding of gameplay intricacies and feel confident in their decision-making during matches. The typical duration of matches, ranging from 40 to 60 minutes, provides ample opportunity for active live betting markets.
Top Tournaments of Q1
Among the tournaments featured in Q1, Counter-Strike’s PGL Major stood out as the most significant in terms of overall turnover, with its main event, alongside the European qualifiers, ranking among the top 10 in total betting volume.
This tournament marked a historic transition as the first major event played on Counter-Strike 2, showcasing thrilling matches that captured the attention of fans and bettors alike, ultimately surpassing the renowned IEM Katowice as the second-highest turnover generator.
On the Dota 2 front, the Dream League has consistently garnered interest from bettors. However, the departure from the structured Dota Pro Circuit has empowered this competition to cater more effectively to fan and bettor demands.
League of Legends also enjoyed strong performance this quarter, bolstered by high-profile tournaments such as China’s LPL and Korea’s LCK, both of which consistently rank as top performers.
A surprising development this quarter was the resurgence of the North American League of Legends Championship Series (LCS) within the top 10. After a decline in viewership and turnover following a shift to mid-week slots, returning to weekend play has reinvigorated the league, contributing to a revival in engagement.
Looking ahead to Q2, with major tournaments such as LoL’s Mid-Season Invitational and regional leagues for Valorant, alongside the Shanghai Masters, operators can anticipate a more diversified performance across their esports portfolios through the end of June.
