Older millennials are powering the esports betting boom

Esports betting is no longer just a playground for Gen Z. Recent data shows that older millennials, those in their late 20s to early 40s, are now a driving force behind the rapid growth of esports wagering worldwide.

In 2024, the 18–43 age group accounted for 87% of all esports bettors, with millennials making up about half of that demographic.

This shift highlights how a generation that grew up with video games is now fueling a multi-billion-dollar betting industry.

The appeal of esports betting for older millennials lies in both familiarity and opportunity. Many of these bettors have been fans of games like Counter-Strike and Dota 2 for over two decades.

These titles have evolved alongside their audience, maintaining relevance through regular updates and global tournaments that attract millions of viewers.

The nostalgia and deep knowledge older millennials have for these games give them confidence to engage in betting markets, often leveraging their understanding of team strategies and player performance to make informed wagers.

Esports betting platforms have also adapted to the digital habits of this age group. Unlike traditional sports betting, which often requires physical sportsbooks or desktop access, esports betting is fully online and optimized for mobile devices.

This digital accessibility resonates with tech-savvy millennials, who are comfortable navigating apps, streaming matches on Twitch or YouTube, and placing real-time bets during live events.

The industry’s embrace of features like live betting, dynamic odds, and instant payouts further enhances the appeal for a demographic accustomed to instant digital gratification.

Another factor drawing older millennials is the variety and frequency of betting opportunities. Esports tournaments take place year-round, across multiple time zones, and offer dozens of betting markets per match, from predicting map winners to in-game events like first kills or round totals.

The financial impact is substantial. Esports betting revenue hit $2.5 billion (€1.8 billion) in 2024, with over 74m people participating globally.

As the industry matures, major sportsbooks are expanding their esports offerings, and new technologies like AI-powered analytics and blockchain payments are making the experience even more attractive for experienced bettors.

With older millennials bringing both passion and spending power, esports betting is set to continue its upward trajectory, reshaping the way a generation engages with competitive gaming and online gambling.