Fans are projected to bet around $23.5 billion on e-sports by 2020, according to market research by Eilers. From this betting pool, operators would generate $1.8 billion in revenue.
Online betting company Bwin has already noticed the increasing popularity of e-sports betting.
In March, the company reported, that based on the pace of turnover for e-sports betting, it is expected more bets would be made on an upcoming tournament for the video game "League of Legends" than on who would win this year's European football Champions League.
"E-sports has matured over the past few years to the point that it is now on par with some of the leading major sports in terms of viewership, following and interest," said Alex Igelman, managing director of Gaming Research Partners, in a report.
"Many of the world's leading bookmakers regularly take bets on numerous eSports matches and although in its infancy, the betting volume already exceeds that of golf, tennis and rugby and is rapidly growing," he added."