The Perfect World Shanghai Major 2024 elimination stage has just commenced, with the event already showcasing why it is a major milestone in the 2024 Counter-Strike 2 (CS2) esports calendar.
Featuring a $1.25m (~£1m) prize pool, the tournament not only includes intense competition but also opportunities for sportsbooks to elevate their offerings with insights into betting strategies, real-time data and the overall esports betting market. In fact, Counter-Strike 2 is crucial for sportsbooks looking to expand into esports with Abios highlighting in its Q3 2024 report that 58% of total esports betting handle across Kambi’s network of operators is from Valve’s FPS.
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Ahead of the playoffs, Esports Insider spoke to industry experts Niclas Sundell, Sales Director at Abios/Kambi and Pavel Malinovskiy, Abios’ Trading Supervisor specialising in Counter-Strike 2 betting, to get their take on the event and its implications for sportsbooks.
Why Shanghai is the perfect stage for CS2’s future
Unlike some regions, such as Brazil, where rabid regional fan bases largely just support their local organisations, China’s audiences feel more balanced. This is in large part due to the developing nature of the scene. For example, Chinese F1 driver, and Counter-Strike fan, Zhou Guanyu recently shared a post on social media of a signed G2 Esports jersey.
“Shanghai is a fantastic host for this Major,” said Sundell, emphasising the city’s passion for esports. “China has a huge Counter-Strike fanbase, especially for Western teams like G2 and FURIA. Players like M0NESY and Fallen, who also earned the nickname ‘Godfather’ in China, are absolute favourites here—you’ll hear the crowd erupt every time they’re on screen.”
The Chinese market has long been one of the most sought-after territories for esports titles, in large part due to the popularity of the industry in the country as a whole. Following the launch of Counter-Strike 2 in September 2023, there was a clear indication that China would play a significant factor in the game’s esports ecosystem. In November 2023, the game’s developer announced the first ever Valve-backed Major championship in China, the Perfect World Shanghai Major 2024.
“So far, this event could redefine the region’s interest in CS2. It’s more than a tournament—it’s a cultural phenomenon,” added Sundell.
Teams to watch: the elite and the underdogs
Ultimately, Sundell predicts that traditional powerhouses like G2 Esports, NAVI and Team Vitality will dominate the competition.
“Players such as M0nesy and jL have stepped up significantly in Counter-Strike 2 and are ensuring other teams must stay on their toes going against G2 or NAVI. M0nesy, in particular, has been dubbed the best AWPer in the world and is a menace on Dust2 and Mirage,” said Sundell.
Malinovskiy, meanwhile, highlights high-performing underdogs: “BIG and FURIA haven’t seen as strong performers during the year, but BIG looked very strong during the qualifiers, and we wouldn’t be surprised if they made a few upsets during the Swiss round.
He added: “The true Cinderella story lay in UA Passion making it through the qualifiers, but with them gone, the real wildcard is team Wildcard. The American team already made a few upsets during the Opening Stage, pushing out Virtus.Pro and Fnatic.”
Betting insights: player props are the markets that matter
When it comes to betting markets, both experts agree on the importance of ‘player props’ (a bet that is made on an individual player) and real-time data.
“While still important, the modern bettor wants more than 1X2 markets,” said Sundell. “Combination is everything, with bet builders taking centre stage.
“As such, markets like total deaths, bombs planted, and player kills are must-haves. For sportsbooks to offer a successful bet builder, they must adapt by offering detailed and dynamic betting options.”
Malinovskiy added: “We’re rolling out new markets like total headshots by a player, which are perfect for fan engagement. Bettors today are looking for depth and personalisation—this is where player-focused props shine.”
Beyond market offerings, real-time data is also crucial to creating an effective esports betting product.
“Delayed odds are a dealbreaker,” Sundell stated. “To keep pace with CS2’s fast dynamics, sportsbooks must leverage odds providers with access to the fastest data sources available.”
Controversial changes to Major qualifiers
Despite there being hype around Perfect World’s first Counter-Strike Major, it wasn’t without its controversy. In May 2024, it was revealed that there would be no open qualifiers for Europe or the Americas, meaning only invited teams would have the opportunity to qualify for the event.
Ultimately this led to negative feedback from sections of the community, in large part due to previous underdog runs that have accrued through open qualifiers. For this year’s Copenhagen Major, Danish organisation ECSTATIC reached the event by playing more than 20 matches.
“Valve has removed open qualifiers for Majors, cutting off opportunities for Cinderella stories,” explained Sundell. “This is disappointing because these stories inspire players and fans alike. On the flip side, ensuring that only the best teams qualify raises the competitive standard.”
Malinovskiy noted another controversial decision—changing tournament rules mid-event during the RMR. “Miscommunication like this disrupts the competition and could hurt the integrity of the ecosystem,” he said.
Meanwhile, starting in 2025, Valve announced third-party organisers like ESL and BLAST can’t have partnered teams or franchised leagues. This opens up the wider ecosystem and has created more opportunities, and circuits, for emerging teams.
“It’ll be interesting to see if ESL and BLAST capitalise on this by showcasing unknown teams and capturing the magic of underdog stories,” Sundell added.
Final thoughts: preparing for the future of esports betting
As the Shanghai CS2 Major 2024 approaches its most popular stages, sportsbooks should view this event as both a challenge and an opportunity. From offering innovative markets to leveraging real-time esports data, there’s immense potential to capture a growing audience.
“Esports bettors aren’t isolated,” Sundell concluded. “They’re accustomed to exceptional experiences in traditional sports and expect the same in esports. If sportsbooks invest in tools and markets that meet these expectations, they’ll thrive—not just for this Major, but for events to come.”
Whether it’s to support underdogs like Wildcard, crowd favourites like G2, or to analyse the evolving betting landscape, this Major is a must-watch for sportsbook managers aiming to stay ahead of the curve.
