Whether you’re aware of it, the eSports betting industry is enormous. And it’s only starting to. According to data compiled by Statista, the eSports betting market grew to $1 billion last year. That number should increase to $1.6 billion over the next two years. Whenever a sport becomes popular, betting comes along. Again, unsurprisingly, more and more betting enthusiasts are looking into eSports betting. Of course, if you’re new to the world of eSports betting, getting started isn’t easy as ABC. But fear not, dear reader. Do you need the basics of eSports betting? You’ve come just to the right place. When you finish this article, you’ll know what eSports betting is, how it works, and how you can win.
What Are eSports?
Ok, let’s quickly define eSports first. These are competitive video games. Sports for the tech-savvy. Your programmer’s competitive hobby. If you own a console or a personal computer, you can get your start in eSports. Of course, that’s like saying you can become a basketball player if you have a hoop. Like any other sport, eSports require skill, dedication, and hard work. It’s a multi-billion dollar industry, and you can’t just walk in and become a dominant player. There are many professional teams, tournaments, and leagues around the world. Dota 2, League of Legends, and Counter-Strike are some popular games. And you know what? You can bet on all of them.
Why Are eSports So Popular?
Not only can you attend eSports events live and watch the matches in person, but you can also stream nearly all of them. And these are popular, and specific matches attract hundreds of thousands of viewers. Some even get the attention of millions. For instance, in May 2021, the PUBG Mobile Global Championship attracted more than 3.8 million viewers. Some traditional sporting events get far fewer eyes. But why is it so? What makes these events so appealing? While there are dozens of reasons for it, here are the obvious ones:
- They’re easy to stream: With platforms like Twitch, organizations can easily organize and stream events for fans from all four corners of the globe.
- Social media-friendly content: Creative kills, event recaps, and player reactions make for short, entertaining, and shareable content.
- Sponsorships and prize money: The growth of eSports has attracted a lot of sponsors, increased prizes, and in turn, drawn in a new generation of professional players.
Traditional Sports Betting vs eSports Betting
As mentioned earlier in the article, eSports betting has been gaining traction for a while. If you’re interested in it, you need to know a few basic things about it. You’ve placed a bet before. It has to be similar, right? You are correct. However, there are some dissimilarities between the two betting styles, including:
- More markets: While there are hundreds and hundreds of traditional betting styles, eSports offer even more. Not only can you bet on tons of games, but you can also bet on different things happening in the game, like first kills, kill styles, etc.
- More expertise: Although famous, eSports betting is still a niche thing. To start betting, you need must a lot about the game and its players. It’s not often that a complete outsider comes in and starts making severe dollars.
- More games: The average length of an eSports game is only a couple of minutes. That means you can bet on multiple matches on the same day. And it also means that the betting markets are often open for a shorter period.
Different Types Of eSports Betting
So you do want to start betting on eSports. Maybe you’re a CS:GO guy who likes watching matches. But placing some money with your friends on a game isn’t the same as professional betting. You need to know some things before you can start. Here are the most popular types of eSports betting:
- Moneyline Betting: Pretty straightforward; select who will win a match, game, or tournament, and you guess right – you win big—nothing more to it.
- Handicap Betting: Underdogs start a game with a handicap. If you pick the team that’s not the favorite to win, you’ll earn a lot of money.
- Outright Betting: Picking a winner of an entire eSports tournament. You place the bet before the event happens, and you wait to see whether or not your team will take it all.
- Prop Betting: Bets on small events during a big tournament. During a match, the bets change on specific things, like one-shot kills.
- Live Betting: Betting on games while they’re happening. As the match progresses, the betting odds will change—one of the most exciting ways of betting on eSports.
Start eSports Betting Today
Those are the basics. There’s a lot to know about eSports betting. Finding out about different bets and tactics can make a huge difference. Do your due diligence before placing a dollar on an eSports match, and you’ll be alright.
Frequently Asked Questions About Esports Betting
"Skin betting" is a form of betting that uses in-game items, also known as "skins," as a form of currency. These skins can be earned or purchased in-game, and can be used to bet on the outcome of esports matches or other in-game items or real money. Skin betting can take place through third-party websites that use skins as a form of currency, or through the use of in-game trading platforms that allow players to exchange skins with one another. The practice of skin betting has been controversial, with some arguing that it constitutes illegal gambling, while others argue that it is a legitimate form of virtual currency trading.
The process of determining odds for esports matches can vary depending on the bookmaker or the betting platform. In general, the odds will reflect the perceived likelihood of a particular team or player winning a match.
One way that odds are determined is through the use of statistical analysis and data. Bookmakers will use historical data on teams and players to evaluate their performance, and use this information to set odds. They will also take into account current events and factors that might influence a match, such as injuries or roster changes.
Another way odds are determined is through the use of public betting patterns. Bookmakers will track the bets that are placed on a particular match, and adjust the odds based on the amount of money that is being placed on each side. This can create a feedback loop, where the odds are influenced by the bets being placed, which in turn influences where people place their bets.
Bookmakers also use expert analysis and predictions from professional players and analysts to set odds. They also take into account the general perception of the teams and players on the scene, their performance on the previous tournaments, and the map pool.
It is important to note that the odds for esports matches can change frequently and rapidly in the lead-up to a match and during the match as well. So it's advisable to keep an eye on the odds and make sure to place your bets at the right time.
In-game items and virtual currencies can play a significant role in esports betting. As mentioned before, "skin betting" is a form of betting that uses in-game items, also known as "skins," as a form of currency. These skins can be earned or purchased in-game, and can be used to bet on the outcome of esports matches or other in-game items or real money.
Skins can also be used to purchase virtual currency, which can then be used to place bets on esports matches. Some bookmakers or betting platforms offer the option to use virtual currency to place bets, in addition to or instead of real money.
In-game items and virtual currencies can also be used as prizes in esports betting. For example, a bookmaker may offer a skin or virtual currency as a prize to the winner of a betting pool or competition.
In-game items and virtual currencies can also be bought and sold on third-party marketplaces for real money. This means that players can earn real money by selling in-game items that they have earned or purchased. This creates a whole economy around in-game items and virtual currencies, which factors into esports betting.
It's important to note that while some sites are legitimate, many are not, and the use of in-game items and virtual currencies for betting can be risky. Players should be aware of the legal and regulatory issues surrounding skin betting, and should only use licensed and regulated platforms.
Yes, here are a few tips and strategies for successful esports betting:
- Research and stay informed: Keep up to date with the latest news and developments in the esports scene. This includes information on teams, players, tournaments, and game updates.
- Understand the game: Have a good understanding of the game you're betting on, including the rules, strategies, and the current meta.
- Use statistics: Use statistics to help you make informed decisions. There are various websites that provide statistics on teams and players, including their performance in past matches and tournaments.
- Keep track of odds: Keep track of the odds for the matches you're interested in betting on, and make sure to place your bets at the right time.
- Manage your bankroll: Set a budget for your bets and stick to it. Don't chase your losses, and never bet more than you can afford to lose.
- Have discipline: Have discipline and control over your emotions, avoid impulsive betting.
- Shop around for the best odds: Different bookmakers will offer different odds for the same match, so make sure to shop around for the best deal.
- Specialize in a specific game or league: It's better to specialize in a specific game or league rather than trying to follow everything.
- Never overlook the underdogs: Don't overlook the underdogs, as they can sometimes pull off an upset, and offer better odds.
- Use a betting exchange: Consider using a betting exchange, which allows you to bet against other players rather than against a bookmaker.
It's worth noting that while these tips and strategies can help increase your chances of winning, there is no guarantee of success in esports betting, and it's always important to gamble responsibly.
Yes, we do offer bonuses for new players, such as sign-up bonuses, referral bonuses, and loyalty bonuses. These bonuses can be in the form of free bets, deposit matches, or cashback.
Yes, many online esports betting sites offer live betting, which allows players to place bets on ongoing esports matches.
The most popular esports to bet on include games like League of Legends, Dota 2, CS:GO, and Overwatch.
