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Exploring ESports Betting

Exploring ESports Betting Blog
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It’s hard to think of an industry evolving at the same rate as the explosion we are witnessing in the gambling industry year after year. Far gone are the dark times when it was practically illegal to place bets anywhere. In this golden age of gambling, people can gamble on not just sports but almost any outcome in the real world. Brave punters out there have the chance to predict who will win the next US presidential election. Others, even more daring, can place bets forecasting what the weather will be like on any given day. Similarly, the industry is witnessing exponential growth in the Esports betting sector.

Esports is a sports competition that, instead of taking place on a field, involves individual players or teams competing in video games. Esports has given birth to Esports betting, simply predicting any outcome from a video game.

Esports Betting Market is Growing Phenomenally

Esports betting is spreading like a Canadian forest fire, and there are a few reasons why this is the case.

  • First is the growth of Esports itself. More and more people, including older age groups, have warmed up to playing video games, creating a corresponding interest in Esports betting.
  • Competitive Esports is also on the rise. It’s one thing to play for fun with friends or family and another different thing to lock horns with a stranger with an actual prize at stake. Competitive video gaming creates the necessary platform for betting on Esports.
  • Internet connectivity worldwide has promoted Esports betting by allowing players and punters to connect across diverse geographical boundaries.
  • Interest in Esports has precipitated interest in TV coverage, further fueling Esports betting.

By 2027, the Esports industry will reach $2.24 billion with a Compound Annual Growth of 8.31% between 2023-2027. By the end of 2022, the Esports betting industry had an average of $300 million. This figure continues to rise commensurately with the global Esports market size increase.

Strategy #1: Know Your Games

Predicting Esports contests with working video game knowledge would be easy. If you’re going to bet on Counter-Strike, then know the object of the game and how to achieve it. That way, it’s easier to understand what betting options are available and which bets provide the best chance of winning. Punters who are actual players of the Esports games they bet on have a huge advantage.

Strategy #2: Know Your Players

Esports contests can be between individual players or teams of players. Some of the more skillful players have become global idols in their own right, owing to well-documented successes in various tournaments. A good example is Marcelo ‘Coldzera’ David, who won best Counter-Strike: Global Offensive player for two years in 2016 and 2017. Backing such a player in an individual contest elevates a punter’s chances of winning a bet.

However, such is the class of players like Coldzera that can also promote teams of otherwise average players to victory. So if a player like that is part of a team, you know you have good chances of success when backing them. Similarly, if they happen to pull out of the group or tournament for any reason, it is wiser to put your money elsewhere!

Strategy #3: Add Live Bets

Like traditional sports betting, many bookmakers also offer live betting for Esports. Simple during pre-match, make straightforward bets, no problem. However, they enjoy plenty of excellent betting action by cleverly picking out live bets after the contest has begun. Live betting has a massive advantage over pre-match betting because it allows the punter access to more information to make more successful predictions.