Esports has seen a phenomenal rise in popularity, with over 575 million viewers projected worldwide in 2024. Due to the industry’s competition with some traditional sports for the audience, revenue has exploded. Leading Esports brands like TSM and 100 Thieves are over $450 million. Data is crucial in esports betting. Oddsmakers must access the best data analytics available to establish odds for matches in the most informed manner. More so, esports bettors require reliable, enriched, real-time data to make knowledgeable selections.
Esports Betting Data Analytics: What Are They?
Have you ever wondered how oddsmakers choose the odds for various events, including futures, props, and games? The long answer is complicated, but the short answer isn’t. They collect and analyze tons of data on teams, players, weather, location, trends, history, etc. Of course, you could look for all that information, comb through it, and compile it into a comprehensive profile of the matches, teams, and individuals you want to wager on. Or you may employ the tools produced by sophisticated computer systems and algorithms that process the same data the oddsmakers do and provide you with predicted models.
How Are Analytical Tools Used?
The most straightforward response is computers without delving too deeply into the technical facets of algorithms, neural networks, and artificial intelligence. Algorithms analyze data points using mathematical formulas, sometimes networks, to organize, assess, and forecast many elements of the sports and sports betting businesses. These tools use “Intelligent” programs that can “learn” as they make predictions. These computer systems, which employ artificial intelligence, create predictive models using statistics and data from external sources and gain knowledge via experience. The “machine learning” network uses the findings as an analytical point to understand better why it was successful or failed and how to improve on those outcomes, depending on how well or poorly it performed on its predictions. As programming becomes more complex, sports betting expands, and more information becomes available across the industry.
What Makes Esports Analytics Worthwhile?
Esports bettors are into analytics for a variety of reasons. The most straightforward response is that, even if you decide to perform most of the research manually, esports betting analytics can still help you save time, lower the likelihood of human mistakes, and double-check your data. It would help if you considered the worth of your time. A sports betting analytics tool might not interest you if you have the time and ability to conduct independent research for your wagers. On the other hand, using an analytics service can help you maintain your concentration on your bets without having to do all the work yourself if you’re the type of bettor who only has a little time.
These services assist you in achieving your objectives of more earnings, larger bankrolls, and more profitable wagers. Having all the required data helps decide how much time to spend researching vs. breaking down the relevant information. Of course, many aspects go into such achievement. But remember that nothing is infallible, so sustained success over the long run is not guaranteed.
How To Utilize Analytics Data For eSports Betting: Some Tips
Although esports betting analytics tools are not the be-all and end-all of analysis and planning, there is no doubt that those who employ them gain advantages. Always remember that sports are unexpected as our first piece of advice. Although analytics is the best predictor of events we’ve seen in the sports betting industry, there will inevitably be accidents, terrible situations, and upset victories. There are no predictions for any sports, and analytics is hardly a magic wand.
Our most valuable advice is to include esports analytics tools in your approach. It is our favorite piece of advice. Knowledge can help you make better selections, identify trends, understand what institutional and seasoned bettors are doing, and more. You achieve the best edge in this manner.
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.
