Betting on Esports
Esports are any competitive video games played between teams or individuals. Over the last decade, the popularity of Esports has exploded. With huge esports tournaments, great esports teams, and players who play in front of substantial screaming fans, esports is attracting millions of fans.
In fact, in 2021, the global esports market valued around 1.08 billion US dollars, an almost 50% increase from the previous years. Like in other sports, the competitive gaming opportunity in esports has opened the world a path for esports betting.
Is betting on Esports Similar to Traditional Sports Betting?
As you get used to esports, you will realize that esports betting is the same as traditional betting on basketball, soccer, or horse racing.
Select the betting market and check out the best esports odds that suit you to make an esports bet. The great advantage of betting on esports is that it is more engaging with the stats, communities, social media, live streaming from the best betting firms making esports betting a great experience.
Popular Currencies in Esports Gambling
There are mainly two choices for esports gamblers: cash and skins.
Esports cash markets are similar to traditional online betting, such as online casino games where you use cash to place a bet.
Esports Skin Betting
Skins are virtual items used in games like CS: GO (Counter-Strike: Global Offensive). The word skin is acquired from the function of the virtual items: changing the appearance of weapons, equipment, or player’s in-game avatar. The skins betting market-dominant currency is the CS: GO skin, accounting for over 80% of betting activities.
This is how the skins work:
- A gambler deposits a skin by transferring the skin to the skins betting site.
- Then, place a bet using the deposited skin. (The skin acts as the currency that the gambler receives)
- If you win, you will be paid in additional skins
- Once you have the skins in your account, you can:
- Leave it dormant in your inventory.
- Use the skin to change the color of your weapons.
- Trade with other players using skin.
- Sell the skin for steam credit that can be used to purchase other skins.
Popular Games in Esports Betting
The following are games that dominate the esports betting
- Sports Betting
Among the most esports fans, sports betting is the most popular product. Esports betting is the same as betting on traditional sports, the only difference being that esports betting product is a little bit more developed.
Gamblers can choose between skin-based or cash-based sites when betting on esports matches.
- Fantasy Esports
Fantasy matches are not more popular than sports betting in esports, but they are still in demand. Majority of the sites serving fantasy matches deals in cash betting
The basics of fantasy esports
In fantasy esports sites, gamblers select a list of players for their fantasy team, but they are restricted with a salary cap by the betting site – otherwise, you will only buy big players making the game lose taste. After team selection, the competitors in esports will score points based on their player’s performance in the competition. The punter with the leading points at the end of the round will win cash prizes.
Fantasy esports offers the following types of contests:
- A guaranteed contest where the top entries will receive part of guaranteed prizes
- Head-to-head matches
- 50-50 contests where half the field is paid
- Double or triple contests
- Qualifiers for other contests
- Jackpot Games
Jackpot games are lottery-style games where players can make considerable pay from low stakes. Jackpot games are mainly found on skin betting sites.
- Casino Style Games
The casino-style games offered in esports gambling include blackjack, roulette, and raffles. Again, these kinds of games are mainly found on skin betting sites.
- Social Betting
This is where online contacts or friends place informal bets on the outcome of events among themselves. The bet can be for real money, skin, or other items. The individuals set the betting terms and conditions.
Tips For Betting on Esports
- Research on Esports Teams
Esports has many teams and players, which can be challenging to keep up with all their developing records. Therefore, always do research before betting.
- Bet on Live Esports
There is nothing wrong with betting before the game begins, but gambling online on esports matches will help strategize as the odds unfolds.
The Esports industry is growing at high speed. If you desire to become a successful esports gambler, you will need to keep up with the pace of its growth.