If you’re interested in exploring a new betting market, esports betting should be on your radar.
With numerous tournaments featuring various game genres held worldwide, it doesn’t matter if you’re familiar with the esports community or a newcomer.
There are potential profits to be made. Although not as mainstream as traditional sports, the esports industry is rapidly growing and gaining momentum.
Over the past few years, gambling on esports has gained immense popularity, with the betting market projected to surpass the actual industry in value.
In fact, its estimated worth for this year is around $10 and is expected to double by 2023.
Despite being overlooked by many traditional betting enthusiasts, there is substantial money to be made by betting on esports competitions, and here’s how you can get started.
Understand Esports Betting Markets
Esports betting markets are similar to those found in traditional sports betting. Money line betting is prevalent, where you choose the winning side. Handicap betting is also common. You can bet on totals, such as total kills or total rounds.
Proposition bets can be enjoyable if you’re a fellow gamer. These bets involve predicting specific in-game tasks, such as which team will draw first blood in League of Legends or which team will complete a map first in CS:GO.
Find a Competition
Numerous esports tournaments take place at national and international levels throughout the year in different parts of the world. Some attract thousands of participants who compete individually or in teams, spanning both professional and amateur levels.
While some competitions, like the “League of Legends World Championship” or “The Overwatch League,” focus on determining the best players in a particular game, other events, such as “DreamHack,” feature a variety of games.
Our advice is to choose a game and specialize in it. It’s best to stick with a game you’re already familiar with and conduct thorough research on the competitors before placing your bets. Dive deep into understanding the team members, their roles, and how they compare to their opponents.
One unique form of betting in esports is skin gambling. Skins, commonly associated with games like CS:GO or DOTA 2, alter the appearance of in-game weapons. Skins can be earned, purchased, sold, or traded and have real-world value.
Some rare skins can be extremely valuable. This is why they are often used as stakes in gambling. Bettors can wager their skins on specific outcomes, and if they win, they receive their skins back along with those of the losing party. It’s important to note that skin gambling has declined in popularity since 2016.
Remember, responsible gambling is essential. Set a budget for your bets and avoid chasing losses. Keep up with the latest esports news and trends to make informed decisions. Good luck with your esports betting journey!