Esports tournaments have expanded the world of sports betting beyond traditional sports and opened up new and exciting avenues for competitive wagering. Fans are now betting on their favorite video game matches and players in their millions. This intersection between video gaming, competition, and betting has been unprecedented, lucrative, and popular. This guide looks closer at the opportunities it presents for the gaming and iGaming industries.
What is esports betting?
Esports betting refers to wagering on the outcome of a video game competition or esports tournament. Esports tournaments are a recent but fast-growing phenomenon in which players and teams battle it out professionally over popular video games like Dota 2, CS: GO, and LoL, usually for a cash prize.
Esports betting is similar to traditional sports betting in that bettors use their knowledge of video games and players to make match predictions. While the type of bet you can place on an esports tournament depends on the video game being played, the most popular esports betting markets include:
1. Map winner
2. First blood/kill
3. Total maps played, and
4. First map
How popular is esports betting?
Esports tournaments began as a niche interest but have since grown global, with professional leagues, esports teams, and a wide selection of video games. Over 530 million people watch esports tournaments, and a growing portion bet on these matches.
As the esports industry grows, so does the demand for new betting markets from sportsbooks like Betway. This growth can be attributed to factors such as the growing accessibility of online sports betting platforms, growing interest in betting among younger populations, and the emergence of dedicated esports betting platforms.
What is the allure of esports betting?
Bettors enjoy esports betting because it is new and fresh. Unlike traditional sports betting, where the outcomes depend on tangible factors like injuries and player performance, esports tournaments are unpredictable and volatile. They are also open to a broader talent pool, which adds a layer of intrigue.
For video game and esports fans, esports betting turns passive spectating into active participation, allowing gamers to share the excitement of spirited competitions. The sector is the perfect combination of entertainment, thrill, and risk.
Are there challenges to betting on esports tournaments?
Absolutely.
As mentioned, esports tournaments are volatile and unpredictable. The outcome of a game depends on more than the players or teams. Because most esports tournaments happen or are broadcast online, something as simple as an internet lag or as severe as a DDOS attack can impact how a game ends.
Esports betting is also in its infancy, meaning regulations are rapidly changing. Oversight mechanisms are still in their early stages and are not yet robust enough to protect bettors from unscrupulous actors. There is also a shortage of historical data and statistics to provide bettors with solid insights into esports tournaments.
The esports community is also subject to frequent cheating and match-fixing scandals.
How can I bet on esports successfully?
To bet on esports successfully, you need to understand the specific mechanics, trends, and strategies of your video game of choice. Learn everything you can about your favorite teams and their past performances. Also, stay in the loop on all esports and esports betting news to gain fresh insights.
What is the future of esports betting?
Because the esports industry is still growing, there is much room for growth and innovation in esports betting. Sportsbooks like Betway that offer esports betting will continue to expand their repertoires and data caches to make esports betting more exciting. Meanwhile, regulatory bodies will expand their policies to cover all new games and competition formats to make the landscape safer for all bettors.
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