What is Esports Betting?
Before we dive into the exciting stuff, we must understand what the term esports means, and where did it come from. Electronic Sports, or eSports, is genre of games and digital sports played on electronic systems. Nowadays, this term is widely used to refer to the medium of competitive video games.
The first video games championship was held by Atari, but the recent trend of eSports emerged in the last decade. The rise of online multiplayer video games carved the path for eSports and betting on eSports. The bettors have found a creative way to circumvent the law, and have created play-money, which can be used instead of real money.
In the beginning, the opponents had to use the same gaming console in order to battle one another. With the advancement in technology, your opponent could be sitting hundreds of miles away from you, and might be using an entirely different gaming console.
According to the recent reports, more than one billion players take part in video gaming in this decade. Betting on eSports is gaining a large fan base, and more and more endeavours are being created for the gamblers to satisfy their thirst for money based eSports bonuses and free Esports bets.
How Does Competitive eSports Work?
Betting on eSports is becoming increasingly popular among the youth and the global betting community as professional esports events continue to establish themselves. Although the beginning of eSports was a little rocky, risky and slow, yet it has gained a lot of attraction recently and is destined for mass adoption in the coming years. The free-to-play battle royale genre and action/RTS games have given rise to its unstoppable popularity and increase.
According to a recent calculated prediction, the esports betting industry is expected to be worth $3.3 billion dollars by the year 2028. Since most of the gambling industry focuses solely upon betting on real world sports, the eSports sector of the industry is just getting out of its infancy phase.
There are two types of video gamers; casual players and professional players. While casual players enjoy the games for the fun of it, professional players tend to take the entire game to a whole new level. The official eSports tournaments offer prize pools valued at more than a million dollars.
These contests are not attended and enjoyed by just the live audience, but streaming services also host these for the entire globe to watch. Some of the online betting websites offer sign up bonuses to newcomers to getting involved with real money betting for the first time.
Professional players often play solo, but in major leagues and tournaments, all the big matches are usually among the top eSports teams of the world. You can bet on solo matches, tournament matches and pro leagues. Before you begin betting, let’s take a look at different types of sign up bonuses and offerings available in 2024.
Types of Esports Betting
- Real money betting
- Skin betting
- Social betting
- Fantasy betting
Betting platforms offer a wide variety of betting options to users, including generous esports bonus offers for new sign ups. These cater to all the betting needs of the users, and they feel free to invest more and more into losing and winnings bets on esports. From real world-money to in-game items, you can bet on pretty much everything if you want to.
- Real Money Betting: Closer to the traditional sports betting, this option allows you to bet your hard earned real world cash on esports matches all over the world. You can place a bet after taking a look at the offered odds and stats of the players. If you win, your money is deposited into your online account, and you can withdraw it at any time you want.
- Skin Betting: As obvious from the name, this betting form allows you to bet the customized skins of your avatars online. These skins are either purchased or earned during the game, and when the betting season is on its peak, you can bet the skins on betting websites. It is also categorized as item betting. You can also use other in-game items and in-game currency to place your bets.
- Social Betting: This is a combination of the previously discussed betting forms. Two parties can come to a mutual agreement and place a bet between themselves. Once the outcome of the match is decided, they can make the final settlement of the bet. They can use real-world money, skins, or in-game items. This is highly risky, as the parties might refuse to honor the terms of the bet.
- Fantasy Betting: This is a betting form for just the players. They go head-to-head in challenges and matches, and the final settlement is decided based on the outcome of the matches. Some websites formally organize these local tournaments, but players usually challenge each other online informally.
Conclusion
There is a difference between casually betting and earning real money on esports bets in terms of real world fiat or cryptocurrencies and claim free esports. You can be a newbie or a veteran player, but if you don’t know how to bet properly, understand the odds properly, then you will essentially be throwing away your hard earned cash on useless bets.
Earning money betting on esports would mean having an excellent understanding of esports teams, players, leagues, and gameplay. Furthermore, you need to beat the world’s best bookmakers, and expert bettors. This form of betting requires knowledge, time, patience, and a lot of effort in order to start making some money.
So, we suggest you take some time, learn the gameplay, understand the stats and odds offered, and participate using sign up bonuses before you end up risking any of your hard earned money.
There are tons of bookmakers on the internet nowadays, but you must find the best ones in order to understand this industry better. Betway esports, Arcanebet.com, and Galaxy.Bet are some of the top websites which offer exclusive information about all the eSports games, their odds, stats and previous tournaments’ histories.
Begin slow, take your time, and when you think you are ready for the action, jump right into betting on esports events.
