How Esports Betting Works: A Beginner’s Guide
Esports betting is becoming increasingly popular, but how does it work? This beginner’s guide will tell you everything you need to know about how to bet on esports.
Introduction
Welcome to our guide on how esports betting works! This guide is intended for those who are new to betting on esports, and it will cover the basics of what you need to know in order to get started.
We’ll start by briefly discussing what esports are, and then we’ll move on to talking about how betting on esports works. We’ll also cover some of the most popular bet types that you’ll encounter when betting on esports.
So, without further ado, let’s get started!
What is esports betting?
Esports betting is a form of gambling that refers to betting on the outcome of video game competitions. This type of betting is similar to traditional sports betting, but the odds are usually determined by the bookmakers. The most popular games for esports betting include League of Legends, Dota 2, and Counter-Strike: Global Offensive.
How does esports betting work?
Esports betting is a relatively new phenomenon, and as such, the market is still finding its footing. With that said, the basic concept of esports betting is not all that different from traditional sports betting. Essentially, you are placing a bet on the outcome of a particular match or tournament.
The big difference with esports betting is that you are typically betting against other players rather than against the bookmaker. This is because the bookmaker will usually have very little knowledge about the teams or players involved in any given match. Instead, they will set odds based on the bets that have been placed by other players.
If you want to place an esports bet, you will first need to find an online bookmaker that offers this service. Once you have found a bookmaker, you will need to create an account and deposit some money into it. Once you have done this, you will be able to browse the various matches and tournaments that are available to bet on.
When choosing a match to bet on, you will need to consider a few different factors. Firstly, you will need to make sure that you know something about the teams or players involved. This information can usually be found online or through social media. Secondly, you will need to think about what kind of bet you want to place. There are many different types of bets that can be placed on esports matches, so it is important to choose one that suits your needs. Finally, you should also consider the odds before placing your bet.
Once you have chosen a match and a bet type, all you need to do is enter your stake and click ‘place bet’. If your prediction is correct, then you will win money based on the odds that were set by the bookmaker.
What types of bets can you make on esports?
There are three main types of bets that you can make on esports:
-Against the spread (ATS)
-Moneyline
-Totals (over/unders)
ATS bets are similar to those made in traditional sports like football or basketball. With this type of bet, you’re essentially picking one team to win while also predicting how much they’ll win or lose by. For example, let’s say that Team A is a -5.5 favorite against Team B in an upcoming match. If you bet on Team A, they would need to win the match by at least six points for you to cash in on your bet. Conversely, if you bet on Team B +5.5, they could lose the match by up to five points and you would still win your bet.
The moneyline is the most straightforward type of bet in esports. When betting on the moneyline, all you have to do is pick the team or player that you think will win the match outright. The odds for each side will be represented by either positive or negative numbers. The favorite will have negative odds (i.e. -150) while the underdog will have positive odds (i.e. +150). For example, let’s say that Fnatic is a -250 favorite against G2 Esports in an upcoming match. This means that for every $250 that you bet on Fnatic, you would stand to win $100 if they ended up winning the match. Alternatively, if G2 Esports was +250, this would mean that a $100 bet on them would net you $250 if they were able to pull off the upset victory.
With totals bets (also known as over/unders), sportsbooks will set a number for how many rounds or kills they think will happen in a particular match. Then it will be up to the bettor to decide whether there will be more or fewer rounds/kills than what the sportsbook is predicting. For example, let’s say that a bookmaker predicts that 22 rounds will be played in an upcoming Counter-Strike: Global Offensive match between Astralis and Natus Vincere with the over/under set at 22.5 rounds (-110 for the over and -110 for the under). If you think that there will be more than 22 rounds played, you would bet on the over (-110). On the other hand, if you believe that there will be 22 or fewer rounds played, you would take the under (-110).
The esports betting market
The esports betting market is still relatively new, but it is growing rapidly. There are a few different ways that you can bet on esports, but the most popular way is through online bookmakers. This beginner’s guide will teach you how to bet on esports.
Who are the major players in the esports betting market?
The esports betting market is still in its early stages, but there are already a number of major players involved. These include traditional sports betting companies, online gambling operators, and dedicated esports betting sites.
Traditional sports betting companies are getting involved in esports betting in a number of ways. Some have created dedicated esports betting products, while others have simply added esports to their existing sportsbook offerings. In either case, these companies bring a lot of experience and expertise to the table, which is helping to drive the development of the esports betting market.
Online gambling operators are another major player in the esports betting market. These companies have been quick to see the potential of esports betting and have been quick to launch dedicated products. Many online gambling operators already have a large customer base interested in esports, so they are well-positioned to capitalize on this growing market.
Dedicated esports betting sites are another key player in the market. These sites are usually created by people with a background in either traditional sports betting or online gambling. They offer a wide range of features and options for bettors, which makes them an attractive option for those looking to get into esports betting.
How is the esports betting market growing?
The short answer is: a lot. In fact, according to a report by Newzoo, the esports betting market is expected to grow to $30.5 billion by 2020. That’s an increase of nearly 33% from 2018.
A big reason why the betting market is growing so rapidly is because there are more and more people watching and playing esports. According to the same Newzoo report, the global esports audience will reach 453.8 million people in 2020, up from 410 million in 2019.
With more people watching and playing esports, there are simply more potential customers for betting sites. And as the industry grows, we can expect to see even more innovation in the space, which will only make it easier and more enjoyable to bet on esports.
The future of esports betting
What trends are shaping the future of esports betting?
The global esports betting market is forecast to grow from $3.5 billion in 2019 to $12.9 billion by the end of 2025, according to data published by Global Market Insights. That represents a compound annual growth rate (CAGR) of 23.8%.
There are a number of factors driving this rapid growth, including the increasing popularity of esports, the rise of mobile gaming and the growing legalization of online gambling.
However, there are also a number of trends that are specific to esports betting that are helping to drive its growth. These include:
The rise of online bookmakers: In recent years, there has been a proliferation of online bookmakers offering esports betting markets. This has made it easier for fans to bet on their favorite teams and players, and has helped to drive the growth of the market.
The growth of skin betting: Skin betting is a type of gambling that uses virtual items (skins) as currency. It is particularly popular in first-person shooter games such as Counter-Strike: Global Offensive (CS:GO).
According to data from Eilers & Krejcik Gaming, skins betting accounted for around 19% of the global esports betting market in 2016, with an estimated value of $5 billion. This is expected to grow to $12 billion by 2020.
The rise of social media: Social media platforms such as Twitter and Facebook are playing an increasingly important role in the world of esports. They are being used to promote events, broadcast matches and provide a forum for discussion and debate.
This is also having an impact on betting, with Twitter becoming a key platform for advertising odds and promoting offers from bookmakers. In addition, social media is being used by some bookmakers to allow customers to place bets directly through their platform.
The rise of cryptocurrency: Cryptocurrency is also playing an important role in the future of esports betting. This is because it allows bets to be placed anonymously and without the need for a bank account or credit card. In addition, it can be used to bet on matches that are taking place in different parts of the world without having to worry about exchange rates or international money transfer fees.
according to data from Eilers & Krejcik Gaming, cryptocurrency accounted for around 4% of the global esports betting market in 2016, with an estimated value of $1 billion. This is expected to grow to $5 billion by 2020
What challenges does esports betting face?
Despite the rapid growth of esports betting, the industry faces several challenges that could hinder its further development.
First and foremost, esports betting is still a relatively new phenomenon and as such, it is not yet regulated in most jurisdictions. This lack of regulation creates a number of risks for both bettors and bookmakers, including the possibility of fraud and the potential for underage gambling.
Another challenge facing esports betting is the fact that most tournaments are organized by third-party organizations, rather than the games’ publishers themselves. This can make it difficult for bookmakers to obtain accurate information about the participants in a given tournament, which can in turn make it difficult to set accurate odds.
Finally, many traditional sportsbooks have been reluctant to embrace esports betting due to concerns about the relatively small size of the market and the lack of mainstream appeal. However, with the continued growth of both esports and betting on esports, it is likely that these obstacles will eventually be overcome.
