The Basics of E-Sports Betting

 

Esports betting has become one of the world’s most popular types of online gambling. Millions of esports fans worldwide tune in regularly to watch their beloved esports players and teams compete against each other. Therefore, it’s inevitable that a sizable proportion of fans are seeking ways to bet on esports competitions for whatever reason.

But what’s esports? How does betting work in esports? How is esports betting different from traditional sports betting? Below, we’ll cover all the basics you need to know about esports betting to help you get started in the industry.

Understand eSports Betting

Esports simply refers to competitive video gaming over the internet. Esports is similar to traditional sports in many respects, with fans following players and teams, watching games, and placing wagers like anyone on LeagueofSlots would.

There are two main forms of esports: classic esports games such as League of Legends, Counter-Strike: Global Offensive, and DOTA 2, and simulation of actual sports (e.g., FIFA, MLS, and NBA have esports teams of their own).

Esports is a billion-dollar industry today, with streaming platforms such as Twitch and YouTube making it globally accessible. Some top contests involve players and teams vying for millions of dollars worth of prize cash.

When the COVID-19 pandemic struck between 2019 and 2021, increasing interest in esports naturally led to an increase in esports betting. In early 2020, nearly all traditional sports events were called off.

To overcome the economic effects of COVID-19, sports betting companies switched their attention to esports to stay afloat. Therefore, many people who’d previously placed bets on conventional sports also turned to esports betting.

The Differences Between eSports Betting and Traditional Sports Betting

There are a few ways esports differs from conventional sports betting. While esports refers to competitive digital games played online, regular sports are competitive physical activities like baseball, basketball, and football.

Esports have typically more varied forms of bets than those of traditional sports. For instance, some esports betting websites offer bets on specific tournaments or matches, while others allow bets on how an entire season finishes or even an individual game mode in a game.

How eSports Betting Works

Although it’s possible to bet prior to an esports event, there’s also the option to bet live during any match. This option has become extremely popular because it promises massive cash rewards.

There are three main forms of esports betting:

• Real-money, fixed-odds gambling via an online betting platform.
• Loot boxes and skin gambling, which often occur in-game.
• Social betting between people is set up privately.

Some esports wagers are specific games such as DOTA 2. League of Legends and Counter-Strike: Global Offensive–including first blood, first kill, and first map. Others are typically more widely available, including:

• Correct scores;
• Match winner;
• Tournament winner;
• Under/Over bets–you wager on whether a specific esports will score less or more than the amount specified by the betting site;
• Even/Odds–this involves guessing whether there’ll be an even or odd number of won games, rounds played, or players killed.

How To Place eSports Bets

Betting on any esports event is very simple, particularly if you understand the basics. As with traditional sports betting, all you need to do is choose the right bookie to start the process.

Here are the steps to follow:

Pick an eSports Betting Website

To pick the right esports betting site, make sure it includes most, if not all, esports events and tournaments. Additionally, it should offer competitive odds along with a full variety of esports markets. Lastly, the best esports betting platforms have interesting live betting features like cash-out and live streaming.

Open Your Betting Account

You have to open your esports betting account before accessing esports content and placing bets. After opening your account, the betting site will ask you to verify your account via email, or you can be taken straight into the bookie’s lobby.

Select a Payment Option and Deposit Cash

Selecting the right payment method for you is a crucial step when it comes to esports betting. Browse the cashier section of the betting site and choose your preferred payment option. Some common payment methods found in a bookie are:

• PayPal
• MasterCard
• Visa
• Skrill
• Neteller

Using any of these payment options, make your first deposit while adhering to the minimum deposit requirement.

Place Your Bets

Lastly, you can go ahead and place your wagers. However, placing a bet isn’t a straightforward task. To make a solid prediction, you must research specific esports events and choose a market.

Moreover, you’ll need to compare the odds available. After that, it’s time to place a wager based on your findings. Upon submission of the bet slip, you have to await the outcome of the bet to determine whether or not you’ve won the match.

The Takeaway

Esports has become more and more popular worldwide than ever before. Just consider the number of people who stream competitive video games on sites like Twitch and YouTube. As a result, the ever-increasing popularity of esports has made esports betting quite popular, too.

To get started with esports betting, research the games you want to bet on and their dynamics, understand esports betting basics, start small, gradually increase your bankroll, and, above all, have fun!