The interest in esports is growing with time. Millennial consumption of the sport is high and it is predicted to soar in the near future. Professional players gather in one place to play tournaments. The winning prizes are always lucrative hence the growing number of teams taking part in the game.
The growing number of players has also seen the growth in the number of people who want to bet on the game. This article will give you a detailed guide into esports betting and other details that a novice bettor ought to know. You’ll also learn about the available markets in the esports betting industry.
Betting on esports is slowly picking pace. Even though it started on a low footing, it is bound to explode in the new future. This is will be possible due to the growth in technology and internet connectivity. Let’s share with you some of the best esports tips.
What is esports?
It is a form of video gaming that is highly competitive. The game provides a wide range of genres to choose from. They include:
- First-person shooter
- Multiplayer online battle arena
- Dota 2
- LoL (league of legends)
Players can compete online or in arenas. Some of the most successful tournaments such as LoL World Championship take place in arenas.
Introduction to esports betting
There are different ways to bet on esports. Some of the most common are:
- Real money betting
This type is similar to the conventional way of betting. A punter places real money wager and wins once odds are in his favor. The betting options are numerous. You can bet on the team that will win the tournament or winners of individual matches.
- Skin betting
It is the most common type of betting in the esports arena. The games provide players with virtual equipment needed for playing the games. These items can be traded by the players within the video game. As a result, there are numerous sites where players can buy and sell their tools.
- Social Betting
Common among players. It involves placing bets on the outcome of a match between themselves. The winner can either take away skins or money. This type is not recommended as it can lead to unforeseen falling out between players.
- Fantasy Betting
It is similar to fantasy football betting. However, rosters are generated using esports players.
- Understand the risks involved
Just like other forms of betting, losing is far more common than winning. Be ready to face the consequences as losing doesn’t guarantee a refund.
- Use reputable sites
It is not common to find physical esports betting companies. This is because it is legalized in a few places such as Nevada, hence online betting is the only option available. There are many online platforms but few are genuine. Some of the best sites are Betway Sports and Betrally.
- Set objectives
You should have a set objective before you start betting on esports. Objectives keep you focused and motivated. Money should not be the main objective here since losing can be detrimental. As a starter, your main objective should be to learn betting skills and other esport tips.
- Set a strict budget
Losing money in betting is a common phenomenon. Therefore be sure to use only a realistic amount when betting. This should be your first step before indulging in any betting. Betting is addictive and lots of money can be lost.
Types of markets
- Money line
You simply bet on the team that you forecast to win the match
This is placing a bet on the number of events a bookmaker has provided, either above or below the given number.
- Outright esports betting
Involves betting on the overall outcome of an event or a match
Esports games have come a long way. Decades ago, it was considered as a lazy person’s game. But thanks to the heavy investment in the game, it is becoming a source of income for many players. Esports betting is also picking pace. In the near future, betting will be available for people all over the world.