Traditional gambling markets encompass a whole host of old markets, as well as some newer markets. For instance, land-based poker casino games would be considered a conventional market that dates back over 100 years. For some people, online roulette gaming is now considered a traditional market, even though it only rose to prominence less than 20 years ago. So while there is a level of subjectivity, there’s not much doubt that the current Counter-Strike: Global Offensive (CGSO) eSports market is a clear example of the latest innovation that has taken place in the gambling sector since the beginning of the decade.
Like any new market, it can capture new audiences and generate interest. Human curiosity strikes at all levels of business, especially in the gambling sector, which is popular with plenty of cultures and different walks of life. From a basic, primitive level, Counter-Strike: Global Offensive eSports gambling markets provide an avenue for those looking to combine their interests in CSGO and gambling.
How CSGO eSports Gambling Established Itself
While the internet has brought untold riches for companies wise enough to remodel their business designs, it has also been the catalyst for innovations. Physical bookmakers and casinos felt the impact of digital casinos and their rise. However, eSports casinos now use the latest ingenuity within the market to make up some of that ground on more traditional and established operators. Some of the new companies within the sector that offer gambling markets on professional video gaming use a whole host of ways to get people on board.
The latest way that eSports gambling markets have got ahead is by offering cryptocurrency as a payment method. While they weren’t the first industry to do it within the gambling sector, they have been able to branch out and innovate in ways other gambling markets haven’t been able to match. You can bet on a range of eSports tournaments, but first-person shooter games like Counter-Strike: Global Offensive (CSGO) seem to be most popular with eSports gamblers. You can bet on CSGO with Bitcoin at Thunderpick, where the markets range from betting on the winners of outright tournaments to individual games. But the ingenuity of using Bitcoin to place these bets is where the comparison between new and old markets really differs.
Out With The Old & In With The New?
Although incredible innovation occurs within eSports gambling, some elements are homage and inspiration from traditional gambling companies. As traditional casinos and sportsbooks used the internet to their advantage in the early 21st century, companies specializing in crypto gaming and professional video gaming are now chiseling out their portion of the global multi-billion dollar behemoth industry. Combining a new, popular, competitive market and mixing it with traditional betting structures and new payment methods is a highly effective way of launching a new gambling market while taking bits from the old one that works.
The possibilities of Bitcoin are vast. From corners of the internet, reserved for specialist cryptographers and early adopters, it is now a legal currency in El Salvador. It has many different companies willing to accept it as a payment method. Overall, the rhetoric is becoming increasingly positive for Bitcoin. Although the market is volatile, it’s hard to downplay how much blockchain technology could transform the financial sector.
How The Internet Transformed The Industry
The internet is the digital canvas that has resulted in the rise of cryptocurrency, eSports, and crypto gambling. This was a pivotal moment for many industries, but gambling entered new territory following the rise of the internet and smartphone technology. It’s probably better to frame this question as pre-internet and post-internet, as Bitcoin and eSports wouldn’t exist without it.
By embracing new technology as and when it has surfaced, all of these industries have experienced significant success. Counter-Strike: Global Offensive isn’t just an example of this in a gambling sense, but the console game has swept up several awards and has millions of people who play it worldwide… Given the incredible success of traditional casinos, it’d be impractical to throw out the old rulebook. However, taking inspiration from the past and using creative innovations is the blueprint for success in many businesses, and gambling is no different.
The strength of the underlying market is usually a solid economic signal that the industry is primed for more success. Modern-day gambling markets use the latest technological advances to design games, platforms, and algorithms that exclusively cater to the most significant current market, mobile gambling. Whether you play Counter-Strike online with your friends or gamble on CSGO eSports markets, it is fast becoming the dominant way to place your bets.
By continuing to look ahead at the latest developments and how they can embed them into their ideas, online gambling looks set to continue solidifying its market dominance for the rest of the 2020s. CSGO is looking to maintain a sizeable market share. Despite being more convenient, there’ll always be a market for traditional gambling, as they bring something to the table that online gambling can’t quite replicate.
However, eSports finds itself in a unique bracket of gambling that the internet has completely created. Whereas casinos and sportsbooks existed previously but were enhanced by the rise of digital platforms, eSports and crypto gambling are a pure product of the internet. So there are plenty of distinctive differences.