eSports (aka “competitive gaming) is a brand new type of entertainment where professional gamers play video games against one another on their consoles/computers, in front of online/live audience.
The multiplayer online battle arena and first-person shooter games seem to be everyone’s no.1 favorite and represent almost 75% of eSports tournament.
The eSports ecosystem (fans and sponsors including) includes multiple stakeholders, but it’s the publishers that stand out as the creators and owners of the video games that make the whole eSports ecosystem work.
eSports Betting in a nutshell
Right from the beginning of time, betting and gambling have been around the spectator sports, and the eSports is no exception. Total eSports wagers went to $7 billion globally in 2018, and it’s expected to double by 2020.
Even if the U.S. legislation has managed to keep sports betting at a distance, some new legislative rules allowed new possibilities for the eSports betting market.
For instance, the Professional and Amateur Sports Protection Act (PASPA) has been outlawing sports betting nationwide from the 90s. in 2017, the Supreme Court managed to strike it down so now the states may regulate sports betting on their own.
Four states have already legalized sports betting: Delaware, New Jersey, Mississippi, and Nevada. We’re expecting that other countries are going to follow in the future.
Let’s see the details on eSports betting!
There are two main categories for the eSports betting: the cash and the skin betting.
The “skins” are virtual items that gamers use within a video game for changing the appearance of the equipment, the weapon or the avatar. Players like to trade skins using the betting sites, turning them into virtual casino tokens later on.
Even if the skin betting has been the most common type of betting, the latest legal challenges put downward pressure on the skin betting market, making room for the cash betting.
Head-to-Head, Fantasy eSports and eSportsbook are the main types of games in which players like to place bets the most.
- Head-to-head- the players bet on the outcomes of the eSports matches when they play against one another
- Fantasy eSports-it’s similar to the traditional fantasy betting
- eSportsbook betting- resembles the conventional sports betting where players may bet cash on the outcome of the eSports matches. It’s the most popular type of betting and includes almost half of skin betting and more than 90% of cash betting.
What are the risks? Are there any challenges?
It goes without saying that legislation is one challenge to take into consideration. However, access to player performance data and match integrity add to the list of possible problems.
eSports bookmakers need better access to the more precise tournament and player data, but a good standard of collection across games is essential as well. It’s vital to create odds for gamblers and price risk too. Let’s not forget that a betting ecosystem has to be free from cheating, no matter if that means match-fixing, doping, online attacks that disable/slow down the competitors. Using software cheat codes is also cheating.
Some say that the eSports betting is going to be the cause of the downfall of eSports. In all fairness, this kind of betting did bring a significant change in sports betting. Gamers are afraid that the betting may even damage the competition with no turning back from that.
Many video games (Call of Duty, Dota 2, Counter-Strike, Heroes of the Storm, StarCraft II, League of Legends) still provide the best occasion for wagering. Take a look and see it for yourself at csgo betting sites. Esportsbettingexperts.co.uk. is a great place to try some betting in your free time. Besides, you’re going to find out the explanation for each game so that you can make an idea about each game. You don’t need to be a gamer yourself for placing your betting. Everything is visible and transparent, and you can choose which game to bet on.
What are the best parts of eSports betting?
Here are the most important benefits for this type of betting:
- more viewers
As they present excellent organizing, eSports competitions can include tens of thousands of spectators inside a sports arena and millions watching at home. When the event is also available for betting, the number of spectators gets even higher.
The main rule of betting is that if you wager on an event, the chances are that you’re going to want to watch it live. It’s common for one to bet on basketball or soccer and be interested in eSports betting as well.
Long story short, the completion is going to have many enthusiasts watching it, even if they know nothing about eSports. They may want to watch it live so that they can support their bet. When you’re a first-time follower, you may even find it a lot more interesting than expected, becoming addicted to it soon enough.
- Higher salaries and prize money
As there is a better sponsorship deal between the companies and competitions, an increase in wages and sum of prize money for individual players and teams should appear. It’s excellent news for the eSports participants that are going to be a lot more motivated when entering a competition.
The whole scenario is going to lead to improvement of the level of professionalism within the eSports bettings. Games are going to go to the next level of professionalism, like Counter-Strike or League of Legends are benefiting from at the moment.
In the case of new game competitions, it may be difficult to stay on top. With more money available, it makes sense that the teams employ/deploy the quality of players, coaches or any other staff involved in the game.
- Better sponsorship deals
Sponsors are searching for both security and popularity. When the eSports is regulated, it’s going to be a lot more interesting for a respected sponsor to put its money where the mouth is. Once he knows that the deal is safe and secure, the sponsor is going to have more freedom to include even more money.
A higher number of viewers means that the eSports event is going to bring a broader audience as well. The sponsor is going to get a better chance to reach to more possible customers. And there’s nothing that a sponsor values more than active promotion.