ESports betting is an emerging market that has quickly expanded over the years and gained great attention from traditional sportsbook companies.
Money line betting is one of the most common forms of eSports bets, offering an easy and straightforward method for predicting which team or player will win a match.
The Evolution of eSports Betting
Competitive video gaming (eSports) has quickly become a global phenomenon, drawing fans from nearly every corner of the planet. Unfortunately, however, eSports has also given rise to an unregulated gambling subculture where virtual game items known as skins can be used as bets on matches and tournaments. Unfortunately, not much is known about this form of betting other than its popularity in certain countries and posing potential risks for vulnerable consumers.
Social eSports betting is an informal form of bet between friends on the outcome of an eSports game or event, typically conducted through third-party websites and using real money or in-game items as stakes. Over recent years, this form of wagering has gained popularity and may only continue growing with more operators offering such offerings.
ESports betting has grown increasingly popular due to the ease of offering odds compared to traditional sports. This is partly because competitions for electronic sports are run by machines, producing and disseminating large volumes of real-time data which bookmakers use to price pre-game odds more accurately and adjust in-play odds as events unfold.
Finally, eSports bettors can utilize any currency of their choosing – even cryptocurrency like Bitcoin – when placing bets, making it easier than ever for players to place bets they can afford while enjoying the thrill of watching their bets come in.
The Changing Landscape of eSports Betting
Esports has experienced extraordinary growth over the past several years and it’s clear that this trend will only increase. As more people gain access to video games and gaming industry continues to expand, eSports interest increases further – prompting an increasing number of betting operators to focus on this market.
Esports differs from traditional sports in that teams or individuals compete against one another online through video game competitions, making eSports an exciting new chance for bettors looking for fresh challenges and markets to expand into. Global eSports competition has also opened up new markets and opportunities.
As the popularity of eSports betting increases, more regulatory bodies may look to set standards and regulations for this industry. This would provide greater transparency and consumer protection while simultaneously decreasing risks such as match-fixing or underage gambling.
At present, most eSports betting takes the form of “skin” bets; where players trade items for cash or prizes. Although its hard to know how many skin bets take place annually, its estimated that this market could be worth $10-15 billion each year – although Valve’s recent crackdown on CS:GO skin betting sites may have had an adverse effect.
The Impact of eSports Betting on Traditional Sports
Esports betting is a rapidly-expanding industry with the potential to transform traditional sports. Already popular across many countries and growing quickly – the COVID-19 pandemic has only helped speed this expansion as people look for more ways to gamble for fun.
As opposed to traditional sports, eSports games are virtual, meaning there are no external factors which may sway the outcome of bets placed online. No adverse weather conditions like rain or snow could potentially postpone events or hinder players’ performances; therefore making betting on these virtual matches more convenient and risk-free than betting on traditional ones.
Esports betting differs significantly from traditional sports bets in that you can place more targeted bets. Bettors in eSports can place bets on individual matches or tournament winners. This allows bettors to focus their energy and earnings potential on fewer events while maximising profit potential.
The global eSports betting market is projected to experience compound annual compound annual compound growth of more than 11% during its forecast period, driven largely by rising video game popularity among young people as well as mobile esports’ rapid expansion. This trend is anticipated to continue into future years.
The Growth of eSports Betting Markets
Esports betting has rapidly evolved into a significant portion of sportsbook revenues due to its surging viewership, engagement, and sponsorship revenues across the industry. A joint report by Nuvei and Paypal showed that 77% of esports companies (such as teams, tournament operators and talent agencies) reported betting was at least moderately significant to their business operations.
The global eSports Betting market is projected to reach USD 23760 Million by 2028 with an anticipated compound annual compounded annual compounded compound annual compound growth rate of 13.1% during its forecast period. The report offers detailed product type, application and geography segmentations while providing insight into key market players.
Betting markets don’t solely revolve around traditional betting markets for eSports enthusiasts; bets may also be placed on events like how many map wins or kills players will make in a match – this type of eSports marketplace betting can be lucrative if done by experienced punters who know their games inside-out.
ESports betting has grown increasingly popular due to relaxed regulations from game developers like Valve and Riot Games, who allow bookmakers to sponsor top teams and tournaments of their game titles – providing bookies with a level of competition and excitement not previously achievable with traditional sports betting.