Understanding The In And Outs Of Esports Betting
Esports betting is a huge thing in this day and age. It’s a relatively new form of betting that started off slow but has gained huge traction over the last few years. Its growth has been so tremendous that it is estimated to be worth around $30 billion by 2020. This is a large number, particularly when you consider that esports, to some extent are still under the radar. The fanbase of these kinds of sports is massive but nowhere close to as big as the fanbases of conventional sports like football, soccer and basketball. Most people do not have a clue what esports are all about and you could say the same about betting on them.
So, what are esports and how does betting on them work? We are going to take a look at the ins and outs of this topic in this comprehensive read.
All About eSports
Esports, the short form for electronic sports simply refers to competitive video gaming. That is basically individuals playing video games against each other. This is, of course, nothing new, as people have been doing it since the first computers and consoles were released.
Initially, the only way to compete against each other in video games was to sit in front of the same gaming device. Nowadays, however, people can play against each other via the internet. According to reports, over a billion individuals take part in video gaming. This is a huge number just shows how famous video gaming has become.
Casual gamers usually play games just for fun. Some play in organized contents or in online tournaments and even though these informal or casual contents are still considered as eSports, the term is usually used to refer to the professional aspect.
Yes, there is a professional scene in video gaming. Casual gaming can be quite competitive, but it is nowhere close to professional eSports. Some contents see players and teams competing for millions in prize money. The tournaments do not just attract live audiences but are ideally watched by millions worldwide through streaming services like Twitch, YouTube and other platforms.
Now that we have learned about eSports, you might be wondering what the fuss about eSports betting is all about. Before you jump into betting on eSports, it is crucial that you have a proper comprehension of some of the games that are played. You will not be able to turn a profit or make good betting decisions if you do not. You do not need to be an expert, but it is important to understand how the games are played as well as the strategies involved.
>Now, there are dozens of various eSports game, but most contests involve a few popular titles. Some of the most featured include Call of Duty, Battlefield, FIFA, CounterStrike, Halo, Overwatch, PUBG, Starcraft II and League of Legends.
Keep in mind that you do not need to learn about all these games, but you certainly want to learn about any that you wish to bet on. It’s ideally essential that you comprehend the format and structure of any contests that you wish to bet on. This, again, helps with making proper betting decisions. There are numerous leagues and tournaments all over the world, but it is usually best to start with the most popular ones. Major eSports leagues and tournaments include Call of Duty Championship, CSGO, eGames, Major League Gaming, World Electronic Sports Games among others.
Another important thing is to learn about the players or teams taking part in the contests. We would like to believe that you would not bet on a game between teams that you do not know about.
Esports Betting For The Novice
There are various ways to bet on eSports and we are going to cover several in this section.
- Real Money Betting
This type of betting is the closest to conventional sports betting which works mostly the same as betting on golf tournaments and football games. Here, you place real money wagers at particular odds and get paid of the selections are right. You can bet on all sorts of outcomes such as the winners of certain matches.
- Skin Betting
Skin betting is ideally known as item betting and it’s a popular form of betting in the eSports community. Numerous video game titles have virtual currencies and objects that can be transferred between people and this property is highly sought after by committed video game players. Due to the demand, there are numerous trade and auction websites where you can sell, buy and even swap currencies and items for some of the most popular games.
There are ideally other online sites where you can use currencies and items to gamble with. You can use them to bet on eSports contests outcome or other forms of gambling. There are even websites where these items can be utilized to play chance games like roulette.
- Social Betting
This is another common form of eSports betting where people place informal wagers on the outcome of activities between themselves. The wagers can be for real money but are often for items like skins. The terms are agreed and settled accordingly between the two parties.
This form of betting is not highly recommended as betting with real-world friends can lead to falling out and petty arguments. Also, betting with people you just know online is risky as there is no guarantee that you will get your winnings.
- Fantasy Betting
Technically, this one isn’t really betting as it is similar to fantasy sports for conventional sports.
All these types of betting are worth exploring, but some are more suitable than others. For most individuals, real money eSports presents the best chance of making daily and consistent profits.
As with any other form of betting, you need to be disciplined, patient, know how to manage your bankroll, understand the odds and have a habit of conducting extensive research. You should also keep records of your activities and performance. These will help you make decent money through eSports gambling.
Value betting on Esports with Trademate Sports
One of the statistically proven ways to make money from sports betting, is value betting, and these exact same principles apply to esports too.
Most gamblers or punters bet on a game based on their opinion, whereas value betting is based strictly on mathematics and statistics.
For example, imagine a coin flip. The chances of it hitting head or tails is 50/50. So if you had a $10 bet with your friend, and you wanted it to hit tails and he/she wanted it to hit heads, the prize should be even, with both people winning or losing $10.
But, what if you were able to get this scenario: If it lands on heads, you lose $10 to your friend. If it lands on tails, you get $15 from your friend. This is a value bet because the odds or the outcome do not match the underlying probability.
Trademate Sports uses this basic principle in esports betting. If CeX is playing Reason Gaming and the odds are at 2.00 for CeX to win, but really they should be at 1.80 in odds, then you have found a value bet.
By placing these value bets over and over, the value taken from the bookmaker gets bigger and bigger, and so does your expected profits.
If you’re still struggling to understand the concept of value betting, check out this article.
Trademate Sports supports both CS:GO and Dota 2, so head over to our site and have a free week trial on us!
Matched Betting on Esports with Oddshero
Another proven way of making money from sports betting is Matched Betting!
If done correctly, Matched Betting is a completely risk-free way of making money, watch the video below to see how it works.
In an esports example, if CeX is playing Reason Gaming and the odds are as follows:
CeX to win @2.05 & Reason Gaming to win @2.00.
By putting $100 on CeX and $102.50 on Reason Gaming, no matter who wins you are going to make a profit of $2.50.
Repeat this a couple of times and you can turnover the free welcoming bonus the bookmaker gave you into real money which can be withdrawn.
If this still sounds a little bit confusing to you, luckily the Oddshero Matched Betting software finds these bets and tells you exactly how much money to put on each side of the game for you!
Start your Matched Betting journey with Oddshero for free today, by clicking right here!