Reports estimate that over half a billion people will follow how popular eSports betting is by the end of 2022, with the industry generating a projected $2 billion in revenue.
It’s not alone on the success train; eSports betting also taps into this popularity, with this gaming site growing exponentially to become a staple among gamblers.
This feat is all the more impressive because it attained fame during a global pandemic, a period when traditional sports struggled, recording some of their lowest numbers.
However, is the hype real and legitimate? Are people really into competitive video gaming, as the numbers suggest? Let’s find out!
What Is eSports Betting?
Quick answer: eSports is short for electronic sports – eSports betting is making bets on competitive gaming.
eSports wagering works similar to traditional sports betting. Bettors place bets on games, and like conventional sports, these matchups are often a part of tournaments. Afterward, the matches take place, with the results determining your winnings.
Skins (in-game items) act as virtual currency, with players using them to wager on professional gaming events.
It’s common to confuse eSports betting with fantasy betting. These two wagering systems are pretty different, with the former featuring actual gamers playing on a competitive level against other teams.
Some popular titles that eSports players compete in include Counter-Strike: Global Offensive, League Of Legends, DOTA 2, Rocket League, and more PC-based games.
The most popular types of eSports bets are:
- Real-money wagers on gambling sites with eSports bookmakers setting odds based on event probability.
- Skin gambling and loot boxes usually take place within the eSports games themselves.
Skin betting refers to virtual in-game items known as skins, which players accumulate while gaming. They often have different rarity ratings, with these figures determining their value on the online market and skin betting sites.
Available markets are similar to traditional sports bets, but not all work the same way. The most popular eSports wagers are:
- eSports match winners
- eSports tournament winners
- Final match scores
- Odd/Evens, including the number of wins, rounds played, eSports players eliminated, and more
- Over/Under bets, where eSports bettors wager on teams scoring below or above the points set by the eSports betting site
eSports typically have two categories:
- Traditional sports simulation: Here, eSports simulate real-life sports like football, basketball, and more. Popular games include FIFA, NBA, and other series.
- Classic eSports games: This category involves playing popular games like Counter-Strike: Global Offensive, League Of Legends, DOTA 2, and more.
How Popular Is the eSports Betting Market?
By 2022, the eSports betting industry is expected to surpass $13 billion globally.
This forecast is based on the fact that video gaming ranks among the favorite free-time activities worldwide.
The number of eSports fans is continuously rising, with eSports betting also piggybacking off this increasing popularity. This growth also extends to the prize money and the number of competing eSports teams. Currently, their values have never been higher.
Australia and the US are eSports bettors’ strongholds, with around 15% of gamblers in the two countries wagering on eSports.
India closely follows the two leading countries at 14%, Canada and Germany at 6%, and the UK’s 3% rounds up the top five countries.
Online betting services report that eSports titles are on the rise globally, leading them to offer more betting options in this category, including new games, in-play bet options, and more eSports match coverage.
The business model for eSports betting sites is similar to traditional gambling. UKGC (United Kingdom Gambling Commission) and similar legal bodies regulate their activities, ensuring operators don’t take advantage of players.
Who Bets on eSports?
The rise of the eSports industry marked a demographic shift in sports betting, with more young people joining the wagering scene. Since video gaming is more popular among the younger crowds, this new group’s influx was inevitable.
According to various surveys, eSports bettors are predominantly male, even more so than traditional sports betting. They’re also younger on average than conventional sports bettors, as about a third of eSports fans are aged 25 to 34.
Why Do People Bet on eSports Over Traditional Sports Betting?
When you consider betting at online bookmakers or skin gambling, you still find that eSports betting has opened a new world of wagering for younger audiences. This group has different preferences and perceptions regarding sports and competitive gaming ticks these boxes.
Besides the fact that eSports betting is more appealing to some users, especially the young demographic, because they prefer gaming to traditional sports, the reality is that physical effects don’t affect eSports matches.
Also, the fact that physical effects have less impact on eSports matches is a plus in many players’ books, especially the younger ones. In contrast, traditional sporting events can fall prey to this factor, with external elements often derailing proceedings.
For example, eSports players are far less prone to injuries, to the point where they have zero impact on the game’s outcome. That way, predicting the results of eSports tournaments and plays is more manageable.
How to Bet on eSports
Creating an account on eSports betting sites is as simple as it gets. It’s the same as joining any sports betting platform out there. What varies is the game catalog and jackpot titles. Let’s take it a step at a time, using SportsBetting.ag as an example.
1. Register at SportsBetting.ag
- Head over to the official site of Sports Betting, and click on the “Join Now” icon in the page’s mid-left section.
- Enter the required data, including your email, full name, date of birth, ZIP code, and phone number. Also, create a strong password.
- Hit the “Create Account” button to complete registration.
2. Email Verification
- Go to the email account you submitted during the registration phase.
- Open the welcome message from the sports betting platform and click the accompanying link to confirm registration. Check Spam if needed.
- If the link doesn’t automatically redirect you, manually visit the betting site and login.
3. Fund Your Account
- In your account’s Deposit section, select your preferred payment option from the list of available banking methods.
- Enter your preferred bet amount.
- Redeem the SB1000 bonus code or the 100CRYPTO promo code to opt-in for your welcome bonus.
- Start betting on eSports games and enjoy the events.
Top 3 eSports Betting Sites
If you’re looking to join the eSports betting market, you must find the best eSports bookmakers to maximize your odds of winning. Below are the top three best eSports gambling sites.
SportsBetting.ag: Overall Best eSports Betting Site
- $1,000 welcome bonus
- Parlay Power Up eSports boost
- Unique bets on League of Legends
- Over a dozen eSports betting markets
- 10+ betting promotions
SportsBetting.ag is the No. 1 eSports betting site in the world. This website features over a dozen eSports game markets to bet on, combined with 10+ promotions and an outstanding 15+ banking options.
SportsBetting.ag sweetens the deal for eSports fans by including the Parlay Power Up promo, helping boost your winnings by up to 60%.
New members receive a warm reception, with SportsBetting.ag granting up to $1,000 in welcome funds.
Bovada: Best for Bitcoin eSports Gambling
- About a dozen games available
- 75% bonus for BTC eSports bettors
- Fast payouts
- Top-tier range of Counter-Strike: Global Offensive spreads
- Prop builder available
Bovada is recommendable if you’re a crypto user looking to bet on eSports matches and games.
This platform boasts a 75% BTC esports bonus up to $750, 1-hour cash-outs, a dedicated prop builder, and the best range of Counter-Strike: Global Offensive spreads we’ve seen.
You can bet on over ten games, including CS: GO, League Of Legends, and DOTA 2 events.
Bovada’s operations aren’t limited to eSports betting; it also features a dedicated casino section where players can try out multiple jackpot games, slots, table titles, and more.
BetOnline: Top eSports Betting Markets for Variety
- 15+ eSports game markets
- $1,000 welcome promo
- Live streaming available for eSports events
- 20+ payment options
- Odds booster
If you want the widest variety of eSports markets, check out BetOnline. This platform stands out as a top-level destination for fans of in-play eSports betting, meaning you can bet on games while they’re in progress.
You get access to over 20 payment options and a $1,000 welcome promo, playable on eSports tournaments and games.
Other popular eSports gambling sites to check out:
- 888 Sport
The Future of the eSports Betting Industry
Experts describe the eSports betting industry’s future as unstoppable, on the rise, and even meteoric.
As the world increasingly glides towards the virtual sphere, this gambling form is expected to challenge betting as we know it.
We don’t hand out betting advice or strategies, but if you wish to join the classic eSports betting world and not the skin betting sites, we recommend giving SportsBetting.ag a go.
That said, always enjoy responsible gambling and bet on familiar events instead of uncharted territories. If needed, consult free articles on gambling addiction online. Play it safe and enjoy the game!