eSports is short for electronic sports and is used to describe the expanding global phenomenon of competitive computer gaming. It refers essentially to organized video gaming events or tournaments that culminate in championships at regional and international level.
Both professional and amateur players compete against one another in these highly charged events for titles and prize money. Many leading brands such as Nvidia Corporation, Red Bull, BMW AG, The Coca-Cola Company and US Air Force have established sponsorship deals with eSports leagues and teams.
Expert studies estimate global eSports betting market revenue will reach billions of US dollars in 2024. Gitnux estimates the eSports betting market in the US alone - the second largest market after Asia-Pacific - was about $1.5 billion in 2023 after eSports betting sites saw an estimated 100% increase in user sign-ups in 2020.
At a conservative end, Market Growth Reports estimates global eSports betting market size will reach $671.78 million this year and is expected to expand at a compounded annual growth rate of 26.1% during the 2024-2031 period - reaching $2.7 billion by 2031, according to its Global eSports Betting Market Report 2024.
Betting on eSports events refers to betting on the potential outcomes of tournaments where individual players and teams are fighting out for championships and big prizes. Betting is done just the way it is done in regular sports betting: you need an account with a sports betting platform that offers eSports betting, and funds in your account with which to bet.
Common eSports Betting Odds
Understanding betting odds is crucial for making informed bets. Betting odds represent the likelihood of a particular outcome occurring and help determine the potential return on a bet. In eSports, bettors encounter various types of odds based on different game outcomes. These odds can vary from game to game, so it'simportant to understand them to make accurate bets.
Below, we detail some common types of eSports odds and explain how they work.
Match Winner
Match Winner is a betting option that requires you to predict which eSports team will win the match. For instance, if Team Falcons is playing a Dota 2 match with Team Spirit, the Match Winner market requires you to predict which one will win the event. If you choose Team Spirit and they win the match, you win the bet.
Outright Winner
Outright Winner is an eSports market where you have to predict the winner of a specific eSports tournament. That can be a tournament such as the 2024 Esports World Cup or the ESL Pro League Season 20. For instance, you can pick Team Spirit to win the Counter-Strike 2. Your stake will be multiplied by the odds and the profits deposited in your account if they win.
Map Winner
Map Winner is a standard bet type, especially when gambling on League of Legends, Dota 2 and CS: GO events. In video games, a map (also referred to as a level, mission, stage, course) is any space available to the player during the course of completion of an objective. This betting option requires predicting which team will win a specified map. For example, in a CS: GO match between MongolZ and Virtus.pro, you can choose MongolZ to win Map 1. If they beat Virtus.pro in map 1, you win the bet.
Total Maps played
Total Maps played is a popular alternative to Match Winner bets. The market requires you to bet on the number of maps to be played in a specific match. In most cases, the Total Maps bet type occurs as Over/Under a number. For instance, if Entity is playing Team Liquid, you can predict whether the Total Maps played will be over 3.5. You will only win if the Total number of Maps Played is more than four.
First Blood/Kill
First Blood/Kill is among the most popular eSports bets you can place. This involves predicting which team will either draw the first blood or make the initial kill. In the Dota 2 match between Xtreme Gaming and Gaimin Gladiators, you can pick Gaimin Gladiators to make the first kill or draw the first blood. If they do, you win the bet.
Total Kills
Total Kills is a betting option that requires you to predict the number of kills made in a particular match. Similar to Total Maps played, Total Kills is quoted in the Over/Under format. Hence, you can pick Total Kills Over 2.5 in a CS: GO match between FURIA Esports and Imperial Sportsbet. If the Total Kills exceeds two, you win the event.
Pre-match and Live Betting on eSports
You can make both pre-match bets as well as bets during events after they begin - in live betting known also as “in-play betting.” In pre-match betting you place your bet before the game starts based on your study of past performance of a team. You win if the match outcome coincides with your prediction made before the game started.
Opportunities to win for a knowledgeable gambler are more plentiful in live betting when it is possible to make real-time adjustments to your odds as a game is being played out. This makes it possible to change your bets by taking into account the actual performance of a team or athlete during the game.
Besides letting you update your bets as the new performance information becomes available during the game, live betting makes it possible to lock in a profit by lay betting at the same time as you make a bet for an outcome.
In lay betting you become the bookmaker by betting that an outcome will not happen. When you make a bet with a bookmaker on odds he is offering for an event, you are backing your belief that the outcome will happen and you win the stake in case the outcome takes place.
If you look at that bet from the bookmaker's perspective, the bookmaker wins if the event does not happen: the bookmaker backs his belief that the event will not occur. The bookmaker lays bets on that same event outcome; he bets that the outcome will not happen. For instance, considering the example mentioned above for Total Maps played odds, you may lay a bet that in a Team Liquid match against Entity, the Total Maps played will be over 3.5. You will only win if the total number of maps played is less than or equal to three.
As a game is being played out and the odds for your bet is being updated in real time, you may be able to lay a bet on that same outcome at such odds that will guarantee a profit for you - if you are able to lay the outcome at a lower price than you had backed it.
Step-By-Step Guide on Placing eSports Bets
Choose an eSports Betting Site
The first step is choosing a reliable eSports betting site. The sportsbook platform for placing eSports bets should cover all, if not most, eSports tournaments and have competitive odds. It should offer the full range of eSports odds described above. Best eSports betting sites also offer exciting in-play betting features such as live streaming and cash-out.
Open a Betting Account
You need to create an eSports betting account to be able to access eSports content and start betting. Complete the registration form with the sports betting platform you have chosen. After creating an account, the operator will email you the link to access your sportsbook account.
Choose a Payment Method and Make a Deposit
After opening your betting account, pick the payment method that you want. Most sportsbook platforms offer standard payment options such as: VISA; Neteller; PayPal; MasterCard; Skrill. Using either of the payment methods, deposit some funds in your account while observing the minimum deposit requirement.
You are now ready to make your eSports bet. Make sure you have the best information about the event you want to bet on and place a bet depending on your findings. Remember - knowledge is power.
In Conclusion
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