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Esports, or competitive video gaming, is a booming industry that has grown to become one of the most popular forms of entertainment. With the advancement of both hardware and software, it enables us to develop a strong infrastructure for Esports to grow bigger and better. Moreover, like any other entertainment industry, the bigger it expands the more opportunities there are for people to try their luck and make a living out of it. Some are becoming the player who competes in Esports, some are the backbone of it and be a part of the developer teams, and of course there are also some who benefit by wagering or placing a bet on it, much like the traditional sports events that we had since before the digital era.
What is Esports?
Esports is competitive professional video gaming. The first large-scale Esports event was the 1980 Space Invaders Championships. Since then, Esports has grown to become a global phenomenon, with events and tournaments taking place around the world for popular games like League of Legends (LoL), Dota 2, Counter-Strike: Global Offensive (CSGO), Overwatch, and Hearthstone.
By 2020, it is projected that Esports will have more viewers than the NBA Finals. Professional video gaming is already one of the most lucrative career options for people around the world, but this could be about to change even more. This is because companies are starting to take notice of the money that can be made in Esports betting. That’s right! It’s entirely possible to bet on professional video games like LoL, CSGO, Overwatch, and Dota 2.
Pick Trusted Esports Betting Platforms
Many established betting platforms have been slow to adapt their products to esports due to its newness, lack of customers, or other reasons, but there are several that stand out for this exact reason. The smartbettingguide.com team conducts extensive research to find and review trusted esports betting sites before recommending them to our readership. The site offers reviews on dozens of different platforms so it can be difficult to know which ones are worth your time and money! To help you out, we’ve compiled this list of some of the best esports gambling sites:
1) Betway Esports – Betway is known for its high-quality customer service and its ability to offer a number of different betting markets.
They have been open for business since 2006, so they have seen their fair share of market developments over the years. They’ve built a strong reputation in the industry and currently serve hundreds of thousands of customers from all around the world.
2) Arcanebet – ArcaneBet is another trusted esports betting site that has opened its doors since 2017.
They offer a great mobile site and even operate their own esports radio station!
3) GG.bet – GG is popular for its esports odds and fast payouts.
Some may even prefer to play on GG due to its low minimum betting requirements!
Their strategy is to offer small margins with highly relevant bonuses, which has worked well for them over the years.
4) EsportsBets.com – EsportsBets is an esports betting portal that has been around since 2017.
They allow players to bet on their favorite teams during major tournaments, which are broadcast worldwide thanks to the efforts of national tv channels and online streaming services like Twitch!
5) Unikrn – Unikrn is an esports gambling site that was founded in 2014. They are the only platform on the list that operates under a gaming license. They’re based out of Malta, which is known for its friendly business climate and strong transparency laws. They offer a wide variety of markets and feature competitive odds that players will be sure to appreciate.
Those are some Esports betting platforms that currently serve many players around the world. A comprehensive review of all of them can be found on smartbettingguide.com.
What is Esports Betting Markets?
Esports betting markets allow people to place wagers on the outcome of professional video game tournaments. You can bet on all kinds of aspects of these video games. For example, you may be able to bet on who is going to win a team match, or who is going to win an individual match. You can even bet on things like which team will kill the first blood in a game of Dota 2.
Many Esports betting sites also allow you to bet on more esoteric aspects of Esports matches too, such as scorestreaks or timings.
The Rapid Growth of The Esports Industry
Esports spectators watched a total of 292 million hours of Esports in 2011. At the start of 2017, they had already watched 2.4 billion hours and that number is expected to rise at an incredible rate over the next few years.
Esports is a rapidly growing market with investors, businesses, and spectators all looking to cash in. One reason for the growth is that the recessionary economy has led many people to look for affordable forms of entertainment. Esports are cheaper than professional sports events or concerts, which are all expensive because teams are carrying high overhead costs. The cheapest tickets to esports events can often be found for as low as ten dollars apiece, while the rest of the industry typically sees tickets priced around fifty dollars apiece. When you break down these numbers, it’s easy to see why esports has experienced explosive growth over the past decades.
The first wave of esports betting platforms started appearing about 5-8 years ago when people became interested in following along through bets instead of just watching the game. The gambling industry has exploded since then, most notably with mainstream fantasy sports providers like DraftKings and FanDuel entering the space in 2016, followed by mainstream casino operators like MGM Resorts International (NYSE: MGM) purchasing esports betting platform Unikrn what felt like overnight. Esports gambling has surpassed traditional forms of sports gambling in the U.S., totaling just under $9.5 billion dollars alone in 2018, and projected to be nearly $37 billion by 2025.
Esports Betting Regulation
A lot of people seem to think that Esports betting is unregulated, but this isn’t true. In fact, some countries have very stringent laws regarding how Esports can be bet on and where it can be performed legally. France has made all forms of Esports betting, including betting on physical sports legally. Russia has also successfully made it legal for people to bet on Esports in venues that are located within casinos.
Many other countries have laws in place that cover the regulation of Esports betting websites. These sites are allowed to accept bets if they are run from countries where gambling is legal, but they are not allowed to advertise their services from those countries. This means that Esports betting websites have a number of tricks up their sleeves, making it very hard for law enforcement to shut them all down.
Final Say
The esports gambling industry has exploded in the past few years, and it shows no signs of slowing down. It’s not uncommon for people to place bets on their favorite teams while they watch them play live or even participate themselves!
There are dozens of companies that have been trying to carve out a piece of this lucrative market for themselves, but the key is offering something different from your competitors. Sure, you can provide a great interface and faster withdrawals, but what sets you apart? this will be the key factor when it comes to earning and retaining loyal customers.
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