Esports Betting: A Guide for Beginners
Esports betting is the activity of placing wagers on the outcomes of competitive video games, such as League of Legends, Dota 2, CS:GO, and more. Esports betting has grown rapidly in popularity and revenue in recent years, as more fans and bettors are attracted by the thrill and variety of esports events.
If you are new to esports betting or want to learn more about it, this guide is for you. We will cover everything you need to know about how to bet on esports, what are the legal aspects of esports gambling, and what is the current state of the esports betting market.
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How to Bet on Esports
Types of Esports Bets
There are many types of bets you can make on esports matches and tournaments. Some of the most common ones are:
Match winner: This is a simple bet on which team or player will win a single match.
Series winner: This is a bet on which team or player will win a best-of series (e.g., best-of-three or best-of-five).
Tournament winner: This is a bet on which team or player will win the entire tournament or event.
Handicap: This is a bet on whether a team or player will win a match or series with a certain advantage or disadvantage (e.g., +1.5 or -1.5 maps).
Over/under: This is a bet on whether the total number of points, kills, rounds, or other metrics in a match or series will be over or under a certain value.
Prop bets: These are bets on specific events or outcomes within a match or series (e.g., first blood, first to 10 kills, most kills, etc.).
Futures bets: These are bets on long-term outcomes or events that will happen in the future (e.g., who will win the next major, who will be the MVP, etc.).
Depending on the game and the bookmaker, you may find other types of bets as well. You should always check the terms and conditions of each bet before placing it.
How to Find the Best Esports Odds and Bookmakers
One of the most important aspects of esports betting is finding the best odds and bookmakers for your bets. Odds are the numerical values that represent the probability and payout of a bet. Bookmakers are the platforms or websites that offer and accept bets.
Different bookmakers may offer different odds for the same bet, so it is wise to compare and shop around for the best value. You can use online tools such as odds comparison sites, betting aggregators, or esports betting portals to find and compare the best odds and bookmakers for esports betting.
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Some of the factors you should consider when choosing a bookmaker are:
Reputation and reliability: You should only bet with licensed and regulated bookmakers that have a good reputation and track record in the industry. You can check online reviews, ratings, testimonials, and feedback from other bettors to assess the quality and trustworthiness of a bookmaker.
Esports coverage and variety: You should look for bookmakers that offer a wide range of esports games, events, markets, and bets. You want to have as many options and opportunities as possible when betting on esports.
Bonuses and promotions: You should take advantage of any bonuses and promotions that bookmakers offer to new and existing customers. These can include welcome bonuses, free bets, cashback, loyalty programs, and more. However, you should always read the terms and conditions carefully before claiming any bonus or promotion.
Customer service and support: You should choose bookmakers that have responsive and helpful customer service and support teams. You may need to contact them for any issues, questions, or disputes that may arise during your betting experience.
Payment methods and security: You should select bookmakers that accept your preferred payment methods and currencies. You should also ensure that they use secure and encrypted technology to protect your personal and financial information.
How to Place an Esports Bet
Once you have found the best odds and bookmaker for your esports bet, you can proceed to place it. The process may vary slightly depending on the bookmaker, but generally it involves the following steps:
Select your game and event: You can browse through the available esports games and events on the bookmaker's website or app. You can filter by game, date, tournament, league, etc.
Select your market and bet: You can choose from the different markets and bets offered by the bookmaker for each game and event. You can see the odds for each bet as well.
Select your stake: You can enter the amount of money you want to wager on your bet. The bookmaker will show you the potential payout or return if your bet wins.
Confirm your bet: You can review your bet details and confirm it. The bookmaker will deduct your stake from your account balance and place your bet.
You can track your bet progress and outcome on the bookmaker's website or app. If your bet wins, you will receive your payout according to the odds. If your bet loses, you will lose your stake.
Legal Aspects of Esports Betting
The Current State of Legalization in the US
The legal status of esports betting in the United States is complex and varies by state. Esports betting is not explicitly regulated by federal law, but it falls under the scope of existing gambling laws that regulate gambling activities. Therefore, each state has the authority to legalize, regulate, or prohibit esports betting within its borders. 4 According to the American Gaming Association, as of January 2022, 30 states and the District of Columbia have legalized single-game sports betting, including esports betting. 5 These states are Arizona, Colorado, Connecticut, Delaware, Illinois, Indiana, Iowa, Louisiana, Maryland, Michigan, Mississippi, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Virginia, Washington, West Virginia, and Wyoming. 6 However, not all of these states have launched or fully implemented their esports betting markets yet. Some of them are still in the process of developing rules and regulations, issuing licenses to operators, or testing their platforms. Moreover, some of these states have imposed certain restrictions or limitations on esports betting, such as requiring approval from regulators for each esports event or market, prohibiting betting on amateur or collegiate esports events, or setting a higher minimum age for esports bettors than for other sports bettors. 7 Therefore, if you want to bet on esports legally in the US, you should check the laws and regulations of your state before placing any bets. You should also only use licensed and regulated bookmakers that operate in your state and comply with the relevant laws and standards. The Benefits and Risks of Esports Gambling
Esports gambling can have both benefits and risks for the esports industry and its stakeholders. Some of the potential benefits are:
Increased revenue and growth: Esports gambling can generate more revenue and growth for the esports industry by attracting more fans and sponsors, creating more opportunities and incentives for players and teams, and expanding the esports ecosystem and infrastructure.
Enhanced fan engagement and entertainment: Esports gambling can enhance fan engagement and entertainment by adding more excitement and interest to esports events, creating more interaction and community among fans and bettors, and offering more content and information for fans to consume.
Improved integrity and professionalism: Esports gambling can improve integrity and professionalism in the esports industry by encouraging more transparency and accountability from players and teams, promoting fair play and ethical conduct among participants and stakeholders, and establishing more standards and regulations for the industry.
However, esports gambling can also pose some risks and challenges for the esports industry and its stakeholders. Some of the potential risks are:
Legal uncertainty and complexity: Esports gambling can face legal uncertainty and complexity due to the lack of clear and consistent laws and regulations across different jurisdictions. This can create confusion and inconsistency among operators and consumers, expose them to legal liabilities and penalties, and hinder the development and innovation of the industry.
Risk of fraud and match-fixing: Esports gambling can increase the risk of fraud and match-fixing in the esports industry by creating more incentives and opportunities for corruption and manipulation among players and teams, compromising the integrity and credibility of the industry.
Risk of addiction and harm: Esports gambling can increase the risk of addiction and harm among consumers, especially among young and vulnerable people, by exposing them to excessive and irresponsible gambling behavior, leading to financial, social, and psychological problems.
Therefore, esports gambling requires careful and responsible management and regulation from the esports industry and its stakeholders, as well as education and awareness from consumers, to ensure that it is conducted in a safe and ethical manner.
Esports Betting Market Overview
Global Esports Betting Market Size and Growth
The global esports betting market is one of the fastest-growing segments of the online gambling industry. According to a report by Grand View Research, the global esports betting market size was valued at USD 1.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 18.5% from 2021 to 2028. 8
The report attributes the growth of the market to several factors, such as:
The increasing popularity and viewership of esports: Esports has become a mainstream form of entertainment and sports, attracting millions of fans and viewers around the world. According to Statista, the global esports audience reached 495 million in 2020 and is projected to grow to 646 million by 2023. 9
The rising availability and accessibility of esports betting platforms: Esports betting platforms have become more available and accessible to consumers, thanks to the advancement of technology and the internet. Consumers can access a variety of esports betting options and features through online websites, mobile apps, or social media platforms.
The growing diversity and innovation of esports games and events: Esports games and events have become more diverse and innovative, offering more genres, formats, styles, and features to suit different preferences and tastes. Consumers can bet on a wide range of esports games and events, from popular titles such as League of Legends, Dota 2, CS:GO, Fortnite, PUBG, Overwatch, etc., to emerging ones such as Valorant, Apex Legends, Call of Duty: Warzone, etc.
The increasing involvement and investment of stakeholders: Esports betting has attracted more involvement and investment from various stakeholders in the esports industry, such as game developers, publishers, organizers, teams, players, sponsors, media, etc. These stakeholders have contributed to the development and promotion of esports betting by creating more content, opportunities, partnerships, and initiatives.
Regional Esports Betting Market Analysis
The global esports betting market can be segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to the report by Grand View Research, the regional breakdown of the market share in 2020 was as follows: 8 - North America: 38.2% - Europe: 27.4% - Asia Pacific: 23.9% - Latin America: 6.1% - Middle East and Africa: 4.4% The report also provides the growth forecasts for each region from 2021 to 2028. The regions with the highest expected CAGRs are Asia Pacific (21.1%), Latin America (20.1%), and Middle East and Africa (19.8%). The regions with the lowest expected CAGRs are North America (16.9%) and Europe (17.2%). The regional differences in the esports betting market can be attributed to various factors, such as: - The level of legalization and regulation of esports betting in each region - The popularity and availability of esports games and events in each region - The cultural and social attitudes and preferences of consumers in each region - The economic and technological development and infrastructure of each region Key Players in the Esports Betting Industry
The esports betting industry is composed of various players that offer and facilitate esports betting services and products to consumers. Some of the key players in the industry are:
Esports betting operators: These are the bookmakers that provide and accept esports bets on their platforms. They set the odds, markets, and features for esports betting, as well as handle the payments, payouts, and customer service. Some examples of esports betting operators are Betway, Unikrn, GG.Bet, Bet365, DraftKings, etc.
Esports game developers and publishers: These are the companies that create and distribute esports games to consumers. They are responsible for the design, development, maintenance, and updates of esports games, as well as the organization and support of esports events and tournaments. Some examples of esports game developers and publishers are Riot Games, Valve, Activision Blizzard, Epic Games, Tencent, etc.
Esports event organizers: These are the entities that host and run esports events and tournaments for consumers. They are responsible for the planning, production, broadcasting, and marketing of esports events and tournaments, as well as the management of teams, players, sponsors, media, etc. Some examples of esports event organizers are ESL, DreamHack, MLG, PGL, etc.
Esports teams and players: These are the participants that compete in esports events and tournaments for consumers. They are responsible for the training, performance, and representation of their teams and players in esports competitions, as well as the engagement and interaction with fans and bettors. Some examples of esports teams and players are Team Liquid, Fnatic, Ninjas in Pyjamas, Astralis, Faker, s1mple, etc.
Esports media and content providers: These are the sources that provide and distribute esports content and information to consumers. They are responsible for the creation, curation, and dissemination of esports news, analysis, statistics, predictions, tips, etc., as well as the engagement and education of esports fans and bettors. Some examples of esports media and content providers are Esports Insider, The Esports Observer, HLTV.org, Esports Charts, Esports Betting Tips, etc.
Conclusion
Esports betting is a booming and exciting industry that offers many opportunities and challenges for esports fans and bettors. Esports betting is the activity of placing wagers on the outcomes of competitive video games, such as League of Legends, Dota 2, CS:GO, and more. Esports betting has grown rapidly in popularity and revenue in recent years, as more fans and bettors are attracted by the thrill and variety of esports events.
To bet on esports successfully, you need to know how to bet on esports, what are the legal aspects of esports gambling, and what is the current state of the esports betting market. You also need to find the best odds and bookmakers for your bets, as well as use responsible and ethical gambling practices.
We hope that this guide has helped you understand and enjoy esports betting better. If you have any questions or feedback, please feel free to contact us. Happy betting!
FAQs
Here are some of the frequently asked questions about esports betting:
What is the difference between esports betting and sports betting?
Esports betting and sports betting are similar in many ways, but they also have some differences. Some of the main differences are:
The games and events: Esports betting involves betting on video games, while sports betting involves betting on physical sports. Esports games and events are more diverse and dynamic than sports games and events, as they can vary by genre, format, style, and features.
The odds and markets: Esports betting odds and markets are more volatile and unpredictable than sports betting odds and markets, as they can change rapidly depending on various factors such as game updates, patches, meta changes, roster changes, etc.
The data and information: Esports betting data and information are more scarce and unreliable than sports betting data and information, as they are often incomplete, inconsistent, or inaccurate. Esports bettors need to do more research and analysis to find and verify the relevant data and information for their bets.
Is esports betting legal?
Esports betting legality depends on the laws and regulations of each jurisdiction. Esports betting is not explicitly regulated by federal law in the US, but it falls under the scope of existing gambling laws that regulate gambling activities. Therefore, each state has the authority to legalize, regulate, or prohibit esports betting within its borders. As of January 2022, 30 states and the District of Columbia have legalized single-game sports betting, including esports betting. However, not all of these states have launched or fully implemented their esports betting markets yet. Some of them have imposed certain restrictions or limitations on esports betting as well. Therefore, if you want to bet on esports legally in the US, you should check the laws and regulations of your state before placing any bets.
How do I find the best odds and bookmakers for esports betting?
To find the best odds and bookmakers for esports betting, you should compare and shop around for the best value. You can use online tools such as odds comparison sites, betting aggregators, or esports betting portals to find and compare the best odds and bookmakers for esports betting. You should also consider various factors when choosing a bookmaker, such as reputation and reliability, esports coverage and variety, bonuses and promotions, customer service and support, payment methods and security, etc.
How do I place an esports bet?
To place an esports bet, you need to follow these steps:
Select your game and event: You can browse through the available esports games and events on the bookmaker's website or app. You can filter by game, date, tournament, league, etc.
Select your market and bet: You can choose from the different markets and bets offered by the bookmaker for each game and event. You can see the odds for each bet as well.
Select your stake: You can enter the amount of money you want to wager on your bet. The bookmaker will show you the potential payout or return if your bet wins.
Confirm your bet: You can review your bet details and confirm it. The bookmaker will deduct your stake from your account balance and place your bet.
What are some tips for esports betting?
Some of the tips for esports betting are:
Do your research: You should do your research and analysis before placing any bets. You should learn about the games, teams, players, events, markets, odds, etc., that you are betting on. You should also check the latest news, updates, patches, meta changes, roster changes, etc., that may affect your bets.
Bet responsibly: You should bet responsibly and within your means. You should set a budget and limit for your bets and stick to it. You should never chase your losses or bet more than you can afford to lose. You should also seek help if you have any signs of gambling addiction or problem gambling.
Bet smartly: You should bet smartly and strategically. You should look for value and opportunities in your bets. You should also diversify and manage your risk by spreading your bets across different games, events, markets, etc. You should also avoid emotional or biased bets that may cloud your judgment.
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