Esports betting vs sports betting: A comparative study

Esports is creating a rage in the betting industry. Initially, people did not have much clue about the esports betting industry. But now it has garnered a huge fan following over the past few years. The industry has witnessed tremendous growth, and it is predicted that the global esports betting industry will be valued at $30 billion by the end of 2020. The esports fan base is vast and popular, but it is yet to match its popularity with the fan bases of other sports like football and tennis. Unfortunately, people outside the fanbase have little awareness about the potential of the Esports industry. Furthermore, they also have little awareness of the world of esports betting. 

Esports, in simpler terms, refer to electronic sports. It is also known as competitive video gaming. In other words, it means people competing against each other by playing video games. This is not something new as people have been playing video games with the advent of home computers and gaming consoles. Initially, there was only one way of playing video games but today a player can play video games at any point in the day thanks to the rise of mobile gaming. 

According to a study, there are more than a billion people participating in playing video games. Additionally, there has also been a rise in solo gaming even though people still prefer playing video games against one another.

The format

In conventional sports betting, the players do not have any categories as such. There are no fixed names or roles given to the players. But it’s different in esports betting. The gamers are termed as casual gamers. This kind of gamers plays video games for fun and entertainment. They do participate in contests and tournaments but they do it for fun only. Even though casual sporting competitions and events can be called esports, it is usually reserved for the professional gaming scene. The professional gaming scene is very popular and competitive. There are players fighting for the million-dollar cash prize. The professional esports contests are played in front of a live audience. They are played live on Youtube and Twitch with millions of people watching them play. Major broadcasting sports channels like ESPN also cover live gaming events. The esports industry contributes a major chunk of the online sports betting industry. 

Different types of betting strategies

Unlike sports betting, which requires a unique combination of luck and strategy, esports depends a lot on the skills and strategic mind of the players. To win any competitive esports gaming tournament, the player needs to come with a well-rounded betting strategy. There are several ways of placing bets on esports. 

Real money betting is very similar to traditional online betting and it works similarly to that of football betting or betting on any boxing matches or golf tournaments. The players bet on odds and are only paid money if the outcomes have been predicted correctly. They can place bets on all kinds of outcomes including the winners of single matches, gaming tournaments and championships.

Skin betting is also known as item betting. It is a very popular betting strategy among esports fans. Modern video games are equipped with virtual currencies that can be easily transferred from one player to the other. Which is why there are several online auction sites where players can exchange, sell or buy currencies for video games. Players engage with betting sites which allows them to gamble with virtual currencies and items. They use them to place outcomes on the Esports matches and tournaments which in turn, they can use it for other gambling activities. They can use virtual currencies and items for table games like Roulette, Poker or something as simple as a coin flip. 

Social betting is very popular where players place bets on esports matches between a close-knit community of gamers. They can bet for real cash or skins and other items. The terms and conditions are discussed between the two parties that eventually results in mutual agreement between two parties. However, it is not highly recommended by experts as betting with online risks can lead to fights and petty disagreements. There is also no guarantee that players will get their winnings. 

Fantasy betting does not require much explanation. Fantasy betting simply refers to betting on a fantasy sports team be it cricket, football or any other sport.

Challenge betting is when the players compete against each for money and items. The players agree upon the wagers and get it settled right after the matches get over. There are websites dedicated to helping players organise the event as they allow players to freely enter a contest. Seasoned gamers should try out this betting. For some, they see it as a huge opportunity to make money. 

The person needs to keep a few betting tricks and techniques up his sleeves. He needs to understand the odds and payouts and do effective research about the betting strategies and money. He needs to save some money for betting from his bankroll. To understand his strengths and weaknesses, he needs to do a self-analysis of his performance for improvement and better results.

Availability of online sites

There are multiple, highly-rated online casinos for sports betting because it has been dominating the betting scene for a long time. But esports is a new trend. Searching for a good website for playing esports is very difficult as there are few good and genuine sites for esports. But there are some sites that have been recommended by gaming enthusiasts themselves based on quality, authenticity, security and features. A player needs to do thorough research about the gaming sites before playing for money. 

The players should look for the ones that have been ranked as the best sites by magazines and other gaming review sites. Other than this, the players should look for sites that are visually engaging with captivating graphics and a storyline. They should also have a user-friendly interface and smooth gameplay. The sites should provide a variety of video games catered to the player’s interest. The gamers should have the freedom to choose a game of their liking. When it comes to making deposits, the players need to choose a site which is licensed and has encrypted software to protect their financial data and user details. The player should also be able to withdraw money at their convenience. It’s good for a beginner to choose a site that allows free games as he may not lose his money for playing.