How Betting on Esports Games Works
The esports industry is relatively young, and many people don’t understand how it works and how to bet on the games. The industry is growing at an exponential rate, so you’ll discover new betting opportunities almost daily. The more you know about esports, the more opportunities for betting you’ll discover.
Some basic tips include trying to focus on the sports you know and getting to know the players. Set a gambling budget and stick to it.
Multiple Ways to Bet on Esports Matches
You can bet on esports in a variety of ways, and the most popular options include the following:
- Challenge betting
- Fantasy betting
- Social betting
- Skin Betting
- Real money betting
Challenge Betting
Challenge betting in esports is also called head-to-head betting. Gamers compete for real money, skins or other rewards. You can find websites where betting is more formalized with entry fees, teams and contests, and bettors win money from the fees paid. Betting real money is the most popular strategy for those who strive to earn regular profits with consistency.
Fantasy Betting
Fantasy esports betting works differently that other sports betting, and the betting is legal in many states that prohibit other forms of esports gambling. Fantasy esports is growing fast because people can bet without fighting the efforts of bookmakers to level the odds. You compete with other players by buying tickets for various matches. You can develop a betting strategy without worrying about interference from the platform that hosts the matches.
Social Betting
Social betting is relatively common as social groups place bets, which are usually informal and often involve betting common items, which can become as popular as beads during Mardi Gras. The wagers can include real money. Generally, the terms of the wager are negotiated between the betting parties.
This kind of betting works best with internet acquaintances rather than personal friends. Serious arguments and fallings-out can result from disgruntled parties. Betting with people whom you know often results in not receiving your winnings as agreed.
Skin Betting
Skin betting is tremendously popular in esports as a form of virtual currency and works similar to casino games. The term “skins” refers to the prizes players win that allow them to customize their characters by adding new skins. Many video games today feature virtual currencies, and esports offers plenty of examples of the value of skins. One popular skin was a Counter-Strike: Global Offensive developed a skin for a sniper rifle that recently sold for $61,000.
Skins are cosmetic, but rare skins become incredibly valuable in real-world currency. The CS:GO helped to build the skin economy by making it easy to trade and transfer skins. After buying or earning skins, players can keep them indefinitely in their steam libraries.
Real Money Betting
There are many betting sites where players can bet real money on the matches or fantasy picks. However, it’s important to choose the right betting platform, just like you would a neighborhood bookie. The betting platforms are growing exponentially, and that means many sites offer under-par service. Some sites are complete scams, so choose your site wisely.
Some of the best esports betting sites that you can trust include the following:
- BetOnline, a site which offers competitive odds for esports matches
- Bovada, a proven betting site with a strong track record
- BetNow, a site which offers competitive odds on the biggest esports matches
- MyBookie,a site known for its generous bonuses
- Intertops, a site that offers multiple banking options
Gamble on the Flip of a Coin
You can find a tremendous number of betting options, but it’s best to take things slowly as you develop a strong betting strategy. Players can use in-game items to get started, and even betting on the flip of a coin is an option.