Esports has recently exploded in popularity as millions became interested in watching major tournaments. As with most sports, esports betting also followed this growing interest. The sport started in 1972, gaining popularity in 1980 when the first competition with 10000 participants was held.
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Currently, the esports betting industry is worth billions, and it’s expected to continue growing over the years. Though the fanbase has increased, it’s still a fraction of traditional games. Most people outside this group have yet to learn what esports is about. This article will take a deep dive into the world of the esports betting market for the new fanbase.
What is Esports Betting?
Esports is short for electronic sports and describes competitive video gaming. It refers to playing video games in competitions. Like other games, playing video games is competitive, even when playing for fun. However, esports takes the competition a notch higher than just a friendly game among friends.
Since esports is similar to traditional sports, as professionals compete in these events, fans can bet on their favorite players or teams. Additionally, esports games have a huge following, thereby attracting large audiences. Notably, interest in esports betting is growing, and they are catching up with traditional sports.
Is Esports Betting Legal in the Philippines?
Bettors over the age of 18 in the Philippines can bet on esports. The country has a huge esports fanbase. The games and esports betting sites are easily accessible, and players can watch daily competitions. These games have a wide range of games that offers variety.
Additionally, since esports betting is legal, they have a separate internal entity founded in 2012 that regulates esports. It is referred to as PEsO or Philippine Esports Organisation.
The organization creates several policies governing esports betting in the Philippines. It has also become flexible over the years and allowed esports teams to be created and compete in major tournaments in the country.
Esports Betting vs. Traditional Sports Betting
Though esports and traditional sports betting rely on staking money on the best teams or professionals to win, they have varying differences. First, they differ in the types of bets players place. Traditional sports have bet types like straight bets, handicaps, or money-line bets. This format doesn’t change whether betting in European or US sports.
Esports betting, however, has a variety of options but narrow than esports events. One can bet on all the standard bets and some specific wagers depending on the video game one is betting on. It can be in line with the character’s actions and objectives.
Like with a traditional sport, e-sport bettors can also wager on different competitions. However, they differ in league and tournament format. Esports betting combines these two elements, but a match decides them.
Additionally, factors such as player fatigue and injury do not matter when betting on an esports match. Finally, sports and esports betting are different in that one happens in reality and the other digitally: thus eliminating external factors.
Types of e-Sport Games You Can Bet On
Almost all video games can be potentially played as an e-sport. However, few of those have captured the professional players and fanbase. These games are ideal for competing and are dominant in the professional scene. Avid gamers can bet on the following esports.
Multiplayer Battle Arena Games Betting
These games, also known as MOBA, are often based on strategy but can involve action. They are played by a team, and each team comprises virtual characters. Professional players control each character working with teammates to meet a specified objective in the game. It can be to destroy the opposing team base or kill them.
Such esports games include Dota 2, League of Legends, and others popular with esports betting fans. Players can take time to get used to characters and gameplay, but they can win big on bets.
First-Person Shooters Betting
In these games, the player controls a character to use weapons and engage in combat with the opponents. The character also has a specific objective or goal to meet. These games have also been around for several decades; however, modern games have better graphics.
Additionally, the games have explosive action a player can bet on. One such game is Counter-Strike: Global Offensive. Other successful games in this category games include Call of Duty and Halo. These games also have team-based gameplay allowing for multiplayer first-person shooters.
Sport Simulators Betting
Sports fans like placing bets on players and teams in captivating sports simulator games. Betting on esports like FIFA is particularly easy for players with experience betting on football bets. Notably, most betting sites have made betting on events such as the FIFA e-world cup popular.
These games are stimulated by CPUs using artificial intelligence. Betting on such games is the same as traditional sports, but players need to use secure, quality, and licensed operators. One of the notable licensing organizations is the Malta gaming authority.
Other popular sports simulators include NBA 2K betting and Rocket League betting.
Mobile Esports Games Betting
Like casino games, there are now available opportunities for fans to bet on esports. It allows players to stay engaged on the go through convenient betting apps. These apps provide all betting features where players can monitor their bets.
Esports betting apps have a well-developed platform for Dota 2 betting and CS: GO betting, among others. Players can access various esports tournaments, and they also allow pre-match betting. Fans can download the apps on Android or iOS devices.
Types of Currencies You Can Use in Esports Betting
Players can bet on esports in various ways. The most popular include real money betting, skin betting, fantasy, challenge, social and skin betting. Each type has merits and demerits depending on the bettor’s goals. One must understand how all these forms work to select a suitable one.
Cash Bets
Cash bets also refer to real money bets, which are pretty straightforward. When using real money esports betting, gamblers use reliable bookmarker services. They can do so via sportsbooks, bookmarking sites, or an online betting site. Bookmarkers’ functions are pricing betting markets, collecting money when bettors bet, and paying out the money after a win.
Pricing up betting markets refers to setting the esports odds for the various sections. Bettors should choose esports betting sites that have live betting features. Such include cash-out and live streaming to give fans an easy time to place bets.
Skin Bets
One can also place skin or item betting apart from real money betting. Skin betting is popular among esports fans. Most modern video games have transferrable virtual currencies between players. These currencies are often highly sort after by avid gamers and can be found in auctions or trade websites. On these sites, players can sell, swap or buy these items for various video games.
Moreover, there are sites where players can use these currencies and items for gambling. They can wager with them on the outcome of the esport. These items can also be used for other forms of online gambling, such as roulette or coin flipping. Players can also use their skins into a pot through some betting websites where they choose a random pot winner.
Skins betting on esports is mostly popular on Dota 2 and Counter-Strike: Global Offensive. However, in skins, betting is sometimes outrightly illegal or in the gray area. Players can restrict their usage to a skins betting site.
Types of Bets You Can Place in Esports Betting
There is more than one way to bet on esports. They can be outright esports bets or depending on various events’ outcomes. These bets also range from complex to simple ones. These options may also depend on the esports betting market on multiple sites.
Main Betting Markets
Before betting on esports, one should also understand betting markets. Bet types or bet markets refer to specific outcomes of events. A bettor can access the sports betting markets online through sportsbooks or physical shops.
There are multiple bet markets available to fans. These esports betting guides depend on the sportsbook or the chosen sport. However, it is advisable to research all choices and choose a betting market with a chance of happening within the given timeline.
Special Types of Esports Bets
There are various special esports bets on which one can wager. First, players can place multiple bets on their favorite games, such as Dota 2, during The international tournament. Outright bets are the most common and available on all esports sites.
However, another option that bettors can wager on entails odd/even bets. One can make these bets anytime after reviewing esports odds in top competitions. Gamblers can also bet on whether there will be an odd or even number of games won in League of Legends or any other. The bet can also cover rounds played or players killed.
Additionally, one can bet on match winners, which applies to various games. Esports bettors should make this wager before the event begins. The esport odds can change significantly as the game continues.
Other special esports bets include first-map bets, which are good for first-person shooters. It entails placing an in-play bet on the team that wins the first map. Gamblers can also bet on the first kill or blood in games such as CS: GO.
Major Esports Tournaments and Leagues you Can Bet On
Before staking money on esports, it is important to understand the various tournaments. Before the games became increasingly popular, the contests were held in small venues, and only a few fans watched.
This has changed as the organizers hold the tournaments in world-class venues such as Madison Square Garden, Staples Center, and Wembley Arena in London. Thousands watch as live audiences, and millions are glued to the internet. Fans watch the live-stream tournament on Twitch or HLTV. With the increased interest in the games, the prize pools are bigger.
They include the International, based on Dota 2, held annually since it officially began in 2011. The Valve corporation 2015 also introduced the Dota Major Championship, incorporating International competition. Players also compete in the League of Legends World Championship, which started in 2011.
Other tournaments include ESL Pro Leagues & ESL One, The Intel Extreme Masters, ELEAGUE, and others.
Betting Tips and Strategy Advice for Esports
To be a serious bettor, one must know a few esports betting tips and strategies. Some esports gaming strategies are common in most online gambling, but they are adapted to this genre. First, players can use the progressive staking strategy. It encourages bettors to decrease or increase their stake depending on the win rate.
Players still need to research their bets while using this strategy in online gambling.
Secondly, players can use the value betting strategy, which depends on identifying bets with additional value neglected by the bookmaker. Punters can also use the modified Martingale system when betting on esports. With this strategy, one lowers the third bet amount, which gives one better odds with smaller bankrolls.
Another strategy includes the Fibonacci formula, popularly known as nature’s code. This strategy depends on the number that follows the total of the previous two.
Apart from developing a sports betting strategy, punters need to know a few tips to increase their winning odds. The first tip is extensive research on events, games, bookmakers, or players. Researching a bookmaker ensures one selects the right esports sites. Bettors should also be ready to adjust depending on the outcome.
Finally, one should set a bankroll when betting online for real money. Doing this prevents one from gambling on unbudgeted funds or developing a serious online gambling problem. Players can also use betting bonuses to increase their game time.
Common Esports Betting Mistakes to Avoid
When gambling online, bettors can make some serious mistakes. It is also common in esports betting. For this reason, one should be careful to avoid these costly mistakes. The first mistake to avoid is not being familiar with esports. It makes it harder for one to place winning bets. A punter may also be stuck knowing where to begin or proceed in the betting market. One also needs to carefully understand the market by knowing the basic terms and rules of betting on specific esport events.
Additionally, one can ignore a team’s or player’s form when betting. The state of a team or player ultimately determines their performance. Another common mistake made often is mismanagement of the bankroll. This problem is common to many beginners. It happens when one is too focused on big wins and fails to cover their losses.
Mismanaging the bankroll is a serious problem as they can lose their savings, drowning them in debt. To avoid this, bettors should have daily, weekly, or monthly betting limits.
Punters can also make the mistake of betting on their favorite player or team without proper research. One should always analyze the event without immersing emotions.
Reputable Places for Esports Betting
Ranking the best esports betting sites can be challenging. Therefore, there are various factors that players can keep in mind to ensure they select reputable sites. First, players can look at the online betting site’s rating, as rogue ones rarely stay alive for long.
When doing a search on the online sports betting industry, players can discover any misdeeds from these rogue sites. Social interaction on various sites such as Facebook and Twitter provides more information on how well a site handles issues. There are also consumer reviews from countless sites.
When researching a reputation, the main areas to look at include ease of withdrawals, cashing out turnaround times, options for withdrawing money, and site policy on player funds.
Additionally, players can look at a site’s esports coverage which should include variety and quality. Finally, players can look at the site’s available bet types and betting markets. Some sites on which players can sign up include 22Bet Esports, Bet365Esports, Betsafe, Betsson, Betway, and more.
Conclusion
Esports betting is growing and capturing the market as more and more people become interested in the sport. However, to be successful and win big, you must be familiar with all the aspects of the games. These include understanding the bet types, the games, and the esports tournaments.
Additionally, like with most online betting, players need to learn the strategies and esports betting tips. These are knowing and understanding the esports betting guides and tactics. Punters should also set a bankroll before the start of the games to avoid falling into gambling problems.