Betting on esports is one of the biggest things happening in the gambling world today. This new form of betting started gradually and has managed to gain traction in recent years thanks to rapid technological advancement. Researchers have reported that the global esports gambling market will be close to $30 billion by the start of 2021.
This is a massive figure especially when you consider that this technology has not yet been fully embraced. Today, the esports gambling fan base is huge. However, it’s not as big as the fan base for renowned gambling games like football, soccer, and tennis. The majority of people outside these fan bases, don’t have an idea what esports is about. And they probably don’t have a clue about making bets on them. What is esports gambling in the first place? And how does it work? Here is a comprehensive guide to betting on esports.
More about esports gambling
This article will help those who are new to esports gambling as well as those who are already involved. Esports is a short word for electronic sports. And it is all about competitive video gaming. Esports involve playing video games against other players. There’s nothing new about the concept. People have been doing this since the first PC games and gaming consoles were introduced. There was a time when playing video games against live opponents was only possible if the same machine was used.
Popular esports gambling methods
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Real money betting
This is a popular form of betting especially in traditional gambling. It works in very similar ways as betting on boxing, football, and golf tournaments. Real money wagers are usually placed at specific odds and get paid when the selections are predicted accurately. Gamblers can bet on different kinds of outcomes including individual markets.
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Skin betting
The preferred currency choices for esports gamblers include cash and skins for virtual games. With cash, there is little explanation. The cash gambling system on esports works identically to that of traditional gambling and online gambling.
On the other hand, skins are used in the virtual world of gambling. The term skin is used to describe the ever-changing appearance of virtual items such as player’s weapons, avatars, and equipment. While several gambling games use the skin system, skins are quite dominant in the betting market. And they account for more than 80 percent of the entire wagering activity.
There are hundreds of sites where gamblers can use this currency and item to play with. Skins can be used to bet on esports outcomes as an alternative to real money.
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Challenge betting
Challenge betting is popularly known as head-to-head betting. And it involves players competing against each other for skins or real money. Most gamblers usually organize wagers and then settle on their agreement once the contest is over. Several websites formally organize things to allow players to pay an entry and contest fee. Winners get rewarded from the proceeds of these fees.
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Jackpot games
Jackpot games are popular in the top gambling sites today. These games enable players to risk a few bucks for a chance to win millions of dollars. Today, jackpot games are available at Luckypennsylvania gambling site and skin betting sites. There are hundreds of jackpot games that can be easily accessed thanks to rapid technological advancement.
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Social betting
Social betting is a common phenomenon in the esports community. It involves friends or close contacts placing informal wagers on the outcomes of a game. The wagers can be in form of real money or skins. The terms of conditions are usually agreed upon between the parties and settled effectively in the end. Most successful gamblers avoid this form of betting because betting with friends is rarely a good idea. Betting with friends can lead to arguments and a fallout. Plus, you never know whether you’ll receive your winnings in the end.
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Fantasy betting
Fantasy esports gambling has been growing in recent years. Sites that offer fantasy esports offer a salary cap model variant where users select several players for their team under the salary cap guidelines set by the website. Once the players have chosen their teams, they score fantasy points based on their competition performance. The contests offered on esports fantasy gambling sites are similar in many ways to traditional gambling.
Esports Betting advice
Knowing how to bet on esports is essential. But understanding how to make money is something entirely different. There are a lot of things that you should understand if you want to beat the bookmarkers. You’ll need to be patient and prepared to invest time and energy. Remember, betting is not just about making money. You can do it for fun.
