How does esports betting work?
How does esports betting work?
Esports is becoming increasingly popular in the world of competitive sports however, esports betting has also gained popularity.
Some of the popular ways to bet on esports include real money betting, leather betting, social betting, fantasy betting, and challenge betting.
Real money betting
This is the traditional method of betting like many other sports where people bet on certain outcomes that have associated odds and are paid if their bets are correct. The most common and simple bet is where gamblers bet on the winner of the match. Some of the other real money bets include concessions/futures, handicap bets, total bets, correct score, and specials/props.
Waivers / Futures Contracts
When betting on competitors/futures, players choose who they think will win the entire competition, which teams will qualify for the tournament, or even what stage the team will reach.
With handicap bets, handicaps are placed on the competing teams before the competition. The player’s job is to predict who will win the competition after applying the handicap to each team’s final score.
In the total bet, players bet on the total number of maps played in a match. This is also the same as the total number of points scored in the match and players can choose to either bet more or less than the total points decided by the bettor.
To get a bet on the correct outcome, gamblers bet on the exact outcome of the competition. Since many competitions are played in the top three series, the bettor can either bet on a team that wins the series 2-1 or 2-0, or loses 1-2 or 0-2. To win the bet, the player must choose the given team and the correct score for that team.
Different from betting on the whole match, a special / special bet is made on an event that will occur during the match. Since this type of bet is usually more difficult to predict, it is often placed for fun rather than to win a payout. An example of a specials/props bet might involve the first team to score in the game.
Leather betting is primarily involved with the betting elements found in video games. These items may include gear, equipment, weapons, and virtual currency from the games. There are many websites and online marketplaces where players can buy, sell and trade items and coins. In addition, there are also sites for players to gamble in esports games with their virtual currency and items instead of real money.
Social betting is a type of informal betting in which players bet the results of competitions with each other. Players may bet with real money as well as virtual currency and video game items. Since this is an unofficial way of betting, players must agree to the terms and conditions before betting and are responsible for holding each other accountable for the winner’s payout. This type of bet is very risky as it may lead to conflict and, in the end, players may not receive the amount they are entitled to.
Similar to other fantasy sports betting, people can also participate in fantasy esports where they build a roster of professional esports players. To enter a fantasy competition, players purchase a ticket as early as paying the entry fee. When drafting their teams, participants are given a fictional budget that they can use to purchase players for one or more esports matches. Throughout the matches, gamblers are awarded points based on how well their players perform and whoever has the most points at the end of the competition is awarded the set bonus.
This is a type of head-to-head betting where players compete against each other in different games and bet themselves instead of other players. Gamblers may bet with real money or things, skins, and virtual currency. While players often bet informally before the match, there are also official websites responsible for collecting fees and distributing the winnings to the competition winner.
Esports betting strategy
When betting on esports, it is important to have a strategy. One of the main aspects of betting is understanding the odds and calculating the corresponding payments before placing a bet. This will help determine the value of the bet and which bets are worth making. Another important aspect is doing research and analysis to gain a better understanding of the markets, games, player stats, playing styles and even past performances.
Is betting on esports legal in the US?
Yes, betting on esports is legal in the United States. However, it will depend on the state in which you live. Several states that have clearly established esports gambling include Nevada, New Jersey, Tennessee and West Virginia. While other states such as Arkansas, Delaware, and New York have legalized sports betting, they have not explicitly stated that electronic gambling is legal. In the case of Indiana, the state legalized sports gambling but specifically decided that esports betting is illegal.
What are the best esports betting sites?
There are many different websites that allow users to bet on esports. Among the best sites to bet on are Bovada, BetOnline and MyBookie. Bovada is a well-established betting site that has been around for a while and has earned a reputation as being a safe site. BetOnline is another great betting site because it offers profitable lines and opportunities. MyBookie is a popular website that is known for offering lucrative rewards with its payments.
What esports games do people bet on?
Among the most popular esports games that people bet on are League of Legends, Counter Strike: Global Offensive (CS: GO), Defense of the Ancients 2 (Dota 2) and Starcraft 2. In terms of betting volume on esports, League of Legends dominates the game. on 38%, followed by CS:GO at 29%, Dota 2 at 18%, and Starcraft 2 at 7%. League of Legends is the best real money betting game, but CS:GO has the largest number of variations traded in the leather betting market.
Jackpot games allow players to bet small amounts with an opportunity to win generous payouts. Currently, jackpot games are only offered through skin betting sites. Therefore, players can only bet on skins and other in-game items in their attempt to win the jackpot. In the leather betting market, jackpot games represent the second largest percentage of gambling activity at 25.8% after sports betting at 44.79%.