What You Need to Know About Esports Betting
Last Updated: July 1, 2022
The sporting industry is one of the biggest in the world. Worth approximately $150 billion, it's easily one of the largest markets you can be a part of.
Sports fans can easily get involved in the action themselves by placing bets on their favorite teams or predicting who will be the man of the match.
Lately, there has been a very sharp rise in the profitability of esports and betting on them.
Lots of sites are now popping up, e.g., Midnite Esport Betting, and they offer you the chance to bet on your esport of choice to hopefully win big.
So, if you love sports and you're interested in trying something new, keep reading and find out everything you need to know about esports betting.
What Is Esports?
Esports stands for electronic sports and is more commonly thought of as video gaming. Nowadays, esports has become a competitive sport that people from across the globe participate in.
There are even tournaments and championships just like regular sports, and the winners can walk away with some pretty hefty cash prizes.
The rise in esports is thanks to streaming apps like Twitch and YouTube, with people tuning in to their favorite players and watching them play their game of choice.
One report showed that in 2021, around 380 million people watched some form of esports that year, so as you can see, it's insanely popular.
Is It Legal to Bet On Esports?
The legality of betting on esports depends on where you live. In the UK, betting on esports is completely legal, but in the US, it's only allowed in Nevada and New Jersey.
Some states do permit some regulated form of esports betting, such as Washington DC and Delaware, but this just allows you to place a bet with a legal bookmaker.
You may see online sites allowing you to bet even if your state hasn't legalized it, but you should avoid these at all costs.
These sites will most likely be unsafe, and if you're caught using them, you could land yourself in some very serious trouble with the law.
Make sure you check if esports betting is legal in your country before trying to place a bet. It's not worth the risk!
What Games Can I Bet On?
There are so many games you can bet on when investing in esports, but there are also different types of esports, too.
You might think that esports is only going to be games like FIFA, but actually, you can bet on Call of Duty and even Fortnite!
There are mobile games like Mobile Legends: Bang Bang, which has taken the esports world by storm and now hosts a world championship each year.
There are also fantasy esports that you can bet on too. Fantasy football is one of the most popular games to choose from when moving into the fantasy realm, and you can still use your sporting knowledge to help predict the outcomes and make decent bets.
Benefits of Esports Betting
One of the major benefits of betting on esports is your chosen team or players are necessarily prone to the same injuries that you'd expect in real life.
This can greatly lower the chances of your bet not coming to fruition as they won't suddenly be struck down mid-game.
Although esports players can still experience injuries or illness, it's not as common due to the nature of the sport.
Some esports also have brilliant odds, so you can really win big if you're lucky.
Esports is expanding rapidly, so there's always a new game to be played, meaning there's always a new bet to be placed.
It's not often that a brand new sport comes about in the real world, but new esport games are developed and released extremely frequently. The wide variety of esports available makes it one of the most fun sports to bet on.
How Do I Bet On Esports?
Betting on esports is essentially the same as betting on regular sports, except you're much more likely to do it online.
Not many brick-and-mortar stores will allow you to bet on esports, so don't pop down to your closest bookie and expect to bet on Call of Duty.
One thing to be aware of when betting in the UK is that your chosen online esports site should hold a UK Gambling Commission license. Otherwise, you can't legally use them.
Once you've confirmed that your chosen site is legal, you can make a bet the same way you would normally. Some sites allow you to use crypto, but most of them are typically cash.
What Type Of Bets Can I Make?
The types of bets you can make are extremely similar to betting on regular sports, too. For instance, you can bet on FIFA just like you would bet on a real-life football match, predicting the winner and betting on certain players to score goals, etc.
There are other types of bets you can make because of the diversity of the games available. For example, you'll be able to bet on shooter games like Fortnite.
You can make bets on who will win the battle royale, or a Call of Duty bet could be whoever you think the last man standing will be. These bets will require you to learn about the esport itself and the participating players.
What Can I Win?
Generally, you place your bets with cash, and you win cash back if your bet is successful. However, there is another type of prize, and that's called skins.
When you place a bet with a skin, this is where you use virtual items related to the game you're betting on.
For instance, in Fortnite, you could bet weapons or gear, and in other games, you can even use the in-game currency.
If your bet is correct and you win, then you acquire the skin that everyone else has put on the line.
Esports is a vast and growing market, with more games being released at an increasingly fast rate. Although it's still relatively new, it's fast become a firm favorite among sports fans and gaming fans alike.
So, if you're interested in turning your gaming and sporting knowledge into cash, why not check out the sportsbooks available to you in your country and see if you can get involved in the latest craze of esports betting.