How Esports Betting Works?
eSports is now big business. From the humble beginnings where LAN parties used to pit individuals against each other in a fun environment eSports is now a multi million dollar industry (a 2017 study estimated that the market was worth in the region of $900m) where highly trained professional (and teams) pit themselves against the opposition for prize money that would have been unthinkable even a decade ago.
And the prizes are getting larger – and viewership is increasing – which means more money from advertisers and sponsors. And with the growing popularity of eSports has come the betting action.
The process can be tracked back to ‘Counter-Strike: Global Offensive’ (CS:GO) where players began betting their ‘skins’ (which change the appearance of weapons). However it soon became apparent that these skins could actually be sold for real world money.
there have been accusations that this is a form of legalized gambling and in fact Valve (the owners of the CS:GO property) was sued for enabling the practice of ‘skin betting. In 2016 it issued a cease and desist order against various gambling sites that were facilitating the practice.
Valves other extremely popular multiplayer title DOTA 2 also uses skins and the betting market has also sprang up around the use of skins in much the same way as CS:GO.
Things You Should Know About eSports Gambling
As the popularity of tournaments has grown so has interest in eSports – this was almost inevitable given the prizes involved and the hype and marketing that now surrounds tournaments. Take the 2017 International for DOTA 2 – it smashed the record for prize money with a total of $24,787,916 up for grabs.
There are now a growing number of specialist gambling sites where punters can bet on the outcomes of the tournaments. In fact the practice is now going so mainstream that there are even bets which revolve around fantasy leagues – which are similar to the way that Fantasy Football in the United States operates.
The gambling sites that have been established to provide a betting service to punters who are interested in eSports are becoming increasingly sophisticated. It is no longer simply about skins – there are thousands of dollars that are changing hands and that amount is expected to grow in lockstep with the prize money that is also growing exponentially tournament by tournament.
It is not only the marketing by software giants that is driving an ever increasing interest in eSports. There is increasing interest by mainstream media in eSports and a new generation of players and bettors is now entering the gambling arena. Combine this with the fact that millennials and even the generation previous to them have grown up with gaming as part of their lives – and the fact that they now have disposable income and there can be no doubt that eSports betting is here to stay.
It surely cannot be very long before the sports pages of newspapers (if they are still around) and news sites report on the latest results from what is rapidly becoming one of the most important aspects of online entertainment. And when this happens stricter regulation cannot be far behind. For more information, get in touch here https://www.rivalry.gg