Esports is taking over the world by storm. It has been growing exponentially in popularity, especially with the younger generations becoming more and more invested in video games. So, what exactly is esports and how has it grown into a large betting scene?
What is Esports?
Esports is a form of competitive video gaming where individuals or teams compete against each other in multiplayer games. These games can vary from classic computer games such as League of Legends, Dota 2, Counter-Strike: Global Offensive (CS:GO), and StarCraft II, to console games like Fortnite and Overwatch.
Esports tournaments have become much more organized over the years. They can be hosted online ggbet ios or in physical arenas, attracting live audiences and gaining coverage on mainstream media. Prize money for major events such as the International Dota 2 Championship or the League of Legends World Championship now rival or surpass that of traditional sports events, with payouts running into the tens of millions of dollars.
The Growth of Esports
Esports have grown explosively, accumulating a global fan base that goes beyond age, gender, and borders. This growth is driven by the increasing popularity of video games and the global reach of online gaming platforms.
The esports industry was valued at 1.1 billion dollars in 2020, and is expected to grow at a compound annual growth rate of 16.5%, reaching over 2 billion dollars by 2023, according to a report by Newzoo. China is the largest esports market in terms of revenue, followed by North America and Europe.
The Betting Scene
Betting has been around for a long time and it was only a matter of time before it became a part of the esports industry. Esports betting has flourished over the years, garnering a large fan base that places bets online.
Why is Esports Betting Popular?
Different factors have contributed to the rise of esports betting. Firstly, it enjoys a huge following from fans across different demographics, presenting a big opportunity for online betting operators. Secondly, bookmakers have made it possible to place bets online, making access to esports betting available and easy. And lastly, the advance of technology has made it easier to facilitate esports betting.
The Most Popular Esports Games to Bet On
The following are the most popular esports games to bet on, according to the latest statistics:
- League of Legends
- Dota 2
The Different Types of Esports Bets
Just like with traditional sports, there are different types of bets one can place on esports. The most common types include:
- Match winner – picking a winner of a match
- Handicap bets – betting on a team to win by a certain point margin.
- Over/Under bets – betting on whether a match will end with a score above or below a given number
- Futures bets – betting on the outcome of a future event such as a tournament or league winner
The Pros and Cons of Esports Betting
Esports betting has its pros and cons, as with all forms of betting.
- Accessible – online esports betting is easy to access and use
- Fun – betting on an esports match can make it even more thrilling and interesting
- New Betting Options – esports betting offers new betting options to traditional sports betting fans
- Risks – as with all forms of betting there is always a risk of losing money
- Lack of Regulation – there can be issues of safety and integrity in esports betting due to the lack of regulation
- Age Restrictions – esports betting is restricted for minors under 18 years of age in most countries
The rise of esports and its betting scene is making waves in the world of sports and entertainment. Not only does it provide a new way of entertainment for fans, but it is also a lucrative market for online betting operators. However, it does come with its cons, and it is important to remember that betting should always be done responsibly.