What’s next for the esports betting market
Jun 23, 2022
Esports has been around since the turn of the century but it’s only in the past ten years or so that the esports industry has gained considerable steam.
Today, top-tier tournaments like the EVO Championship Series and League of Legends World Championship regularly bring in millions of viewers. The competitive gaming sector is showing no signs of slowing down. By the end of 2022, it’s estimated that global esports revenues will reach almost $1.4 billion. It’s not just professional gamers and sponsors that look set to benefit. Esports betting is now a staple of web-based bookmakers and online casinos in Asia and beyond.
The rise in esports betting
Compared to traditional sportsbook betting, the esports betting industry is fairly rudimentary.
The biggest operators haven’t shied away from introducing betting odds on major league tournaments. However, you’ll have to search around for betting platforms tailored toward competitive video gaming.
The good news is that these platforms are on the rise. Once you’ve found an operator geared toward esports, you’ll be able to make a wide array of exotic wagers on just about any mainstay title of the competitive gaming circuit.
Popular types of esports bets
If you’ve ever wagered on the outcome of a traditional sporting fixture, many esports bets will seem familiar. If you’re looking to keep things simple, outrights are the way to go. As the name suggests, you’re betting on the outright winner of a single match.
If you’re looking for a healthier return on your initial wager, you can also bet on the outright winner of a tournament. Most sites offer this option on major tournaments. For the best odds, look to make your wager as early as possible.
More advanced betting options are available. As with conventional sports like soccer and tennis, you can take advantage of player performance and prop bets which often have higher risk and higher reward. For your bet to turn a profit, you’ll need to have a firm handle on the playing history of individual pros and team lineups as a whole.
Certain genres also offer a range of specialist bets. Multiplayer games provide the richest repertoire of betting options. You can place a bet on which team will win out on the first map, as well as which player will make the first kill in a contest.
One of the biggest innovations in esports is the introduction of bet-on-yourself odds. This style of betting can be interesting for gamers who aren’t quite ready to take part in professional play.
Several esports wagering platforms have emerged in the past few years. Gamers can enjoy the thrills of competitive play with the added benefit of being able to wager on how well they’ll do in a match. It’s proved popular with the League of Legends and Fortnite communities in particular. Going forward, expect to see more bet-on-yourself platforms hit the market.
It’s this unique wagering option that sets esports apart from the conventional esports market. However, don’t be too surprised if esports betting overtakes traditional sportsbooks over the next few years. By the end of 2022, the global esports audience is expected to exceed 530 million viewers. If only a fraction of this audience actively engages with esports betting, market revenues have a very bright future indeed.
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