All That You Need To Know About eSport Betting
eSport Betting is widespread across the globe. Once started as a fun between the friends and acquaintances, now it has become a booming industry where people do not hesitate to risk hundreds of millions of dollars. As the industry is growing fast, you might be interested to know more about the betting on esports. If yes, then you are in the right place. This article will offer you all the required information on eSports betting.
How to buy an eSport betting sportsbook
You will have to consider a few factors such as the reliability of the site, the price and promotional values, and the types of the bets that you can place.
Are these books trustworthy?
All the books might not be that helpful. You can consider the following simple tests to know about the credibility of the sportsbook.
- The test of the regulation. You will have to go through the license and some other jurisdiction that you can uncover through a Google research.
- The test of social proof. You can inquire about the site on social media. Any credible site will have a good reputation on social media.
- The text of experience. You should start with a small deposit and small bet. If you find it really genuine, you can rely on that sportsbook. If you are not satisfied, you can consider other options.
What are the prices?
The price will keep changing depending on the market and sportsbooks. You will have to shop around first to know which odds can be beneficial for you.
Which promotional value should you expect?
Most of the sites normally offer bonuses and promotions to the new players. Some of them are deposits, VIP/ cashback programs, and free bets.
What are the types of bets?
The quality and quantity will vary depending on the sportsbook. You can consider match betting, pinnacle, and Unikrn. When you can place the Match betting on the result of the match, the Pinnacle and Unikrn are placed on the live matches.
You should also focus on the quantity. Always remember that all the sportsbooks do not offer odds on all the games and events. Betway esports and bet 365 have a good reputation for offering better odds. Bit William Hill adopts the wait-and-see approach.
Is eSport betting legal?
This is yet to be answered. But as the bettors, you will have to follow some rules and regulation determined by the jurisdiction of your locality.
Is there any regulatory body?
No, there is not any specific regulatory body. But there will be a number of the entities and leagues. You will be subjected to the regulation of the jurisdiction of your place and site.
What is the legal age?
The age will vary depending on the jurisdiction.
How do you know about the fair matches?
You can consider a few factors to ascertain the fairness of the matches including prize pool of the esports, traditional sports books, and regulation. You will have to go through the details to avoid any risk.
What will be the deposit process?
It is similar to the traditional sports betting online. You will need an account. You will have to deposit money into your account.
Can you use Visa and Mastercard for the deposit?
Yes, these two are very popular among the bettors for the easy usage.
Can one use Bitcoin for the betting?
Only a few smaller sportsbooks accept the Bitcoin.
What are the other methods for the bet deposits?
You will find many including ACH transfers, virtual wallets, wire transfers, money transfer, and cash deposits.
What is the size of the eSport betting industry?
The industry is growing fast. According to a recent study report done by Eilers Research, the betting will exceed $20bn by 2020.
What are the numbers of the bettors?
The number is increasing with every passing day. There were around one million players betting with real money in 2015. People all over the world are interested in the esport betting and number will be around tens of millions for the major events.
What about the betting money
Pinnacle gets the preference with millions of esports bets. Some other well-funded sportsbooks including Unikrn will pose a serious challenge to the Pinnacle. The total bet at esports in 2017 exceeded half a billion dollars.
Which regions are more interested in esport betting?
According to a report based on 2015 data, 61% from Asia, 23% from the US, 12 % from Europe, and 4% from rest of the world.
How to place eSports bets
There are different ways to place the eSports bets such as the social betting, traditional sportsbook betting, item betting, and fantasy sports betting.
Social eSports Bets
Social eSports bets are placed between the friends on the result of the game or event. The benefit is that it will offer you a lot of fun as it will be placed among the known people. It can be challenging as well. But the disadvantage is that it has a limited market. You will have to find a friend for this betting.
Traditional Sportsbook Betting
Traditional Sportsbook betting is similar to any other online sports bet. The benefit is that it is more reliable and brings more confidence. But you will have to find a reliable sportsbook to avoid any risk. In the current condition, many new sportsbooks are coming up. You need to be more careful before playing with your real money.
Item betting does not involve any direct cash. It can be both formal and informal. The prizes and wagers are conducted using the transferable in-game property that might be abilities or weapons. The benefit is that it is simple and can help the bettors to have some value out of their items. But the downside is that there will not be any specific regulation.
Fantasy betting is very popular in some places in the USA as there are increased regulations on the traditional sportsbook betting. Moreover, this betting has a partial exemption of the gambling law in America. The benefit of the Fantasy betting is that it is legal in the USA and readily available. The downside is that it is a bit complex and the options will be limited.