Did you know the above 100 million audience viewed the 2023 League of Legends World Championship? Yes! It’s factual.
Also, with over 13% CAGR, gamblers have registered in the esports betting industry. Interestingly, it has increased to 44%, maximizing the game’s popularity.
However, eSports betting is the trending internet gambling company with attractive gaming opportunities and competitive odds for every player.
According to Hungrybox in the eSports industry, “Smash is a beautiful game, it deserves to shine […] I hope this game lives for another 20 years”. This is exactly what is happening to eSports. Scarra would always say “Up until they lose the game, they’re winning.”
Do you want to know more about the rise of eSports betting? Let’s go.
In this article, you will learn about the following to boost your enthusiasm about the game.
- What is eSports Betting?
- How eSports Betting Odds are Calculated?
- Is eSports Betting Legal in the US?
- eSports Betting Promotions
- Rise eSports
- eSports Betting Bonus
What is eSports Betting?
eSports betting is a recent form of entertainment that has inexhaustible wagering on competitive video gaming events. These games are streamed live. They come in different genres. So you can select the one that suits your interests. The competition is in numerous video games such as Global Offensive, Dota 2, League of Legends and Counter-Strike.
This industry has millions of gamblers worldwide who find it juicy to watch its amazing gaming videos. It is a legal and profitable market for betting enthusiasts. It shares similarities with traditional sports betting, where you can predict outcomes like scored points, match winners, suitable game events and earn large bonuses. What a bet!
How eSports Betting Odds Are Calculated
The method used to calculate odds in eSports betting is the same as in traditional sports betting like Betibet. Find a detailed review here. To assess the probability of the numerous outcomes, the bookmakers consider the team or the player’s previous performance and the in-game statistics.
This is why you need to know how eSports Betting Odds are calculated. By knowing it, you can simply sum up your odds and the percentage.
Let’s look at this mathematical expression showing how to calculate eSports betting.
- 4/1 = 1/(1+4) = 0.20 (20%)
- 11/5 = 5/(5+11) = 0.3125 (31.25%)
- 1/1 = 1/(1+1) = 0.50 (50%)
However, if a team has subsequently performed excellently in recent gambling, they might receive shorter odds. These shorter odds indicate the maximum probability of winning the game. Those underdog teams are given longer odds. That is to say, the low chance of winning.
Factors influencing odds include team composition, player injuries, specific game maps, etc. With all these, players find the gambling industry entertaining, exciting and complex. No one can know who the winner might be.
Is eSports Betting Legal in the US?
One of the questions that pops to your mind anytime you want to play these games is this: Is eSports Betting Legal in the US? Yes, the legality of eSports betting in the US can never be overemphasized. As it stands, it serves as a patchwork of state-by-state regulations.
There is no federal law explicitly banning eSports betting. Instead, it is operated by sports betting, which is authorized in many states. This was after the 2018 Supreme Court ruling in Murphy v. National Collegiate Athletic Association, shortened as NCAA.
One unique thing about eSports betting is that states like Nevada, New Jersey, and Pennsylvania have preferred it more than others because it creates room for popular games. But to be sure, you need to verify the legal status in their respective destinations as regulations continue to circulate.
eSports Betting Promotions
The eSports betting promotions are mouthwatering. Many eSports betting platforms take pride in offering collections of promotions. Due to this advantage, bettors would always prefer watching more video games. The promotions involve juicy welcome bonuses if you are a newly registered user. Once you sign up, you will receive free bets or deposit matches.
Comparatively, eSports betting awards odds boosts where your preferred bet increases. Also, you would be permitted to play risk-free games. So, even if you lose your game, you can quickly get a refund.
Another promotion is the popular Loyalty program that rewards you if you consistently win points. So that you can redeem them at various perks, these promotions have significantly made eSports betting platforms attractive and satisfying. Making individuals who want to start a betting business become eSports enthusiasts.
Rise eSports
Without mincing words, eSports has covered the globe. Something that people see as a hobby has gradually grown into a more extensive entertainment industry worth approximately billions of dollars. Technological advancements and increased internet accessibility have also played a vital role in making eSports the trending betting business globally.
The popularity has also increased the number of players becoming professionals. You must always know how to play the game before winning. However, you can earn Pocket-filled incomes through streaming revenue, prize money, sponsorship, etc.
Do you know that the growth of eSports has gradually extended into the betting industry? The culture of choosing unique aspects of gaming, the numerous games offered, and the unpredictability of outcomes have been maintained to arouse players’ interest. With this, the number of betting enthusiasts will keep increasing.
eSports Betting Bonuses
The eSports Betting bonuses come in a fascinating pattern. It serves as a significant attraction for new and old eSports bettors. When the bonuses are mentioned, they come in distinct forms. First is named deposit bonuses, with a matched percentage of the user’s deposit. Another one is called no-deposit bonuses, which permit you to play bets without any initial transaction (deposits).
The free bet is another bonus eSports betting can offer you. You can place a bet without risking your money. Remember, with these bonuses, you can explore excellently different betting markets without detriment. Also, With Kate Richardson as our guest expert in the betting Industry, he would always offer catchy bonuses to attract more new players.
To beat all games, ensure you painstakingly go through the terms and conditions. Note the wagering requirements and other restrictions to avoid errors.
Final Verdict
In a nutshell, esports betting has increased in popularity. This has opened diverse opportunities for bettors. Also, it’s a lucrative venture if you want to go into it.
However, you must bet responsibly to avoid facing financial challenges. You should also stay informed about legal regulations and use promotions and bonuses wisely.
Remember, the rise of eSports betting is just beginning, and it will likely continue to grow as the industry matures.
Image source – MightyTips
