E-sports (also known by the name of electronic sports) represent a form of a professional video gaming competition. An e-sport event is usually organized as a multiplayer competition in which predominantly the professional video games player take part. This trend started around ten years ago and had been experiencing an exponential growth both in the number of competitors and the worldwide popularity ever since.
E-sports events are mostly based on video game types such as MOBA, FPS or RTS games. Therefore, the most popular e-sports games would be League of Legends, DOTA, Fortnite Battle Royale, PUBG, Call of Duty, Counter Strike, etc. LoL Wolrd Championship represents one of the biggest e-sports events, in which dozens of sponsored professional teams participate, competing for outstanding cash prizes!
Certain e-sport organizations, such as the Overwatch League or the North American League, have started showing up. These organizations provide salaries for the players and organize the entire gaming season including the playoff part, like in any other sports season. The popularity of e-Sports is growing so fast, that the International Olympic Committee is considering including these types of events in the upcoming Olympics.
The electronic sports industry is quickly spreading all over the world, and the experts predict that, by the year 2019, around 430 million people will keep an eye on at least one e-sports event.
If we look at the revenue achieved by the industry itself, we will get the perfect insight into the development of this online gaming branch. The worth of the complete industry has increased from 130 million dollars back in 2013 up to around 900 million in 2018! It has been estimated that the industry will generate over 1.5 Billion US dollars in the year 2021.
Electronic sports events have surpassed some of the most familiar traditional sports competitions in terms of the prize pool amount. For example, Golf Masters tournament comes with the prize pool of 11 million dollars, the Confederations Cup carries 20 million, while e-sports events possess an overall prizes pool that takes the value of 24.7 million US dollars!
The earliest form of betting on electronic sports has started appearing in the Counter-Strike – Global Offensive video game. This form is still known by the name of “skin betting”. So, what is it about? Well, with the updated version of the Counter-Strike GO also came so-called “skins”, which are used to upgrade the looks of the included weapons. For more info follow https://live-casino-online.org.
These skins can be acquired throughout the advancement in the game, but there is also the possibility of purchasing them, which created a skin-trading market among the players. And of course, skins that occur rarely came at a higher price, given the fact that the demand for them was higher as well. However, this wild gambling market couldn’t exist in this form for long, so new websites started appearing, and some of the already existing online casinos started extending their offer and e-sports betting started to get a form as we know it today.
Types of E-sports Betting
Nowadays, a solid number of online casinos offer the possibility to place a wager on the desired electronic sports event. The list below displays some of the most desirable wagering options:
- Real Money Wagering;
- Skin Wagering;
- Social bet;
- Fantasy bet;
- Challenge bet.
Real money betting looks like traditional sports betting, where the player puts his stake on a selected occurrence. All occurrences come with different odds, which are then multiplied by the stake, in case of a win.
Skin wagering works pretty much the same as in the beginning. The huge difference is that now there are specialized trading websites, where players can buy, sell or exchange skins. Some websites also allow placing a wager in skins, as a substitution for real cash bet.
A social bet is usually present in small, closed communities. It’s commonly used by a group of friends or acquaintances, through which they create their own mini-competition to place a wager on.
Fantasy sports represent one of the most common types of electronic sports betting. The players choose a sport and create their own rooster. Afterwards, they collect points, which are earned for good performance of the players included in the team.
Challenge bet represents a 1 on 1 competition, in which the players commonly organize the event either among themselves or with the help of a specialized website, to make the things more formal. The competitors make arrangements whether they will play for real money or skins and other items.