Esports dates back to 1972, when players competed in a video game called Spaceman for a one-year Rolling Stone magazine subscription. Little did they know that this simple gesture would give birth to a billion-dollar-plus industry. Today,crypto eSports betting sites are at our beck and call, with some accepting cryptocurrencies.
Let’s look at the simple video games on our mobile devices to understand the concept better. We have PUBG, RPG, simulation, puzzlers, strategy, adventure, and the like. You will often play them alone on your smartphone, but imagine having multiple players and teams worldwide.
With esports Bitcoin betting, you don’t have to play the competitions or matches yourself. Instead, you find players, teams, or events and make predictions. Stay with us as we dive a little more into this concept.
The Rise of the Billion-dollar Esports Industry
Pick global sports and competitions and digitalize them. Instead of players playing them physically, they play through characters in a video game that could be football or any other sport.
The esports market’s revenue reached $1.38 billion in 2022 and has shown no signs of slowing down. People are cashing in on this fast-rising entertainment, although it is not replacing physical matches. This concept occupies a unique niche.
Bitcoin Esports betting involves placing crypto bets utilizing cryptocurrencies like Bitcoin and Ethereum in a highly organized world of competitive video gaming. Players or competing teams can be in different locations, even though world championships are often held in arenas. You can watch the games live at the venues or stream them on various services, including Twitch.
Crypto esports betting is a bubbling industry that has attracted millions of fans worldwide. Popular games include Fortnite, League of Legends, Call of Duty, Counter-Strike, Overwatch, etc. Those are only a few of the many options you have in this niche.
The closest you will get to traditional sports is simulation. Let us take a closer look at the titles and tournaments available in Bitcoin esports betting.
The Games and Tournaments
This industry has many genres, making it one of the most versatile in the world. Its digital format also gives it a wider reach for participation and staking.
The titles in esports betting include the following:
Sports Simulation
This genre is interesting if you are familiar with bookmakers or sportsbooks. It is the same thing you get with physical sporting events but in a digital format. Instead of watching matches in physical stadiums, you can watch them online.
Simulations could cover any sport, including football, the NBA, FIFA, etc. Most of the major leagues in the world have an e-sports section.
First-Person Shooters (FPS)
Esports betting is available for popular first-person shooter games like Call of Duty, Halo, etc. They support several markets to cover all aspects of the competition. In addition, you could have individual tournaments or team battles.
First-person shooter games are entertaining, even as you place bets on them. The explosive combat action has a certain vibe, something you might not get in the real world. We can’t have a Call of Duty competition in the real world.
By taking things digital, these games provide us with options we never thought possible. We have different kinds of Bitcoin bets to place in the competition.
Multiplayer Online Battle (MOBA)
Popular titles like League of Legends, Dota 2, Warcraft, and The International belong to the multiplayer online battle category. You will have a good dose of battles, fantasies, and even magic on your screen.
The unique thing about this genre is the team competitions. This alone brings multiple bets to the esports betting niche.
Tournaments in this niche always attract millions of users. The League of Legends currently tops the charts with a record-breaking 73.86 million viewers in 2021. You can imagine the rewards that one can get from such numbers.
Bets Available in Esports Betting
While some bets are available on specific sports, the general categories you will come across are as follows:
- Real-money fixed odds bets are like regular sports betting. This option is available to bookmakers.
- Private social wagering between two or more people.
- In-game skin bets and loot boxes.
The markets you will see in the subsequent section fall into these three categories.
Staking Markets Available
The variety of sporting events or competitions in eSports betting brings different bets to the table. You have the basic match-winner wagers and many more options to spice up the fun.
The markets available include the following:
Match Winner
Match-winner is familiar among sports bettors and is one of the most straightforward markets. Your predictions in esports betting are the same as those you would make in a physical football match. Essentially, what you do at an online sportsbook is what you do here.
League of Legends, Counter-Strike: Global Offensive, and Warcraft are some games on which you can bet on the match winner. In addition, you can add handicaps to enjoy better odds and more significant profits.
Outright Wager
This market is available for tournaments and championships. Instead of betting on the winner of a single battle or match, you expand your prediction to cover the whole competition.
Some online sportsbooks will let you place this wager before the competition begins. Nevertheless, you can still bet during the games if you are confident in your choice.
System Bets
System wagers in esports betting cover several mini-wagers. By combining different predictions, you can increase your payout. However, you will need luck to get all the sporting events correct.
Game-specific Bets
Apart from the wagers mentioned above, others are exclusive to certain games. That means you cannot find such markets in other games. It takes some searching to find the options.
Predictions in this market include the team getting the first map, the first team or player to get ten kills, etc. There are many more, but the selection depends on the esports betting site.
Conclusion
While esports betting can be a fun and entertaining alternative to traditional sports, there are risks you should be aware of. The games in this industry have different dynamics, and you are better off studying them before placing wagers. In addition, you must keep an eye out for frauds like match-fixing.