Esports betting is an exhilarating new form of gambling that allows participants to wager on competitive video games. Appealing mostly to younger audiences and much more affordable than traditional sports wagering, Esports betting promises thrills galore!
Although CS: GO remains the premier eSports title, each game offers unique bets specific to that type of gameplay. League of Legends’ real-time strategy mode offers bets like who will defeat either Baron or Dragon minibosses first!
It’s a billion-dollar industry
Esports is a multibillion-dollar industry, featuring worldwide competitions broadcast via broadcast television and offering prize pools worth millions of dollars. Bettors can wager either cash or virtual items from video games on these events through various betting websites that specialize in this form of wagering.
Esports gambling stands out from traditional forms of gambling in that it tends to be conducted socially between friends or against one another, rather than taking risks themselves. While not posing an immediate risk, this form of betting could potentially become addictive or cause other issues in its wake.
Most esports betting sites allow bets on individual games, while some provide unusual options like wagering on which player will get the first kill in a match. Furthermore, some offer fantasy esports betting which allows users to pick a team under a salary cap and win prizes based on its performance. According to research by Denoo et al (2021), most esports gamblers were young males scoring highly on problematic gambling scales.
It’s a new form of gambling
Esports betting is a form of virtual item-based gambling that uses virtual items known as skins to make wagers on games. Skins can be won through various means including real money betting. Unfortunately, unlike traditional forms of gambling esports is illegal in most countries and could increase risky behavior among young people.
Studies have demonstrated the popularity of esports betting among young people. Many sites utilize social media posts featuring amusing memes to attract this demographic – an approach different than traditional sports gambling advertising which caters more towards an older target group.
Studies have also demonstrated that adolescents engaging in esports gambling are more likely to engage in other forms of gambling and videogame consumption than their peers, including risky behaviors related to gambling such as purchasing virtual items and learning game-specific skills (Gainsbury et al. 2017b; Greer et al. 2021).
It’s a way to make money
Esports betting is an innovative new way of making money and many people are taking notice. The only difference from traditional gambling is that bets are made using virtual items called skin betting in esports; some sites with high handle amounts and difficult monitoring are popular choices among bettors.
There have been concerns that esports betting could lead to gambling addiction or dependency, since it can be hard to distinguish between the excitement of video game betting and actual gambling activity. Luckily, support services exist for those experiencing any form of gambling difficulty including esports gambling.
It’s a way to gamble responsibly
Esports betting can be an enjoyable way to gamble responsibly, but you need to understand exactly what you’re doing before placing any bets. Without an in-depth knowledge of the game and betting systems, it could cost a significant sum – if in doubt consult an expert in gambling.
Gainsbury et al. (2017b) and Greer et al. (2021) found that esports gamblers were more likely to come from non-white ethnic backgrounds than traditional gamblers, as per two studies conducted by Denoo et al. (2021). Furthermore, Denoo et al. (2021) observed an association between esports gambling and a higher level of problematic gambling severity as measured by PGSI; they also discovered more often real money betting rather than skin gambling; over-betting underdogs may indicate cognitive bias; furthermore they used real money betting sites when placing their bets.