Esports Betting: Understanding the Risks and Rewards
Esports (Electronic sports ) is officially taking the next step into this globally known game.
Although it began as a bunch of people hanging out playing games over the Internet, gaming leagues and even professional players have become huge names in sports—drawing hundreds of thousands or millions themselves by way of tournaments that attract just as much excitement (if not more) than regular sports these days.
That boom is what brought us esports betting—where you can wager some money on your favourite teams or players.
However, before you dive headfirst into the world of esports betting we will go through what everyone values most — both sides to the coin. The party stops when someone loses money, right?
Key Takeaways: Esports Betting – Risks and Rewards
- High Rewards, High Thrills: Esports betting allows you the excitement of winning real money or other rewards while providing an extra layer of engagement for fans who have knowledge in their games. It turns knowing teams and current form into rights to brag, or even profits.
- Risks Due to Industry Youth: Esports gambling is riskier than any kind of sports betting because it’s a young industry with only few years in history, the games are patched every month and teams or players can change rapidly. This makes it very difficult to make predictions that hold up over the conditions.
- Odds Are Shifty: Esports betting is extremely volatile as odds can shift within a moment’s notice (even more so than in traditional sports) due to social media, last-minute roster swaps or patch changes. Bet Smarter by Staying Informed.
- Play It Safe: Sticking to a budget, choosing secure platforms and not chasing losses playing it safe means betting responsibly. Use Skill (or equivalent) and ensure that your betting money is separated so it can be tracked more easily.
- Enjoyment over Earnings: When you bet on esports, first and foremost it should be enjoyable. The idea is not to make it rich but play the game with that added element of suspense and a bit of friendly wager.
If you walk good, know the risks and don’t get too serious about it, esports betting can help enhance your enjoyment of watching some high level gaming — just stay smart!
What Is Esports Betting?
How is Esports Betting Any Different from Regular Sports Betting, Just for Video Games Instead of Football or Basketball?
You can choose who you believe will win in various contests that range from first-person shooters (FPS) like Counter-Strike, to team games such as League of Legends and hope for the best. Others are so detailed that you can place a wager on individual events in the game, such as who will land the first kill or which team wins round one.
Why is this exciting? Because if you know the game, or even other players…or especially some of what his strategies are — well then! Plus, what kind of psychopath would you have to be not enjoying feeling clever for having guessed correctly the outcome or a virtual battle?!
The Rewards: Show Me the Money!
The good stuff first. The rewards are the most exciting part of esports betting! Get it right, and you can win money… which is very exciting. After all, it’s not only about the money but also those sweet bragging rights. “Oh, you watched the game? I predicted the outcome.” Great line to use on your friends.
More Than Just Money:
Obviously, the big prize in eSports betting is money, you can earn real cash but other gaming platforms are now offering free bets and exclusive bonuses. But then again there’s the excitement of next season, and that is difficult to put a price on.
Using Your Knowledge:
If you’ve got the background as a fan and better understand exactly how the game is played, this might feel like that’s in your favor. Knowing the strengths and weaknesses of every player, or even team can make you feel like an insider, each sliding bet more tactical than before.
The Risks: But there’s always a Catch…
Obviously as with anything that sounds too good to be true, there are risks involved in esports betting. And boy, are there a few!
Less Historical Data:
Traditional sports have decades-if not centuries-of data to guide decision-making but esports as an industry has only recently entered the age of big money.
Esports? Not so much. The betting is more of a gamble (no pun intended, for all you block chain/tech wizards out there.) and that causes everything to move slower.
Game Updates and Patches:
Imagine you put a bet on football and, in the middle of how it is played, the referee suddenly says “my goalposts now fly”.
The existing skills need to be polished, and one must adapt quickly as new threats are presented with the release of game updates (or patches) which can significantly alter how the game is played at a competitive level.
However, in the last update this could not end well when wagering your cash basically on a team that used to be good.
Streamer and Social Media Influence:
Esports fans are young, like their streamers, whom they follow on social media.
Example: you are on a team, maybe have money riding with betting or whatever the case may be 5 minutes before kick-off and player posts “Not feeling it today”.
Social gave a lot of transparency to the situation, but it also made last-minute changes crippling. And now you are there left thinking oh my god is all that money down the drain.
Quick Changes in Odds:
While traditional sports odds can remain relatively dormant until game day, esports odds shift at the drop of a hat. Anything from a player swap to an 11th hour patch or Players failing their Monday morning breakfast can ruin everything.
You can very easily find yourself in a situation where you will mistakenly crazy to the fact, and that feel like just makes incredible backflip stunts on your head.
Staying Safe with Esports Betting
Betting is fun and all, but it isnt free money. So with that said, here are some advice on how not to lose it all in your venture into esports betting:
Set a Budget (and Stick to It):
Budget, Budget and Stick to It Do not bet more than you can afford to lose. Consider it as entertainment, in fact.
Do Your Homework:
This is basic but knowing what it is you are actually betting on like studying for a test. Watch the games and get to know who is playing, keep an eye on any news about patches or updates.
Don’t Chase Losses:
If A Bets Goes Bad, Do NOT Try And Make It UP! It’s okay as taking a pause and revisit the topic may be more beneficial than forcing yourself to get something done.
Use a Trusted Platform:
Choose to bet on such platforms only which are trust-worthy. Search for safe payment methods as well and do not forget to check the customer reviews from reliable sources. And maybe opt for a payment method like Skrill, which enables you to keep your betting funds separate from the rest of your bank account — useful if keeping an eye on spending.
Final Thoughts: Esports Betting—Fun, But Don’t Get Carried Away
Esports betting is a way to spice up watching your favourite games but you should also consider both the payoffs and the dangers. While betting on Counter-Strike or League of Legends can be an exciting way to wager, It is important that you gamble responsibly.
After all, those who are getting started in the area of esports betting should not think about making easy money with this. Thus, play with fun money and bet smart–and remember–the best part of enjoying your prescience is to have a buddy you can shout “I told you so!” at. To the friend who mumbles “I guess that was my lunch money” in sheepish response.
