Esports betting - the unnoticed industry that is finally flourishing

The industry is expected to generate revenues of over $1556.7 m globally by 2023. However, the esports betting industry seems to have gone unnoticed by many bettors and is only beginning to tap into its full potential.

Esports is thriving in the sports betting world and finally getting the attention it deserves

Esports betting is growing rapidly and is being capitalized by big countries and prestigious organizations. US universities are promoting esports teams and offering special scholarships to players worth millions of dollars.

Millions of fans all around the globe watch esports tournaments through live streaming platforms such as Twitch. Fans like to bet on CSGO, Dota 2, League of Legends and a range of other professional events. There is a vast variety of games and betting options to choose from. According to a statement published from Inside the Games, esports will be a part of the Paris Olympics in 2024. Esports teams have also partnered up with wagering websites to make huge profits.

What Is Esports Betting?

Most people are unfamiliar with the term esports betting, even though it’s been around for a few years. Although the betting industry itself is humongous, it is common for people outside of the esports betting circles to not have any idea about what esports betting is.

The term esports is typically used as a short form for electronic sports and it focuses on competing through video games. Some of the infamous games players place bets on include Call of Duty, Overwatch, League of Legends and Player Unknown's Battlegrounds. Despite the fact that people have been playing video games for hundreds of years, esports has only recently caught the attention of serious betting enthusiasts.

Due to the involvement of professional players and the presence of great marketing strategies, esports betting is now a gigantic and serious business in different countries over the world. Online casinos were quick to take advantage of the growing popularity of esports betting and esports games can now be found on the top online sports betting sites.

How Esports Betting Works

Just like real sports, esports lets players bet on a team or solo players who they believe will win a specific match. There is a vast variety of games and betting options to choose from. Most online sites also provide players with an esports betting bonus so they are encouraged to play their games and win money.

Types of Esports Bets

1. Betting Outrights

These bets are placed before an event begins. The bets are commonly placed on the one single winner of the competition or game. Some of the bets could be placed on which players will win and pass through the next game of an event.

2. Match Winner

A pretty clear bet, this is the type of bet gamblers place when they want to pick the winner of a given match.

3. Totals

Here, gamblers bet on how many of a given thing will be played out in the course of a game. In other words, this type of bet concerns a specific stat. Most commonly, people bet on total maps played, total kills, total rounds, or total points.

4.Odd/Even Betting

A risky proposition for many, odd/even betting is basically a bet on whether the sum of the two scores is odd or even. For example, in a CS:GO match, users can bet whether the total rounds won by a team are odd or even.

Now that you know how much traction esports betting is getting and the different types of bets you can place, will you be willing to place a bet on your favorite player? If so, which game would you bet on first?