If you’re new to eSports betting then you’ve come to the right place. With this article, we’ll detail all the information you need to know in order to get started betting on your favorite games.
What are eSports?
First we need to define what eSports are. Do you play League of Legends, DOTA 2, Hearthstone, Counter-Strike, or other online video games? Then you already have a head start to what eSports betting is! The term eSports is short for electronic sports, and it includes an eclectic composition of video game genres such as RTS (real-time strategy), fighting, FPS (first-person shooter), and MOBAs (multiplayer online battle arenas). Essentially any online game that involves competition between two parties is considered an eSport. And just like any competitive sport, an expanding and flourishing community is evolving that allows clients to bet on a multitude of different betting styles.
If you’re a big sports fan and watch ESPN, then you’ve probably noticed a recent trend of various eSport’s competitions and tournaments appearing on ESPN2 and other affiliate channels. Some major eSport’s tournaments include The International DOTA 2 Championships, the League of Legends World Championship, the Battle.net World Championship Series, the Evolution Championship Series, and the Intel Extreme masters (just to name a few).
The History of eSports
The growth of eSports can be directly linked to its quick expansion in Asia, particularly South Korea. The growing popularity and the demand for a secure and stable internet connection for millions of gamers to compete against each other also led to the development and mass building of broadband internet networks in these respective regions. While this set the foundation, it wouldn’t be until 2010 that eSports took off as a worldwide phenomenon.
Viewership has increased tenfold in the past five years, and most competitions have prize money that exceeds $1 million (the DOTA 2 championship this year set a new record with a $6.2 million prize). The beginning of the century also saw a significant increase of televised eSports competitions. In South Korea, cable television channels dedicated their programming to cover StarCraft and Warcraft III exclusively, 24 hours a day. However, the biggest contribution to an increase in viewership can be linked to streaming websites.
Popular online streaming services, such as Twitch.tv and Azuba.tv, significantly helped the growth of eSports. Currently they remain the most popular source for viewing online tournaments (Youtube is making a huge push in this market as well). This rise in popularity led to video game companies quickly realizing the demand, and financial prosperity, that a growing eSports market potentially held.
Different Betting Styles
So now you know what eSports are, how do I get involved with betting on them? Prospective bettors select an event (such as the League of Legends World Championship), and then choose what type of bet they want to make. The standard bet is on a head to head matchup. For instance, when two professional League of Legend or DOTA 2 teams are competing against each other, a money line is established for each team and bettors can predict a winner.
Decimal Odds are generally used for an eSports game or series. This is the most common type of bet. For example, Team A has odds of 1.500 and Team B has odds of 2.800. The lower the number, the higher chance the betting prognosticators have given to that respective team of winning. If you were to bet $100 on Team A, the favored team, your return would be $150. The formula is calculated in the following format (using our given example):
Odds X Stake (money you put down) = Return (the money you get for winning)
1.500 X $100.00 = $150.00 ($50.00 profit and your initial $100.00 bet return)
2.800 X $100.00 = $280.00 ($180.00 profit and your initial $100.00 bet return)
To find the exact odds of a team winning, simply divide 1 by the decimal odds. For example, using Team A, 1/1.500 = .667 or 66.7% chance of winning (Team B: 1/2.800 = 0.358 or 35.8% chance of winning). These two probabilities add up to 102.5%, with the extra 2.5% establishing what is referred to as a ‘bookmaker’s margin’ (the amount of money the bookmaker is aiming to earn from all cumulative bets).
Other types of bets include what is referred to as Future bets. Essentially, at the beginning of a tournament or professional competition, a bettor selects who they believe will win the tournament. Other Future bets include picking the team that will finish last, or picking the teams that will finish first, second, and third. Proposition bets are specific bets that the respective betting company provides. An example is how many games a certain team will win in a given tournament. Combination bets are essentially betting on two different tournaments. The payoff is larger, but all bets must be successful in order to earn any money.
Check out our other articles for specific websites that you can place your bet at!