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Sunday, June 23, 2024

The Rise of Esports Betting: A Look at the Growing Industry

The eSports industry continues to thrive in both popularity and value. In 2021, the global esports market was valued at $1.22 billion and is expected to grow to $5.48 billion by the end of 2029, increasing at a CAGR of 21% during the forecast period.

Viewership, sponsor investments, live streaming, an ever-developing tournament infrastructure, and even government gaming regulation are just some of the factors that regularly contribute to the expansion of the esports industry.

With millions of dollars poured into the world of esports, gaming quickly went from a hobby to an occupation for a lot of gamers. And where there are professional teams to compete in tournaments, there is also a massive fanbase of gamers who want to bet on their favorites.

What Exactly Is Esports Betting?

Believe it or not, esports betting works exactly like traditional betting. You pick a market you want to bet on, select a team or a player you want to support, decide how much you want to bet and that’s it, you’re good to go.

The only difference between the two is that you are betting on eSports teams and players instead of betting on well-known clubs like Real Madrid or Golden State Warriors. Similarly, you can either bet on team or individual competitions.

Just like traditional sports, esports organizations have professional teams that compete in a variety of games. For example, the FaZe Clan competes in everything from CS:GO and Valorant to Rocket League and Super Smash Bros. Moreover, the team has a different roster for each game, as is the case with most clubs that compete in traditional sports.

Another difference between traditional and eSports betting is that traditional sports betting allows you to bet on a number of different sports. However, with eSports, you are simply betting on a variety of different games.

Even though there are minor differences between the two, if you really think about it, esports teams work exactly like traditional sports clubs. Well, minus drafting, trade deadlines, and such. Of course, players do swap rosters every now and then.

Do you know what’s the best part about eSports betting, though? There is a ton of teams, video games, and markets you can bet on.

How Can You Bet on esports?

The best way to bet on esports is to find a reputable and trustworthy sportsbook where you can place a bet on your favorite or the team you think is going to win the match.

According to LegalBet Canada, Bet99 is one of the best brands for eSports betting and a go-to place for many Canadian gamers. The sportsbook features competitive odds and allows you to bet on a variety of games—you can bet on Dota, CS:GO, Rocket League, Valorant, FIFA, and even hard-to-find games like Arena of Valor.

By signing up with Bet99, you can claim a 100% deposit match welcome up to $500. The bonus has an extremely generous wagering requirement of only 5X, and you will even have 30 days to clear the bonus after your first deposit.

The sportsbook has an iGaming Ontario license and is also partnered with the International Betting Integrity Association. In other words, Bet99 is safe, reputable, and trustworthy. In addition, it also has a wide range of payment options, a ton of markets you can bet on, and in-play betting, allowing you to bet on games in real time.

Of course, Bet99 is just one of many options. In case you would like to find a different sportsbook, there are several aspects you should pay close attention to.

An online license is one of the most important factors to consider when choosing a sportsbook. It is an excellent testament to any sportsbook’s reputation and ensures the sportsbook is safe, trustworthy, and adheres to the strict standards imposed by the regulating authority issuing the license.

Apart from that, find a sportsbook that offers a generous welcome bonus to help you get started and double-check if it has all the markets and games you want to bet on.

Lastly, make sure that the sportsbook has a good selection of payment methods, has fast withdrawal times, and is generally loved by the community.

The Bottom Line

Betting on eSports is extremely straightforward, and it is even easier if you have previously bet online.

Once you get familiar with the general layout of a sportsbook and have the betting markets down to a tee, the rest is just a matter of being familiar with the game and the teams you are betting on. Of course, you should always make sure that you gamble responsibly—take regular breaks from gambling, bet only the money you can afford to lose, and stay in control of your betting habits.

David Wojnicki
David Wojnicki
"He who licks knives will soon cut his tongue."
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