The market for esports betting remains small compared to the traditional one. However, it is definitely more dynamic, offering lots of betting options to choose from.
Learn more about esports betting before you go any further. This will help you become more efficient in it.
What is esports betting?
Esports is a form of competition by means of video games. Esports betting is betting on esports tournaments. For example, you bet on the LoL Spring Championships at Mandalay Bay instead of NBA games. The principle of work remains unchanged.
How big is the sector of esports betting?
The world of esports keeps growing. Its revenue from 2021 is about to increase by 70% in 2022. The same goes for esports betting. An average esportsbook can make more than 500 million in one year. Sounds amazing, doesn't it?
Esports betting tries to cover more and more esports events, which increases the betting opportunities for average bettors. With a bigger variety, better income becomes possible.
Thanks to a growing audience, esportsbooks offer more attractive odds. It means that you can choose better odds and expect a higher profit upon success. Of course, you shouldn't jump into the very first esportsbook with solid odds. Check out the terms and conditions before making a decision.
How esports betting works?
Rapid growth for esportsbook betting has become the case over the last decade. This assertion can be explained by the development of technologies, including video games. Here are additional reasons standing behind it:
Just another sport: Esportsbooks have become a spot where esports events are put together. A wide range of systems and structures underpins the multi-billion dollar sports betting activities so they can cross-apply relatively smoothly to esports.
Attractive audience: The core esports fan is viewed as an attractive client for the traditional sportsbook – a young person with a stable income and a proven interest in gambling. The appeal of the audience makes esportsbooks invest heavily in esportsbook products and promote an attempt to take part in the competition for improving a demographic.
Cross-sell potential: While similarities to traditional sports betting can hardly be denied, it doesn't make sense to deny that esports betting also has a cross-sell potential to stick-and-ball sports betting. That may be a joke to you, but it isn't. If the trend of esports betting remains alive for a while, it will prove to be potentially valuable in a short- and long-term perspective. If you look carefully, you will see a massive push across various operators to develop an excellent place position in the vertical. And this makes esports betting what it is today.
Potential challenges to face on the way
Esports betting at https://askbettors.com/bookmakers/betnow/ offers a lot of perks. But it doesn't make it flawless. Some challenges may appear on the way. And it's in your very best interest to know about them.
Data problem - The low availability of reliable data from esports matches is surely dampening the perspective of esportsbook betting. Companies like Sportradar and BetGenius have recently introduced partial solutions on the data side. However, the industry still requires new solutions for expansion to be realized.
Pricing - When sharp bettors manage to beat pricing on traditional sports, the possibility of accurate pricing gets relatively difficult. This thing can be said about all esports betting activities, where a deep pool of available talents is absent.
Developer ambivalence - The relationship between gambling and game developers isn't always smooth. Both parties try to get the maximum out of the games and the related event. As a result, they put a bettor in a less favorable environment. This attitude encourages the data and pricing problems mentioned above. And it restricts endemic exposure opportunities for sports betting sites that cover esports.
As you can see, esports betting is full of positives and negatives. You should be aware of those before you register with an esportsbook and place your first bet. Act carefully when it comes to esports betting activities. Eventually, you will reach the desired level of success.
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