How Does eSports Betting Work?

When it comes to the greater betting public, eSports betting is quite the new concept, and if you dig deep into what encompasses eSports betting, a rather different scene emerges. Still, just about all forms of eSports betting are becoming big business in online circles, particularly because of the allure of the competitions themselves.

The eSports industry is huge and continues to grow. This year, Insider Intelligence reports that there will be over 26 million monthly eSports viewers, which shows an increase of over 11 percent on 2020 figures. So, it doesn’t come as a surprise that millions of eSports fans also take up the opportunity to bet on outcomes of matches, as millions of traditional sports fans do with the likes of football, basketball, and hockey.

So, just how does eSports betting work, and what do you need to know about it?

The different types of eSports betting

When people think of betting, they imagine someone staking a set amount of money on the outcome of a game or tournament. This is the most prevalent form of betting in eSports, with several major betting platforms creating eSports sections stuffed with odds. These range from the biggest tournaments like The International all the way to regional competitions in games like Counter-Strike: Global Offensive.

Still, there are other forms of eSports betting to be aware of that don’t operate as standard regulated gambling does online. Skin betting is the most prominent of these eSports betting offshoots, and it’s big. For the most part, as described by Parent Zone, these involve betting the skins purchased with real money on casino-like games. A similar form is challenge betting, in which virtual items can also be wagered head-to-head.

How do eSports odds work?

Early on, eSports struggled to gain legitimacy, but once the gambling industry did their checks to ensure that the games were fair and required skill, they decided to get on board. As they can judge player skill and team ability, the eSports betting sites can offer odds and betting tips esports that reflect the real-life occasion. It works very similarly to sports betting, but comes via more specialized platforms and providers.

To run eSports odds, betting websites turn to specialist platform providers like Pronet Gaming, who emphasize eSports betting alongside their traditional sportsbook. With their platform integrated, odds are provided, updated, and altered in-play by the platform's odds providers. These oddsmakers rely on a complex system of technical measurements such as historical data, trends, statistics, hero selection, and bettor backing to create and adjust odds for eSports matches.

As for the odds themselves, in the American style, you’ll either see them with a “+” or a “-“ in front of a number. For those with a minus sign, such as -1000, the larger the number is, the more favored that pick is to come in – but it also means that you’ll get a smaller return on your bet than if you placed with a plus-odds option. The odds with a plus in front of them, such as +250, become more unlikely – in the eyes of the oddsmakers – with larger numbers.

With eSports growing by the year, more websites are offering regulated eSports betting options. Even now, you can find odds for match outcomes, tournament outcomes, and even props on specific in-match or tournament award results.