Esports betting has become increasingly popular in recent years, as more and more people are looking to make money off of the competitive gaming scene. With the rise of esports tournaments and the increased focus on professional gaming, the betting industry has grown exponentially. But if you’re new to betting on esports, it can be difficult to know where to start. This comprehensive guide has everything that you need to know to get started on the right foot. From understanding the basics of e-sports bets to finding the best e-sports betting sites, this guide has it all. With the help of this guide, you’ll be betting on esports like a pro in no time!

What is E-sports

Esports, also known as electronic sports, are competitive video gaming competitions that take place both online and in person. Professional gamers from all over the world compete against each other in a variety of different games for prizes, fame, and glory. The most popular e-sports games include League of Legends, Dota 2, Counter-Strike: Global Offensive, Overwatch, and a variety of other titles.

Esports are broadcasted on various platforms such as Twitch, YouTube, and other streaming services. As a result, the viewership of esports tournaments has grown significantly over the years. In addition, the prize pools of esports tournaments have grown exponentially, with some tournaments offering millions of dollars in prize money. With the rise of esports, it’s no surprise that the betting industry has followed suit.

Different Esports Genres

Esports is a broad term that encompasses a variety of different game genres, each with its own unique rules and regulations. As a result, different betting opportunities are available depending on the game being played. The following are some of the most popular esports genres:

• Real-time strategy (RTS): 

These games involve players controlling armies or civilizations and commanding them to achieve their objectives. Games like Starcraft and Warcraft are popular examples of this genre.

• First-person shooters (FPS): 

These games involve players navigating through 3D environments and using weapons to eliminate enemies. Games like Counter-Strike and Call of Duty are popular examples of this genre.

• Multiplayer online battle arena (MOBA): 

These games involve players controlling characters in a team-based environment, with the aim of defeating the opposing team. Games like League of Legends and Dota 2 are popular examples of this genre.

• Fighting games: 

These games involve two players competing against each other in a virtual arena. Games like Street Fighter and Mortal Kombat are popular examples of this genre.

• Sports games: 

These games involve players simulating a variety of sports, such as football, basketball, and hockey. Games like FIFA and NBA2K are popular examples of this genre.

Types of E-sports Bets

Once you’ve selected the game you want to bet on, the next step is to determine how you want to place your bet. Esports betting offers a variety of different betting options for both seasoned and novice bettors alike. The most popular types of e-sports bets include:

• Moneyline bets

Moneyline bets are the simplest type of esports bet. In a money-line bet, the bettor simply chooses which team or player will win the match-up.

• Spread bets

Spread bets are a form of handicap betting. In a spread bet, the bettor can choose to either give or receive points in order to even out the odds of the match-up.

• Outright bets

Outright bets are bets placed on the outcome of an entire tournament or event, rather than just a single match.

• Prop bets

Prop bets are bets placed on specific outcomes or events that happen during a match. For example, a prop bet may be placed on which team will get the first kill in a match.

• Futures: 

This type of bet involves selecting the team or player you think will win a future event, such as the next major tournament.

When placing e-sports bets, it’s important to remember to set a budget and stick to it. This will help ensure that you don’t place bets that exceed your bankroll and will help you stay within your limits.

Understanding the Odds

Understanding the odds is a crucial part of betting on esports. All betting sites will offer odds on each match-up and event. The odds are presented in a decimal format, with the lower number being the favorite and the higher number being the underdog. For example, if a team has odds of 1.5, they are the favorite. If a team has odds of 2.5, they are the underdog.

The odds can also be presented in a fractional format, with the lower number being the favorite and the higher number being the underdog. For example, if a team has odds of 1/2, they are the favorite. If a team has odds of 3/4, they are the underdog.

Finding the Best Betting Sites

Finding the best e-sports betting sites can be a difficult task. There are a variety of factors to consider, such as the variety of betting markets offered, the types of bets accepted, the withdrawal fees, and the customer service.

It’s important to do your research and read reviews before signing up with any betting site. Make sure to compare the different sites and find one that offers the best terms and conditions for you. Additionally, it’s important to make sure that the site is licensed and regulated by a reputable organization.

Finally, it’s important to make sure that the betting site is secure and reliable. Check for encryption technology, data privacy policies, and other security measures. 

E-sports Betting Platforms

Once you’ve selected the type of bet you want to place, the next step is to find a betting platform. There are a variety of different platforms available, such as:

• Traditional sportsbooks: 

These are the most common type of betting platforms, offering a variety of betting options on a variety of sports, including esports.

• Esports-specific betting sites: 

These are platforms dedicated to esports betting, offering a variety of betting options on a variety of different esports genres.

• Cryptocurrency betting sites: 

These are platforms that use cryptocurrency as the primary currency and offer a variety of betting options on a variety of different esports genres.

When selecting a betting platform, it’s important to take into account the variety of betting options available, the fees associated with placing bets, the customer service offered, and the security measures in place.

Advantages of Betting on Esports

Esports betting can provide a variety of different benefits, such as:

• Increased engagement: 

Betting on esports can be an engaging way to follow your favorite teams and players.

• Increased knowledge: 

Betting on esports can help you gain a better understanding of the different strategies and tactics used in the various genres.

• Increased excitement: 

Betting on esports can make the matches more exciting, as you have the potential to win real money.

• Increased social interaction: 

Betting on esports can be an enjoyable way to interact with friends and family, as you can share tips and strategies and compare your picks.

Tips for Making Successful E-sports Bets

There are a few tips and tricks you can use to make sure you’re making successful e-sports bets.

1. Remember that betting on esports is just like betting on any other sport: you need to do your research. You should familiarize yourself with the teams playing, their track record, and the game they’re playing. This will give you a better understanding of the odds and which teams have the best chance of winning.
2. Pay attention to the types of bets you can make. There are a variety of bets you can make on esports, including win/loss bets, map bets, and even individual player performance bets. Knowing which kind of bet you want to make will help you to make more informed decisions and increase your chances of success.
3. Remember that betting on esports can be unpredictable. Even if you do your research, there’s always a chance that the unexpected will happen. That’s why it’s important to never bet more than you can afford to lose. If you can manage your bankroll responsibly and only bet what you can afford, you’ll be in a much better position to make successful bets.
4. Remember that betting on esports is a marathon, not a sprint. As with any form of gambling, it’s important to stay disciplined and patient. Don’t get too caught up in the moment and make rash bets – instead, take your time, do your research, and make informed decisions.

Strategies for Making Money from Betting on Esports

Now that you know some tips and tricks for making successful bets, it’s also important to know some strategies for making money from betting on esports. 

Focus on the long term

As with any form of gambling, it’s important to stay disciplined and patient. Don’t get too caught up in the moment and make rash bets – instead, take your time, do your research, and make informed decisions.

Focus on the markets you know

If you’re an avid esports fan, you know the teams and games better than anyone else and you can use this knowledge to your advantage. Focus on the games you know the most about and make sure to stay informed on any changes or updates to the teams you’re betting on.

Remember that betting on esports is still gambling

As such, it’s important to bet responsibly and within your means. You should never bet more than you can afford to lose and make sure to take a break from betting if you find yourself getting too caught up in the moment.

Diversify your bets

Don’t just focus on one team or one game – instead, spread your bets around and make sure to diversify your bets across different teams, tournaments, and games. This will help to reduce your risk and increase your chances of making money from betting.

Managing Your Bankroll

When it comes to betting on esports, it’s important to manage your bankroll carefully. This means setting a limit on how much you’re willing to spend on bets and sticking to it. It’s easy to get carried away when you’re betting on esports, so it’s important to set a budget and stick to it. This will help you avoid getting in too deep and losing too much money.

It’s also important to understand the odds of each bet you make. The odds can vary from tournament to tournament and from team to team, so it’s important to do your research and understand the odds before you place your bets. This will help ensure that you’re making informed decisions when it comes to betting.

Finally, it’s important to keep track of your winnings and losses. This will help you track your progress and understand where you may need to adjust your betting strategy. It’s also a good idea to keep track of any bonuses or promotions you receive from betting sites, as these can be a great way to increase your winnings.

Different Types of Esports Tournaments

Now that you know some tips and strategies for making money from betting on esports, it’s also important to understand the different types of esports tournaments. Each tournament type has its own rules and regulations, so it’s important to understand them before you make any bets.

• “LAN” tournament 

These tournaments are held in a physical location and feature some of the best teams in the world competing for a large cash prize.

• “Major” tournament

These tournaments are typically sponsored by major organizations and feature the best teams in the world competing for even larger prizes. They have a large prize pool and attract professional players from all over the world. These tournaments usually last for several days and can feature dozens of teams competing for the top prize.

• “Small” tournaments

They feature fewer teams and lower prize pools. These tournaments are a great way to get started in betting on esports, as they often feature smaller bets and less risk. They’re also a great way to learn the ropes and get a feel for the different types of bets available.

• “Online” tournaments

These tournaments are held online and feature teams competing for smaller cash prizes. These tournaments are often more accessible for new teams and players and can be a great way to get some experience in the esports scene.

• Daily fantasy esports tournaments

They feature teams made up of players from different games and different leagues. These tournaments are a great way to make smaller bets and still have the chance to win big.

No matter which type of tournament you’re betting on, it’s important to remember the tips and strategies outlined in this guide. By doing your research, managing your bankroll responsibly, and staying informed, you’ll be in a much better position to make successful bets on esports tournaments.

Common Mistakes to Avoid in Betting

Now that you know some tips for making successful esports bets, it’s also important to know some common mistakes to avoid so you don’t fall into any traps. 

• Don’t chase your losses

This means attempting to recoup any losses you’ve incurred by betting more money than you can afford. It’s important to remember that betting is a long game and you should never be tempted to chase your losses.

• Don’t bet on your favorite team

It’s easy to get caught up in the moment and bet on the team you know and love, but this can be a mistake. You should always bet with your head, not your heart, and make sure to objectively assess the teams before making any bets.

• Remember that betting on esports is still gambling 

As such, it’s important to bet responsibly and within your means. You should never bet more than you can afford to lose and make sure to take a break from betting if you find yourself getting too caught up in the moment.

• Remember that betting on esports is still relatively new

As such, the odds can sometimes be unpredictable and the markets can be volatile. That’s why it’s important to stay informed and research the teams and games before making any bets.

Risks and Responsible Gambling

While betting on esports can be an enjoyable experience, it’s important to remember that it can also be risky. It’s important to understand the risks associated with betting and to always gamble responsibly. This means setting a budget and sticking to it, only betting what you can afford to lose, and never chase losses. Additionally, it’s important to be aware of the signs of problem gambling, such as an inability to control spending, an inability to stop gambling, and an increase in financial problems. If you or someone you know is exhibiting these signs, it’s important to seek help immediately.

Tax Implications of Betting on Esports

It’s important to understand the tax implications of betting on esports before you get started. Depending on where you live, you may be required to pay taxes on any winnings you make from betting. It’s important to research your local tax laws to make sure you’re in compliance.

In addition, if you’re betting on tournaments with prize pools over a certain amount, you may need to report your winnings to the IRS. This is true even if you don’t live in the US. It’s important to understand the tax laws before you get started to make sure you’re compliant.

Cash-Out Options for Esports

Once you’ve placed your bets and the matches have been completed, the next step is to cash out your winnings. This can be done through a variety of different cash-out options, such as:

• Bank transfers: 

This is the most common cash-out option, allowing you to transfer your winnings directly to your bank account.

• Cryptocurrency withdrawals: 

This is a popular cash-out option for those who are using cryptocurrency as the primary currency on their betting platform.

• E-wallets: 

This is a popular cash-out option, as it allows you to transfer your winnings to a variety of different e-wallets, such as PayPal and Skrill.

When cashing out your winnings, it’s important to take into account the fees associated with each option, as well as the processing time. This will help ensure that you get your winnings as quickly and efficiently as possible.

Conclusion

Esports betting can be an exciting and profitable experience if you know what you’re doing. With the advent of esports tournaments, there has been an increasing interest in betting on the outcome of these competitions. To stay ahead of the game, it’s important to understand the basics of betting on esports, from the types of bets available to the different esports genres. This guide has given you all the information you need to make informed decisions when betting on esports. You’ve learned about the different esports genres and the betting options available, as well as tips and strategies to ensure you make the most of your betting experience.