All you need to know about Esports Betting in 2020

1. All you need to know about Esports  Betting in 2020    Table of Contents  1. What is Esports?  2. What is Esports Betting and How does Esports Betting Work?  3. Scope Of Esports Betting Market  4. Perks of Esports Betting for Sports Betting Businesses  5. Diverse Esports Genres and Games  6. Major Esports Tournaments & Leagues  7. Diverse Ways to Bet on Esports  8. What Bettors Look for in Esports Websites  9. 5 Best Esports Betting Sites in 2020      We all have witnessed the wonders of the esports and the sports  betting industry. Within a short span of time, both industries have  witnessed massive and incredible growth. In the year 2018, the  esports industry had hit a mark of ​$1.43 billion​ and in the year 2017,  the sports betting industry had reached the number of ​$104.31​. In  addition to this, the sports betting industry is expected to grow by  $155.49​ by the end of 2024. But it doesn’t end here. Another aspect  that’s making all the headlines is that of esports betting.     Esports betting is still quite new but it has gained extensive  popularity just within a few years. Several sportsbook businesses  and sports betting websites are making the shift to render esports  betting services to punters. The COVID-19 Pandemic has contributed  to the growth of this bankable industry and most prominent online  sportsbooks have already introduced esports betting to their  platform and have started reaping the profits.     In this article, we’ll be covering everything you need to know about  esports betting, esports betting market, its benefits,  

2. how does esports betting works, esports genres, most popular  esports games, types of bets, etc. But before we dive in, let’s take a  look at the basics.      What is Esports?     Esports is short for Electronic Sports and it’s described as an  organized, competitive video gaming in which competitors and  teams from around the globe participate to compete with each  other to win huge cash prizes. Popular games are played in big  arenas and the event is witnessed by millions of fans and gamers.  Popular games with a huge fan following such as Fortnite,  Overwatch, StartCraft, Dota-2, Rocket League, Call of Duty,  Counter-Strike, League of Legends, etc are played and several live  streaming apps like Twitch, YouTube Gaming, Vimeo, etc are used  for watching the action live.     Esports events are followed and watched by millions of people all  around the world. According to ​Newzoo​, approximately 380 million  watch esports worldwide out of which, 165 million people are  frequent watchers and esports enthusiasts that belong to countries  like China, South Korea, and North America.     Now that we know what esports is, let’s understand what is esports  betting.     What is Esports Betting and How does Esports  Betting Work?     The world of video games is competitive in itself. Players compete to  win rewards, prizes, coins, upgrades, etc. And when money gets  involved, things get pretty serious.    

3. Esports betting has been one of the most talked-about topics in  2020. And more and more businesses have invested in the industry  this year to maximize profits.     Esports betting is almost similar to placing wagers on traditional  sports such as football, volleyball, basketball, hockey, horse racing,  etc. The odds are provided to the punters and after analyzing them,  bettors place bets on the teams they think will win. Punters usually  use diverse online sportsbooks for placing bets and since esports is  played by players present worldwide, the format of the odds vary.      Scope Of Esports Betting Market    Almost every industry has taken a hit by Covid-19. But there are few  industries that have remained unaffected and there are also some  that have witnessed immense growth. Esports betting is one industry  that has established itself as one of the most lucrative as well as  promising industries in the year 2020.     Esports betting market size has also seen a massive amplification.  According to ​marketsandmarkets.com​, in the year 2017, the industry  was worth around 694.2 million dollars and by the end of the year  2023, the industry is expected to grow by 2, 174.8 million dollars.     The main sources of revenue for esports betting include  sponsorships, merchandise, tickets, publisher fees, and  advertisements. The increasing awareness about the industry,  increasing viewership, and the huge prize pools are also contributing  to the growth of this advantageous industry.     Perks of Esports Betting for Sports Betting  Businesses   

4. Esports not only appeals to modern punters but also brings several  benefits for the sports betting platform owners as well. Below are  some of the benefits rendered by esports betting to the sports  betting sites.     Better Viewership  Esports already has a huge fan base. Millions of people attend live  events or watch live streaming and esports betting can effectively  boost viewership even more of the games. Punters who bet on  sports usually watch the whole event to know the results. Betting on  esports can help event organizers skyrocket viewerships as people  who will bet on esports will be also interested in watching the event.     More Deals and Sponsorships  Popular esports events not only attract more viewers but also better  deals and sponsorships. Sponsors look for events that are popular to  invest and offer better deals as marketable events give the sponsors  a better opportunity to reach audiences.      Bigger Prizes  Better sponsorship translates to bigger prize money, which means  better salaries of players and bigger prizes for winning teams which  eventually attracts more viewers.     Cryptocurrency-based Betting  Several punters prefer betting with cryptocurrencies as these cannot  be traced. This enables punters to protect their identity and also  helps platform owners maintain security.     Enhanced Engagement  Esports comes with diverse games with several stages, various  characters and so much more. Esports always have something to  offer which hooks the players as well as viewers. This not only  enables sports betting platform owners to reach more audiences but  also helps them enhance engagement.  

5.   Diverse Esports Genres and Games     There are five main genres in esports around which games are  designed. Below is a brief description of each genre.      FPS  FPS is short for first-person shooter games which include combat  games. The most famous FPS games include Counter-Strike Global  Offensive, Battlefield, Halo, and Overwatch.     MOBA  MOBA is short for the multiplayer online battle arena and involves  players grouped into teams, who compete against each other to win.  Some of the most famous MOBA games include Smite, Arena of  Valor, Strife, League of Legends, etc.     Casual Games  Casual games are designed for casual gamers and are easy to  understand and play. Players do not need much skills or experience  to play and win these games. Some of the most popular games  include Hearthstone, Clash Royale, etc.     Fighting Games  Fighting games include virtual combat. Some of the most popular  games include Mortal Kombat, Streetfighter, Tekken, Dragon Ball Z,  etc.     Sports simulation  Simulation games are more realistic and emphasize on realism.  Games might vary in this genre. Some of the most popular games  include Madden NFL 20, FIFA, Superball Mega Baseball 3, NBA 2K20.    Major Esports Tournaments & Leagues 

6.   Thousands of esports events, tournaments, and leagues take place  each year that attract millions of spectators to the stadiums. In the  year 2010, 700 esports tournaments took place and today, this  number has skyrocketed.     Below are some of the most thrilling as well as exciting tournaments  and leagues punters love to bet on.     The Overwatch League  The Overwatch League or OWL takes place from early January and  extends till the month of July. The league comprises 12 teams, 250  matches and 4 stages, which makes it an excellent choice for  betting. The event is witnessed by international audiences which also  brings in great sponsors.     Dota 2 - The International  The Dota-2 world championship is a 10-day long event that takes  place every year, typically in the month of August. The tournaments  are organized by Valve which is well-known for its huge prize pools.  In the tournament that was held in the year 2018, the total prize pool  was around $25.5 million. 18 teams from all around the world  participate in this tournament.     League Of Legends MSI  League of Legends MSI where MSI is short of mid-season invitational  is one of the most prominent League of Legends tournaments. This  tournament involves 14 strongest teams that compete with each  other. The tournament is known for opening doors to several betting  opportunities.     Cs:Go Eleague Major  Counter-Strike is one of the most loved esports around the world.  And so is the Counter-Strike Global Offensive world Championship.  The championship is organized by Valve and comprises 24 teams 

7. that compete with each other in 3 stages in two and a half  week-long events. The championship involves the tournament  winners, map winners as well as overall match winners which makes  Cs:Go esports betting an excellent choice.     League Of Legends World Championship  League of Legends world championship is one of the most-watched  championships which makes it ideal for esports betting. League of  Legends already has a huge fan following of around 100 million  monthly users. The event is organized by Riot games and the  tournament lasts around seven weeks. 24 teams compete against  each other for the huge prize pools and punters can place bets on  events such as the first team to kill Baron, the first team to  successfully destroy inhibitors, etc.     Diverse Ways to Bet on Esports    The best part about esports betting is that it gives punters plenty of  ways to place bets. Below are some of the diverse ways in which  bettors can place wagers.     Esports Real Money Betting  Esports real money betting is almost the same as traditional sports  bets. Just like bettors place wagers on traditional sports such as  football, basketball, volleyball, soccer, hockey, etc, punters place  bets on esports, Money bets are placed after analyzing the odds and  punters get paid if their prediction comes true.     Skin Betting  Skin betting is extremely popular among esports enthusiasts. Virtual  properties such as currencies, gears, weapons, etc are exchanged  between players and since these are considered highly valuable by  serious and committed players, these can be seen on trading sites or  auction websites as well. Several online platforms also allow punters 

8. to place wagers and use these properties for gambling, When  someone wins the bet, they acquire the property instead of money.     Challenge Betting   Challenge betting also goes by the name of the head to head  betting and gamers compete with one another for skins, money, or  virtual properties. The wagers get placed before the start of the  contest and conclude at the end of the game. Some of the online  platforms provide these services where games can enter by paying  the entry fee and challenging each other.     Social Betting  When punters start gambling in their own group which involves  friends or family, it’s known as social betting. This can involve either  real money or virtual properties.    What Bettors Look for in Esports Websites    There are some key parameters every gamer, every punter looks  for in an esports betting platform. Missing even one of these can  result in lost business. Below is the complete list of factors bettors  consider before opening an account on the esports betting platform.     Reliability   Getting a secure platform for punters and providing them a safe  environment is crucial for every betting business in the industry.  Platforms that earn the reputation of being unreliable lose  customers quickly whereas trustworthy platforms gain customers  through referrals.     Reputation  The second is reputation. Punters prefer platforms that are reputed  and popular. There are several esports betting sites that use  marketing methods such as affiliate marketing, content marketing, 

9. run social media campaigns, email, and mobile marketing  campaigns to boost their brand awareness and recognition.     Coverage of Tournaments and Events  Events and tournaments are the heart and soul of esports betting as  these attract massive viewership and also keep gamers and punters  engaged. Tournaments and events add to the excitement of gaming  and betting and bring more and more audiences to the platform.     Variety of Bets  Rendering several betting options not only gives punters several  choices but also allows amateur bettors to explore diverse styles of  betting and find the one that suits them.     Best-in-class Odds  Bettors read the odds and then place the wagers. Having  best-in-class odds on your website helps the punters on the platform  predict the outcome better.     Number of Payment Methods Available  Having the most popular payment gateway is not enough. It’s crucial  to render diverse as well as flexible payment options to the punters.  Bank transfers, debit cards, credit cards, diverse payment gateways,  etc are some of the most common payment methods found in the  online esports betting platforms. Apart from these, several  platforms have also moved to cryptocurrencies for increasing  security on the platform.      Quick WithDrawals  Winning is an exciting, thrilling, and fun experience, but waiting for  withdrawals can be a huge turn-off. Hence it’s vital for esports  betting platforms to provide quick withdrawals to punters. Quick  settlements boost the engagement of the punters and encourage  them to participate more.    

10. User-friendliness  Punters prefer platforms that are easy to understand and simple to  use. These factors help you not only attract but also retain bettors.  Clean design, clutter-free look, and easy navigation are critical  features of some of the most successful esport betting platforms on  the web.      Bonuses and Rewards  Last but not the least, bonuses and rewards. Bonuses and rewards  are a great way of acquiring new customers and maximizing  customer retention. Most esports betting sites provide loyalty  programs to their customers. Not only these help gamblers get  started but also help businesses promote themselves and expand  effectively.     Now that we have a clear understanding of esports betting, let’s  take a look at the 5 best esports betting sites.     5 Best Esports Betting Sites in 2020    Though almost every sport betting business seems to be moving  towards esports betting, there are only a few that sit on the top of  the list. Below is the list of 5 best esports betting sites that are  providing best-in-class esports betting experience to the users in  2020.     22 Bet   22 Bet belongs to Marikit Holdings Ltd and is one of the most  interactive sites on the web for esports betting. The website provides  several diverse options to betting as well as gaming communities  and various opportunities to place bets. The website attracts  customers with its lucrative welcome bonuses. The website offers a  122% matched deposit bonus to get new registrations started and 

11. also renders several deposit as well as withdrawal options to the  punters that make transactions easy.      GG Bet  Another name on the list is that of GG Bet that is known for its  best-in-class esports betting services, competitive odds, variety of  games, and free live streaming services. The website is licensed by  Malta Gaming Authority, consists of reliable customer support  teams, and consists of only reliable payment gateways. The website  allows punters to bet on some of the most loved esports such as  League of Legends, Dota-2, Counter-Strike, etc, and supports  diverse betting markets.     Bet365  Bet365 has not only made a name for itself in the sports betting  industry but is also ruling the esports betting industry. Established in  the year 2001 by Dennis Coates, Bet365 today is one of the most  reliable, trusted, and prominent betting services providers. Why do  punters love Bet365? New customers receive £100 on sign up to get  started. The website allows users to bet on popular esports such as  Overwatch, Dota-2, FIFA, WOW, Rainbow Six Siege, Hearthstone,  PUBG Smite, etc, and also supports several betting formats such as  pre-match betting, live betting, etc.      Mr. Green  There is no doubt that Mr. Green had humble beginnings, but today,  it’s one of the most comprehensive sportsbooks on the web. And to  stay ahead, Mr. Green was quick to include esports betting on the  platform. The platform gives punters plenty of games to place bets  on esports such as StarCraft-2, League of Legends, CS:GO, Dota-2,  etc, and also provides special offers that can be used for esports  betting. To ensure punters can access the platform, the website has  a mobile app and for easy payments, the website provides several  options such as Neteller, Skrill, Ideal, Bank transfers, Mastercard, and  more.   

12.   Betway  Betway is another name that has not only ruled the betting industry  but is also making headlines in the esports betting. Just like every  company on the list, Betway also supports popular games such as  CS:GO, League of Legends, Dota-2, StarCraft, and many more and  also supports diverse bet types which include outright, correct score,  Win/Draw/Win, Handicap, totals, etc. Betway also provides several  options for making deposits as well as withdrawals and also  provides Android as well as iOS applications for seamless esports  betting experience.     Looking for First-rate Esports Betting  Software?    We at ​GammaStack ​help businesses reach their goals by providing  them best-in-industry esports betting software solutions. Our  offerings include custom esports betting software development as  well as turnkey esports betting software services that enable the  business to render outstanding as well as an electrifying esports  betting experience to the customers.     In our 8+ years of iGaming industry experience, we have helped  several large, as well as small businesses, have enabled  entrepreneurs craft their dream solutions, have received awards and  recognition from several presenters around the world, and have  helped businesses expand their offerings and accelerate their  success.     Want to know more about us or our offerings? ​Contact us today​!