Sports betting and esports betting may sound like the same thing, but they are quite different. Still, they can help you earn some extra cash if you know how to do it right.
With esports betting, you are betting on professional video gamers competing in tournaments for big prize pools. This betting type is growing in popularity as more and more people have become interested in watching competitive gaming.
Regular sports betting is simply betting on the outcome of a traditional sporting event, such as a football match or a horse race. This betting type has been around for centuries and is still incredibly popular today. Here are five key differences to know about esports betting and sports betting.
Odds
The key to winning at any kind of gambling is knowing how to calculate your chances of success. The odds in esports events are much more predictable than in traditional sports matches.
For example, there could be as many as 50 variables that affect the game’s outcome in a typical football match. Even if you had months to research each team and its players, you would still be unable to predict the outcome with 100% certainty.
On the other hand, esports usually only have a handful of factors that can affect the outcome of a match, making it much easier to calculate your odds and make informed bets. It’s one of the main reasons why esports betting is becoming so popular, and it’s something that you should consider if you’re looking to make some extra money.
Rules
While odds may be easier to predict, the rules of esport games are generally much more complicated than those of traditional sports. Of course, not all games are the same and it is true that some are quite straightforward. In CS:GO, for instance, two teams just compete in defending and attacking an objective while shooting each other doing so.
But, then you also have games like Dota 2 where the inexperienced would have no idea what’s going on. There are more than a hundred different characters that have several unique abilities. Not to mention a ton of other game mechanics that make the game even more complicated, such as 200 equipable items.
Most traditional sports are much simpler. In soccer, players kick a ball and try to get it into the other team’s goal. This is similar to Rocket League. Of course, there are certain rules which you wouldn’t know about at first, such as offside, but compared to esports, those are very easy to learn.
Bets
Traditional sports betting is often enjoyed by placing bets on multiple different matches at once and combining them in order to boost odds. For example, you might place a bet on three greyhound races today, in which case all three of those games need to be correct for you to win.
On the other hand, esports betting is usually best enjoyed when you narrow down your focus to just a few leagues and matches, allowing you to do more in-depth research into each team and its players. This is because of esports more complicated format which we touched on above.
For instance, in a big tournament, by focusing on just a few games instead of every single one, you can avoid making rash decisions that would lose you money in the long run.
History
Sports betting has been around for centuries, while esports betting is relatively new. There is much less information available about upcoming esports tournaments than traditional sporting events.
Hence, this can make it difficult to place accurate bets if you don’t have access to the right sources of information. For instance, if a team is playing multiple tournaments and are traveling a lot, they may be worn out or they may be on top of their game because of all the practice. Similarly, a team that hasn’t been playing at all for a long time may be out of shape.
Remember that the more equipped you are as a bettor, the more likely you will place successful wagers.
Prize Pools
The size of prize pools for esports and traditional sports varies greatly. It is not uncommon for prize pools to reach a million or even a couple of million dollars in major esports tournaments. However, the prize pools for traditional sports are generally much more significant. In Formula 1 we’re talking about hundreds of millions and in UEFA even over a billion.
The obvious reason for this difference is that the sports industry has been around for much longer and is much larger than the esports industry. More people enjoy traditional sports and bet on it, which means more sponsors and more money flowing in and out of the industry.
While there has been an increase in interest in esports over the past few years, it still doesn’t compare to traditional sports. However, this could soon change as the esports industry continues to grow with people becoming more and more digital.
Indications of this happening include the prize pool in the Dota 2 world championship which has been growing every year and reached over $40 million in last year’s tournament. This is absolutely huge in eSport standards even if it isn’t close to top prize pools in traditional sports.
For sure, it will be interesting to see how the prize pools for esports tournaments continue to grow in the future. Will they eventually catch up to or even surpass those for traditional sports? Only time will tell.
Takeaway
In conclusion, sports betting and esports betting are very different activities. But they both have the potential to put some extra cash in your pocket if you know what you’re doing.
If you want to start esports betting, you should do plenty of research beforehand. Check out recent tournaments, learn the rules of the game, and get to know the players. Once you feel ready, make your first bet on an esports tournament or two and see how it goes. Just don’t have too high expectations. Making money from any kind of betting is not easy.
