Esports is gaining traction among gamers and young bettors. Many betting sites are now incorporating esports wagering alongside the traditional sports and casino games.
If you enjoy video games or have a knack for participating into different forms of upcoming betting opportunities, then esports wagering is for you. Esports betting will appeal to you especially if you are a gamer as it allows you to gamble on games like Dota 2, Call of Duty, League of Legends, Fortnite and Overwatch.
Now, if you are a bettor who regularly gambles on sports or plays casino games online, you might be interested in knowing how exactly does esports wagering works. In comparison to casino games and sports betting and lotteries, esports betting has both its pros and cons.
We will cover both, but first, we will start by taking a closer look at how sports betting works. Further on, we will see how it is compared to other forms of gambling.
Basics of Esports Betting
There is not much of a difference to notice if you are already a gambler who is regularly betting on sports. Esports betting also involves the odds and wagers of the same type.
Speaking of the odds, there are mainly three types that you will find on esports betting websites: American Odds, Decimal Odds and Fractional Odds. While the common types of esports bet include Moneylines, Prop Bets, Totals (over/under) and Outrights.
Of these, the American Odds and Moneyline bets are the most common types that you will find on esports betting sites.
Let’s have a look at a DOTA Moneyline:
Team Authentic +145
Speed Gaming -175
As speed gaming is a favourite in DOTA you do not have much of a profit line when you win. Therefore, for every $175 you wager, you stand to win $100. But if you choose to bet on the underdog Team Authentic, then you can win $145 for every $100 you bet.
Prop bets are not concerned with the outcome of a game. You can bet on events that will occur during the game. For instance, during a CS: GO match you can wager on which team will draw blood first.
Totals in esports betting are based on the total combined score of a team will be over or under a given line. For example, on an LoL match, you can wager on whether a team will finish over or under 2.5 games.
Outright esports bets are comparatively simple where you just pick a team to win an entire tournament. You have a higher chance of earning a huge payout with outrights provided you are choosing one squad from the entire field.
What makes esports betting so much lucrative is that you actually have an opportunity to win long-term profits at a higher probability as compared to other sports.
All you need to focus on is how to beat the odds and juice by winning often enough.
We know you might think this is not an easy option, but believe us with esports betting once you get hang of it, the possibility of remaining profitable in long-term is high. All you need to do is to put in efforts to study the teams, players and games.
You will also have to learn how to properly handicap esports matches and most importantly how to manage your bankroll. There are some important virtues of esports betting that we have already discussed in detailed. Check out the esports betting guide for beginners.
Once you get familiar enough with the world of esports betting and start turning profitable regularly, you can start looking for opportunities for increasing your profits and wager size.
This is the basic of esports betting, now it’s time to move on to the comparison.
Esports Betting vs. Slot Machines
Of all casino games, the slot machines are the most basic.
All you have to do is to insert your funds into the machine or make an online deposit and start spinning the reels. This simplicity of betting with slots made them a global phenomenon. Most gamblers chase slot machines as they don’t involve much of a strategy.
That being said, you can still improve your chances of winning by looking for games that offer a high return to player or RTP.
RTP is an indication of how much a bettor can win over the long run with slot machines. For example, a game with 90% RTP will make you $90 for every $100 you wager on average.
Finding the RTP of most online slots is easier, all you have to do is Google “(game name) RTP.”
But for land-based slots, there is no uniform payback and different casinos offer you a different payback. Whatever the RTP offered, there is not a strategy involved when you bet with slots, all you have to do is spin the reel and then you are left at the mercy of the random number generator (RNG).
As the RNG cycles are not the same every time and the various combinations are used to deliver random results, you have no chance to “time up” spins to win more.
So compared to esports betting, slot machines are different due to the strategy element which is a must for esports. In esports betting, you can easily handicap a game by learning more about different teams and games.
Slots, on the other hand, are more based on luck which is why you do not have any control over the outcome.
Esports vs. Table Games
Casino table games are many and they differ from each other based on the rules and skill levels required. Roulette, for example, is a game that is a pure chance as you are betting on a spinning wheel with no control over the outcome.
Blackjack, on the contrary, is a whole different game which requires a good deal of strategy to win. You have an opportunity to make correct decisions and earn more.
To know how the esports betting differs from table games, we need to consider exactly which table game are we talking about.
Blackjack matches closely to esports as there is plenty of strategies involved.
Roulette is completely opposite to esports betting as it is entirely based on luck and involves a wheel.
Assuming that you like strategic table games like blackjack, Caribbean and three-card poker, you will appreciate the complexity of esports betting as it requires the same level of strategy.
Esports vs. Poker
Of all the casino games, poker is the most strategic as it involves playing against other gamblers and making an adjustment to your play based on their playing styles.
There are many variations of poker played all over the world, but the most popular is the no-limit Texas Hold’em. Every game starts with each hand receiving two hole cards. The end goal is to form the best hand possible by combining the two hole cards with five community cards (a.k.a. board).
Over the years, poker strategies have become more and more complex. Most of the progress this casino game made was during the mid-2000s that not only brought in new players but ideas as well to the community.
Today, if you want to learn poker you can watch pros on Twitch, learn from YouTube videos, subscribe to training sites, hire a coach and much more.
The amount of hard work you need to put in depends on the type of poker and the stakes you are rooting to win. You will have a much easier time winning the micro stakes as compared to $25/$50 no-limit games.
Poker and esports share a lot of similarity in regards that both require a great deal of work and discipline. Both the gambling options allow you to be long-term successful. As bookmakers take a small cut from you in the form of the vig. Poker rooms collect rake from the tournaments.
The major difference between the two is that esports betting involves wagering online with bookmakers, while poker brings you face-to-face with other competing fellow players.
Esports Betting vs. Sports Betting
Out of all the types of wagers listed here, sports betting is the closest match to the esports betting. As we mentioned at the beginning both use the same type of odds and wagers.
You will find the same American, Decimal and Fractional odds used at sportsbooks and similar types of bets being offered that include moneylines, totals, and prop bets.
When we discuss strategy then also these two betting types match.
To be a long-term success with esports as well as sports betting you will have to learn about handicapping and bankroll management. You also have to train to be able to find favourable odds to win as a sports bettor.
One difference between the two is point spreads that are much common in sports betting. In a point spread, you bet on a team to cover a specific amount of points rather than winning the content.
Another difference is sports betting is massively popular as compared to esports betting. People have wagered on sports since the beginning of the time.
This is why many gamblers find it comfortable to sports bet but esports betting seems complicated to them.
But esports betting is now gaining momentum year-by-year and it is assumed that by the next decade esports will be a significant part of the bookmaking industry.
Esports vs. Lotteries
Among the masses, lotteries remain the most popular form of gambling and people buy lottery tickets every week.
One of the distinguishing factors of the lottery industry is that it consistently features the lowest RTP in the gambling world. The biggest lotteries offer only 50% payback which is awful compared to other gambling types.
The thing is most people who buy lotteries do not care about low RTP, they want to win the jackpots that can be worth millions. Obviously, the probability of hitting a massive jackpot remains extremely low, still many people keep dreaming big and wager on lotteries.
Esports betting is quite different where you do not buy tickets and chase jackpots, instead, you bet on smaller matches for even smaller winnings.
The only similarity between the two is both offers outrights and prop bets with long odds.
Esports betting is similar to some forms of gambling, while it is entirely different from others. The closest match is the sports betting because both feature the same odds and bets.
As many online sportsbooks now offer esports betting, you will have no problem getting around esports wagering if you are comfortable with sports betting and like video games too.