All you need to know about eSport betting
Esports betting has exploded and is expanding fast, maybe even faster than eSport itself. What was once an informal wagering system carried out primarily between friends, acquaintances and shady betting sites is rapidly sprouting into an industry in which millions of players from nearly every corner of the word risk hundreds of millions of dollars annually.
Naturally, with this rapid growth, there is a lot of uncertainty amongst people that are interested in betting on eSports. Even if you are quite familiar with the game being played, you may still have a completely new side to explore, that side being betting on eSport.
We on wheretoplay.org are going to answer a lot of the basic questions and concerns that a typical bettor may have before placing a bet/guessing the outcome on eSport. Please do not hesitate to contact us with suggestions about additional information or questions and opinions on the facts written down below.
What should I look for in an esports sportsbook?
We think you should ask some fundamental questions before choosing an online sportsbook for eSport betting:
- Can I trust the site?
- How good are their betting odds/sportsbook margin?
- What is their promotional value?
- What types of bets can I place on different esports matches?
- Can I trust the sportsbook?
How do you know if a sportsbook is trustworthy or not?
- The first step is the regulation test. Which legal authority has issued the online sportsbook license? This information can usually be found in the sportsbook website footer. When you don’t recognize the legal authority, its time to do some research. If players have had issues with sites that are regulated under a specific legal authority it’s easy to uncover, you simply need to Google it. What legal authority has licensed other sites? If you already are familiar with big online gambling brands, under what legal authority are they licensed? Always compare sites and if you want to be 100% sure use one of our liked sites.
- The second is social proof testing. What do real people have to say about the site in reviews and social media? In terms of social media accounts and customer support, what kind of availability and accessibility does the site offer? Generally speaking, you can tell the difference between a credible, active site and a bad site by looking at these simple elements.
- The third one is the experience test. Start small at a sportsbook that went through the first two steps. Make a minimum deposit and place minimum bets. If you have any questions or issues, ask the support and assess the response quality and sincerity. If the experience isn’t what you expected, there are a lot of other operators that would be happy to have your business.
How good are the odds for esports?
In almost every online sportsbook, the odds on a given match will be different. The first thing you would want to do is look around to determine which sportsbook tends to offer the best odds.
What value do you get?
Odds and sportsbook margins are only one part of the equation to get the best value for an esports bet. Sites offer a variety of promotions and bonuses to players, especially new players, that can improve your payouts.
Three of the most common promotional deals to be aware of:
- Deposit bonuses.
- VIP and cashback programs.
- Free bets.
What kind of bets can I place on esports?
The quality and quantity of available bets on eSports vary considerably from sportsbook to sportsbook.
Match betting (betting on the outcome of a match or wider events) is the most dominant form of betting right now. But some of the leading sportsbooks in this niche, including regular big sportsbooks, are experimenting with “live” betting or “in-play” betting. These bets are offered and made while the matches are being played.
Is betting on eSports legal?
This is a complex question that is impossible to give a general answer to that involves everyone. The important thing to remember is that as a better you are answerable to your jurisdiction’s laws and regulations.
If a particular type of sports betting where you are located is not legal, then the same is likely to apply to bets on eSports.
Who regulates esports betting?
There is no central regulatory body for eSports like FIFA for soccer at the moment, although there are a number of leagues and entities that cooperate to varying degrees.
As eSports grow, it is likely that we will see the development of a single, overarching regulatory structure, although it has to cross some huge global barriers. So no FIFA structure for eSport as a whole in the nearest future.
When it comes to regulation of betting sites, the answer varies by all the sites. The sites are regulated by the legal authority within they are located. There are several licensing hubs for online gambling, some of the most popular are the UK and the Isle of Man. But some countries or regions have their own licensing authorities. For example, online gambling is not allowed in all states in the USA and in Sweden, only the operators that have Swedish license are able to provide online gambling to the Swedes.
How old do I have to be to bet on esports?
Although no universal answer exists because the minimum age for gambling varies within different jurisdictions. The most common minimum age is that of 18 years. Sometimes sites can set a minimum age that is more strict than the local minimum age.