11th Dec2019

The Rise of Money in Esports

by James Smith

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In 2019, Esports are bigger than ever. As more people all over the world tune in to watch professional video game tournaments, the number of people who want to bet on these games increases. After all, it is estimated that bettors will place $8 billion in wagers on these events just this year!

Online casino sites like Gclub always have offered easy gaming online. But how did the video game betting pastime become so popular? We’re here to tell you about the rise of gambling in Esports.

From Humble Beginnings

People have played video games with each other since this form of media was invented. As more people logged onto the internet, they were able to game with each other online and compete.

In 2013 and 2014, gamers began to bet with casino chips on their games. They would exchange “skins” or other in-game currency to make their wagers. They would bet on popular games like League of Legends, DOTA 2, and Counter Strike: Global Offensive.

Since this early gambling was unregulated, even underage people would bet on the tournaments. This illegal market climbed to $5 billion in total wagers. Eventually, a lawsuit with Valve attempted to shut down this illegal gambling.

A Regulated Market

Unregulated gambling websites were faster and easier to maintain than regular ones. It was difficult at first for the gaming community to transition to legal gambling websites for Esports. Before the illegal websites were shut down, the amount they made was double the amount made by legal gambling sites. However, Esports needed to be regulated.

Monitoring the market of gamblers helped legal host websites capitalize on Esports. Companies began to sponsor popular gamers and effectively get more people to watch organized tournaments.

How It Works

Today, gambling in Esports consists of two categories: skin betting and cash betting. The skin betting resembles the hobby’s earliest days, where people would trade in-game items and outfits as wagers.

Of course, cash gambling should be the most familiar to people who like to gamble. Bettors who use cash most often use three types of ways to wager:

  • eSportsbook, which is similar to traditional sports betting.
  • Fantasy Esports, where players can make an imagined league and place fake bets on their team.
  • Head-to-Head, where players bet on the outcome of matches that they play against other people.

Most people participate in the eSportsbook style of gambling. However, the market may shift to fantasy and head-to-head matches in the future.

In Conclusion

Esports will continue to grow and become a popular hobby for many people who love video games and gambling. It has a rich history that will further influence how people wager on games today.

If you find yourself interested in this scene, a good way to start is to find a game you like. This will help motivate you to learn the rules and start placing wagers. You can easily find a betting website online, or you can begin a league with your real-world friends. Either way, you can benefit from participating in this growing market by simply joining this community.
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