Betting is one of the oldest ‘professions’ in the world, as competition has always existed. From the times of cavemen till now, the modern man, we have observed gambling, betting and wagering.
We can see that the statistical graph of betting has increased sharply, especially with the advent of the internet and public availability of betting services right at your fingertips.
There are many betting websites and companies which can facilitate your need for betting, here is a list of the top ten betting websites/services on the internet.
Video games have existed since before the internet, and nobody paid any mind to their potential as being a massive betting stream. As of recently, video games have become an entry-level betting market and have gained massive popularity among gamers and betting enthusiasts alike.
Especially with the rise of e-sports and with big brands being involved, betting in e-sports is gaining massive ground. Many services which provide betting in e-sport events and games like (link), let users to bet using their virtual items, cash, bitcoin or via PayPal.
What betting has brought to the e-sports market is not only an increase in popularity of the involved games but has also affected the size of the tournaments. We have also observed an increase in players who want to pursue e-sports as their career of choice.
The biggest E-sports tournaments
There have been several media-grade international DotA 2, CS: GO, LoL tournaments, and countless small scale ones. Betting on these e-sports tournaments has been immensely popular and hundreds of thousands of dollars’ worth of virtual goods and bitcoins are exchanged.
The biggest tournament to have ever happened in e-sports history was ‘The International 2016’ tournament which had a 20.7 million dollar prize pool, a 5 million dollar ‘LoL 2016 world Championship’ and a 2 million dollar “WESG 2016” CS: Go tournament.
This insures that with more years passing, e-sports is turning into a fast-growing multi-million dollar industry with many major media services such as Twitch, YouTube etc covering the events live and major companies such as Intel, AMD, NVidia Sponsoring players and events as well.
Rise of E-sports Betting
What truly made betting a mainstream thing was probably the games DotA 2 and Counter-Strike: Global Offensive or CS:GO . Since both these games have an array of player-purchasable virtual set of items that are not only worth hundreds of dollars but many items also have a non-fluctuating market value.
Combined with the increase in steam users and the popularity of the community market on steam, these virtual items have about an equal worth in physical cash as they do as virtual currency. Back in 2015, valve had made hundreds of millions of dollars from the community market alone, making it certain that value of these virtual items will remain.
2016 bar on E-Sport Betting valve
Even though, e-sports betting has been going on for many years till the betting ‘ban’ by valve back in 2016, in which many websites using Valve’s OpenID API were given an ultimatum to change their system or face a shutdown.
Many websites actually went under the truck after this decision but a lot changed their betting structure, to allow using bitcoin as the currency for betting and to opt out of using Valve API to accept trades/items.
Even though this may be considered a ‘hit’ towards the e-sports betting scene, it can also be considered a good thing, as it moved e-sports betting to a new, progressive era.
How to get into E-Sports betting
Even though Valve has sanctioned major websites from using their Steam API, you can still bet on games and events by using these services (Link), they accept your bets from Bitcoin, PayPal, Credit Cards and Cash.
All you have to do is simply go onto the websites, and place your bet on a certain team just like you would do in any other betting sites. Getting some research done beforehand is a great idea when it comes to e-sports betting, and odds just like in other sports betting fluctuate depending on players and teams playing.
If you’re unsure on how to get into e-sports betting and where to get advice from here is a guide (link)
Arguably, e-sports betting has taken steps in becoming a major betting medium, from an arguably childish transfer of skins, to virtual currencies like Bitcoin and even cash by using PayPal or credit cards.
If you want to get into e-sports betting, this is the perfect time to get into it, there is a lot of money to be made, especially since the industry it is still it is a long way from becoming as well-adopted as the conventional Sports/even betting.