Esports betting entails placing bets on events that occur in-game, from simple bets on competition winners to more complex prop bets involving specific interactions within a game.
Esports gambling operators benefit from having instantaneous access to game data, giving them the chance to create a superior betting experience for customers.
1. It is a form of entertainment
Esports betting is an engaging new form of entertainment, attracting an ever-younger demographic. Yet its prevalence raises concerns regarding gambling addiction and responsible gaming practices – not to mention unique challenges for bookmakers and betters alike.
Esports differ significantly from traditional sports in that they require greater complexity and skill to play successfully, not being as easily modelled by algorithms; therefore there remains the chance for those with deep knowledge of a game to beat oddsmakers and earn money through betting strategies.
Regulators worldwide have taken notice of esports betting’s rapid expansion, as it represents a new form of gambling that must be strictly regulated to protect consumers and ensure fair play. A number of states have legalized it with new legislation or interpretations in order to protect consumer protection and fair play; many even offering professional leagues dedicated to betting esports competitions as an avenue for wagering on competitive esports competitions.
2. It is a form of gambling
Esports betting sites allow users to wager money on various esports games. Furthermore, these betting sites often offer bonuses and promotions tailored to gamers and esports fans that include free bets, match up bonuses and cashback offers designed to attract more customers and boost gambling activity.
Esports betting allows gambling operators to receive official rights-held data instantly, eliminating the delays found with traditional sports betting. Real-time reporting also enables esports bettors to place bets on numerous events at once.
This study conducted an in-depth comparison between regular adult esports bettors and traditional sports bettors on demographics, gambling behavior and levels of problem gambling and harm. Esports bettors tended to be younger, male, university educated and employed than traditional sports bettors and more likely to engage in traditional forms of gambling such as Australian lottery, horse or greyhound race betting and buying scratch tickets than their sports-betting counterparts.
3. It is a source of revenue
Esports betting provides gambling operators’s a new source of revenue, as it enables fans to place bets on events more easily than is possible with traditional sports. For instance, betting on who will win the next point can take several seconds until an umpire presses the button that updates the scoreboard; with esports data instantly transmitted.
Researchers conducted an Australian study comparing 298 regular esports bettors to 300 sports bettors, finding that esports bettors engaged more frequently with money forms of gambling than their sports betting counterparts and were significantly more likely to meet criteria for problem gambling and experience harm from it than sports bettors. They speculate that this finding might partly be explained by increased exposure among young video gamers to gambling products; however, more research should be undertaken into this theory.
4. It is a form of competition
Esports betting provides players with a new form of competition that encourages them to strive to defeat their opponents and win money. This form of rivalry keeps players engaged and interested in the game while encouraging them to improve their skills and tactics for a greater chance at victory.
ESports betting has quickly grown increasingly popular among young people due to several factors, including an increase in available platforms and social media advertising campaigns that utilize humorous content, memes and insider knowledge to draw in younger demographics.
There have only been a handful of studies which have investigated gambling motivations in esports betting. These investigations compared demographics of esports bettors with sports bettors as well as gambling habits and problems and harms. Furthermore, these investigations found that esports bettors are more likely to engage in gambling than their sports-betting counterparts and more likely to possess university education, be employed and speak a non-English home language at home than sports bettors.
