Esports betting has become a popular trend that attracts both video game fans and those looking for new ways to make money. In recent years, this industry has grown significantly: tournaments with multi-million dollar prize pools and star players have made eSports interesting for investors and bettors. But is it worth trying to make money on eSports betting? Let’s look at the pros and cons of this activity, and also analyze the main risks and prospects.
Advantages of betting on eSports
A rapidly growing industry
Esports continues to grow at a rapid pace, attracting more and more attention from viewers and sponsors. This leads to an increase in the number of tournaments and teams, which expands the choice of events for betting. The more events, the more opportunities for bettors.
The ability to use analytics
Esports, like traditional sports, allows you to use statistics and analytics to make informed decisions. Players can study teams’ results, analyze their strategy, form, and previous encounters. This allows those deeply immersed in the industry to use their knowledge to create an advantage.
Variety of bets
Unlike traditional sports, eSports offers many unique types of bets, such as betting on the first kill (First Blood) in Dota 2 or on a victory on a specific map in Counter-Strike: Global Offensive. This opens up additional opportunities for those who are well versed in the specifics of the games.
Low entry threshold
Esports has a wide selection of games, tournaments and competitions, which allows even beginners to try their hand at betting without delving into the depths of professional sports. Initial bets can be minimal, which reduces the risks for those just starting out.
Risks and disadvantages
High volatility
As with other types of betting, betting on eSports is subject to a significant amount of randomness. Games can be unpredictable, and even the best-prepared teams can lose for reasons beyond their control. For example, in eSports, tactical errors, internet outages, or technical problems play a big role, making outcomes more unpredictable.
Little Data to Analyze
Unlike traditional sports like soccer or tennis, where data on athletes and teams has been collected for decades, eSports is still young. There is less statistical data and information for in-depth analysis, especially when it comes to new teams or games. This limits the ability to use advanced analytics.
Emotional Factor
Esports is characterized by high audience engagement, and for many fans, emotional attachment to teams or players can be a serious problem. Bettors can make irrational decisions based on their likes or preferences, which reduces objectivity and increases the likelihood of losing.
Risks of Addiction
Esports betting, like any gambling, can lead to gambling addiction. The constant desire to win back, belief in “luck” and emotional bets can lead to financial losses and psychological problems.
How to reduce risks?
Study teams and games
One of the main advantages of eSports betting is the opportunity for in-depth analysis. The more you know about a team, its players and strategy, the better your chances of making successful bets. Follow teams’ performances, study their playing style and react to changes in the lineup.
Use bankroll management strategies
Proper money management is the key to long-term success. Set an amount you are willing to lose and don’t exceed it, even if it seems like the bets are “sure to come in”. Place your bets with a cold calculation and don’t give in to emotions.
Assess your knowledge
Betting on eSports requires deep knowledge not only of the game itself, but also of the specifics of each tournament and team. Unless you are an expert in a particular game, it is best in that game.
Betting on esports can be a fun way to spend time and possibly make money if you are smart about it and think through your decisions carefully. However, it also carries significant risks, especially for those who aren not prepared to engage in deep analysis or are susceptible to gambling. It is important to remember that betting is not a stable source of income, but rather a way of entertainment with the possibility of both winning and losing.
Thus, if you are interested in eSports, follow tournaments and are ready to spend time on analysis, betting can become an interesting and profitable activity. However, if you are only attracted by quick profits, it is better not to consider betting as a serious source of income.
