Bitcoin Esports: Everything You Should Know
Esports has reached success in the global arena over the years. Not only does it have a strong and active community, but it has also become a lucrative industry wherein pro players can win millions of dollars. The same can be said about esports betting. And as the popularity of betting on esports flourished, so did betting on Bitcoin esports.
Many online sportsbooks either have esports betting added to their offered markets or have a dedicated esports betting platform. Even better is that many of these gambling sites accept Bitcoin and other cryptocurrencies. The combination of esports betting and cryptocurrencies then gives bettors a new platform where they can both enjoy their favorite esports games and experience fast transactions, better security, and more transparency.
Bitcoin esports now enjoys high demand from the crypto gambling community. As a result, more and more Bitcoin casinos and sportsbooks now offer esports betting with Bitcoin.
Esports Betting vs Sports Betting
If you are familiar with Bitcoin sports betting, wagering on esports using the cryptocurrency will be easy for you. Your potential winnings depend on the odds of the selections. Esports bets also come in different formats, including decimal, fractional, and money-line. You can choose to wager on single or multiple selections in your bet slip. On the other hand, some gaming hubs allow you to combine your esports bets with bets on traditional sports.
Meanwhile, the standard betting markets are the same as those on traditional sports. Some common markets include match bets and tournament winner. There are also handicap wagers and over/under bets. But what makes esports betting exciting is that some betting markets depend on the type of sports you are betting on. FPS titles usually accept bets on the team with the most number of kills or which team drew first blood, among others.
How to Bet on Esports with Bitcoin
As mentioned above, esports betting does not differ much from sports betting. They both offer the same markets. What makes the esports betting stand out, however, is that bettors wager their bets on individual players or teams playing video games on a computer or a smartphone. Therefore, there is no reason for you to feel lost when making your first-ever bet on esports with crypto, especially if you have experience in online sports betting. But if this would be your first time placing wagers on esports, then here are the few easy steps to follow:
Step 1. Choose a Bitcoin esports betting site.
When choosing which esports betting site, always check for the following:
- Esports markets offered
- Betting options available
- Cryptocurrencies accepted
- Mobile optimization
- Security and transparency
This step is crucial as it will determine how your esports betting experience will be, so do check online sportsbook and casino reviews. Keep in mind that you want to have access to a broad range of esports tournaments, matches, and leagues. At the same time, being able to wager on pre-match bets, in-play bets, and prop bets is key to boosting your chances to score better wins. Also essential are the types of cryptocurrencies accepted, as well as the sites compatibility with mobile devices and its security.
Step 2. Choose the esports matches.
You can browse through different esports games like CS:GO, League of Legends, and Dota 2. Say you choose Dota 2 on Sportsbet.io, you would see upcoming matches for different competitions.
From there, you can choose which teams you would want to bet on based on their winning odds. Your knowledge in reading sports betting odds will be useful in this stage as the odds determine two things: the likelihood for that team to win the match and how much you will likely get should your bet wins. Selecting your preferred team or athlete will lead you to the bet slip. Once you confirm your bet slip, your bet will be counted.
5 Popular Games in Esports Betting
There are hundreds of esports available to stake your funds on. These are categorized into real-time strategy (RTS), first-person shooters (FPS), and multiplayer online battle arena (MOBA) titles. But if you are looking to wager on the most popular esports, here is what you need to know about them:
Counter-Strike: Global Offensive
Also known as CS:GO, the game is an FPS title that involves two teams fighting on various maps. One team has a mission, which usually involves rescuing a hostage or planting a bomb in an area. On the other hand, the other team’s task is simple: to stop the opposing group. In major competitions, CS:GO follows five-versus-five formats.
Released in 2013, the game involves two teams with five players, each with different characters and abilities. Simply put, one team wins when it reaches and takes over its enemy’s base. This straightforward gameplay, plus the rich details of the game’s universe, among others, turned Dota 2 into one of the most popular esports in the world. In fact, the franchise holds The International Dota 2 Championships, one of the major MOBA competitions in the world.
League of Legends
Often abbreviated as LoL, this game shares the same mechanics as Dota 2, combining elements of traditional role-playing video games and real-time strategy. There are two teams with five players each, with members possessing unique abilities. These teams then clash with the goal of destroying the enemy base.
Similar with CS:GO, Overwatch is an FPS game played with two teams with six players each. Unlike the former FPS title, though, the latter allows players to choose a role from a roster of nearly 30 characters (known as “heroes”). The team members then work together to fulfill missions such as securing and defending control points, or escorting a payload across a map for a certain amount of time. Players also receive character skins and victory poses, as well as cosmetic rewards that do not affect gameplay.
A follow-up to one of the earliest esports, the RTS is set in a futuristic world where players can choose to join one of three races: the human Terrans, the insectoid Zergs, and the humanoid Protoss. The goal, then, is to build a base and an army to wipe out the opposing player. Unlike other esports like Dota 2 and CS:GO, this title follows a one-versus-one format.
These five esports are almost always available for betting on major online sportsbooks. Moreover, new games appear regularly, so you will always get an updated list of esports betting markets.
Future of Bitcoin Esports with Blockchain
In the advent of blockchain technology, the Bitcoin esports sector is among the many iGaming markets that will benefit. Blockchain will decentralize the platform as well as the process. This move benefits tournament organizers, third-party mediators, and stakeholders.
Betting on esports with crypto will also improve as developers can begin creating decentralized apps (dApps) specifically for Bitcoin esports. Another is further strengthening the transparency and trust via smart contracts. And more importantly, bettors will experience convenience when handling payments and in-app purchases.
More possibilities await the Bitcoin esports betting industry as developers begin to explore how blockchain technology can reshape or improve the existing platforms and business models.
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There is no stopping the success of esports betting, even more so the rise of Bitcoin esports. Players should then keep a close eye on this sector for the changes and improvements in the future with the help from blockchain and other technologies.