Esports betting is one of the newest segments in online betting that revolutionized the entire betting industry. This category of online betting also has the highest upward momentum increasing its popularity every year.
In 2020, the global eSports gambling revenue was $14 billion and experts predict that by 2027, the market size of eSports gambling will reach a whopping $207 billion passing other more popular betting options at the moment which will make it one of the most popular betting option on the market.
ESports features a variety of games where professional players compete against each other, and people bet on the outcome.
This new betting segment is very attractive to the younger generation who are familiar with such games. That is why popular websites like Bovada.lv already offer eSports in their sportsbook.
However, making money through eSports betting still requires knowledge, skills, and strategy. Let’s highlight some of the most important things you need to consider before jumping into eSports betting.
Choose a Specific Type of Games
The best thing about the eSports industry is the variety of games. However, this can negatively affect your betting strategy if you switch through different games.
As a beginner, you need to understand that there are different categories of games played professionally that people can bet on. Each category of games requires different knowledge, skills, and understanding.
The most popular genres in eSports betting are First-person Shooters (FPS) and MOBAs (Multiplayer online battles), but you can also try some of the less popular categories.
Each category represents a different sport, just like in real life. For example, betting on football and basketball is not the same, which is also the same for betting on FPS and MOBA games.
Learn More About the Game
If you are interested in eSports betting, chances are that you’ve already shared some kind of passion for games, and you probably already played most of them. Understanding how the game works, and the strategies that the teams use can be very beneficial when placing bets.
So, before placing any bets on eSports, you should dig deeper and learn more about the game. You don’t have to become a pro, but watching videos of how professional players play the game might help you win more money when betting.
Get Comfortable with the eSports Betting Jargon
After arming yourself with knowledge about the game, it is time to get familiar with the eSports betting jargon. Things like comparing odds, specials, exploiting bonuses, and choosing specific bets, might require some eSports betting knowledge since it is very different compared to traditional sports.
Learn more about specific types of bets and what they mean, all the wording that comes with every game that might unveil a new betting chance to take advantage of.
Additionally, you should also learn more about the professional teams that compete in eSports. This is actually one of the most important factors when it comes to eSports betting since the outcome heavily depends on the players’ skills.
Look for the Biggest eSports Betting Value
As we mentioned before, there are plenty of betting options to choose from for each game. This gives bettors the freedom to choose bets that offer the biggest value.
This segment is more advanced and you shouldn’t expect to notice such bets from the beginning.
However, as you get familiar with the game and its betting options, you’ll start to develop a sense of where you can balance the risk and the reward for getting the maximum value out of every bet.
Basically, your job should be picking the right bets that offer the greatest return. So, instead of placing money on a team winning the match, you can find a specific bet that can have a greater return with a similar risk involved.
Try Not to Overthink Your Bets
There is a big difference between doing extensive research, comparing all relative stats, planning your bets, and overthinking your bets which can only make things more complicated.
Overthinking your bets can negatively affect your betting strategy by making you counter them. With that said, it is a good idea to set a lock system that won’t allow you to go back to change your bets once they are already made.
You should still do the research necessary for coming up with a betting strategy, but try to simplify the process without second-guessing that can make you paranoid.
Even though eSports is completely different from traditional sports, the secret of any betting success relies on the same principles. Since you cannot impact the outcome of a game, your only way for improving your winning chances is by making smarter bets and managing your budget.
Bankroll management is really important when it comes to eSports betting. The goal here is to create a budget strategy that will help you stay on track with every betting decision.
The proper bankroll management depends on your specific strategy. With that said, try to set limits to daily bets, avoid chasing losses, and set profit goals that should indicate that you walk away.
Managing your budget is the only way to create a profitable long-term strategy in eSports betting.