How Esports Bitcoin Betting Has Changed Digital Landscape
By Space Coast Daily // March 14, 2023
The Esports audience has grown at an unprecedented rate in the past decade, and it is still growing.
Prominent video game live-streaming websites, such as Twitch and YouTube, have seen a massive rise in their viewership as a result.
People from around the world tune into these platforms every day to enjoy their favorite games being played by some of the best players in the world. Naturally, the betting industry is capitalizing on this. Now with cryptocurrency in the scene, it has changed the entire digital market for good.
What exactly is esports?
Esports stands for electronic sports; it is a competition of professional video game players who compete using video games. This genre of sports can take on various forms, where players can compete individually or as teams.
The popularity of esports has risen to the extent that many game developers nowadays are actively funding these tournaments and designing the games specifically for the purpose.
Why is crypto betting on the rise?
A wide range of esports events is held every day, where professional gamers from around the globe compete to win a share of a guaranteed prize pool. Betting on these tournaments has become increasingly popular thanks to easily accessible betting sites. Among the many types of payment processing options available, online esports bitcoin betting has become the most appealing because it allows for faster, more secure, and lower-cost transactions.
Since it’s a decentralized digital currency, not only is it untraceable, but it’s also encrypted and verified using a sophisticated algorithm, making it virtually immune to hacking. The ability to instantly transfer and withdraw funds provides users with a truly dynamic betting experience. Unlike traditional ways of betting, where users have to provide their personal information and financial details, Bitcoin transactions are completely anonymous. This way, gamblers can wager as much money as they want without worrying about the government or financial institutions tracking their activity.
What type of bets can you make and what games/events are available for betting?
Users can bet on almost every popular title as well as lesser-known titles. The betting market has endless options available to suit a variety of preferences. Viewers can bet on any specific game that interests them, on a certain team, or on their favorite professional player.
Some of the most popular video game titles that you can bet on are listed below:
- Call Of Duty
- CS: GO
- Tom Clancy’s Rainbow Six Siege
- King Of Glory
- Dota 2
- League Of Legends
- Arena Of Valor
- Rocket League
- PUBG (Player Unknown’s Battlegrounds)
Usually, most bets are placed during live events, which happen almost every day. The common options to wager money on during a gaming match include Odd/Even Number of Kills, Total Number of Kills, and Outright Match Winner. There are also other exciting options, such as the “First Blood Bet,”, in which you wager money on who is going to score the first kill. Of course, the betting options are not limited to these. You can find and bet on those that excite you the most.
What other cryptocurrency payment options you can use to place bets?
In addition to Bitcoin, the betting platforms also offer Litecoin, Dogecoin, Tether, Ripple, Binance Coin, and much more. Betting platforms are constantly expanding their crypto libraries. You can withdraw and make deposits with the aforementioned payment options instantly with little to no confirmation.
How big is the esports market and are there any top esports teams?
The global esports market is a billion-dollar industry, just last year it was valued at over 1.38 billion U.S. dollars. In 2022, the worldwide esports audience reached 532 million people and in years to come, it is expected to grow even more. The majority of esports revenue comes from sponsorships and advertising.
There are some of the top teams in esports space, who have a bigger presence than others. Some of them are OpTic Gaming, FaZe Clan, Evil Geniuses, Fnatic, G2 Sports, and Team Liquid. However, there are also teams that might not be as big, but they are favorites among gamblers due to their exceptional skills and high winning percentages.
What are the best esports betting strategies?
The ability to predict the outcomes of matches and tournaments depends on how well-versed you are with the game, the team, and the individual players. The easiest way to formulate a betting strategy is to research teams on Twitch and popular gaming forums.
Even slight changes in the team structure can dramatically affect the results, so staying aware of the latest gaming trends is the most important tip to remember.
Avoiding risky bets by wagering small amounts can help you build confidence until you are ready to bet like a pro. Tournaments are the easiest way to test your luck and skills.
Wagering on these matches is usually recommended for beginners due to the higher odds of winning.