Esports betting is a relatively new form of entertainment that millions of people enjoy.
In this video we will explain what 🫦 esports betting is, how it works, and what the risks are that you need to be aware of.
What are Esports?
Esports 🫦 is a term for competitive gaming.
In many ways it's the same as traditional sports with fans following teams, watching matches 🫦 and placing bets on who will win.
Esports are streamed live, with millions of viewers around the world watching contests at 🫦 any given time, leading to esports becoming a billion-dollar industry in recent years.
There are two main types of esports, the 🫦 simulation of real-life sports (FIFA, NBA and MLS have their own esports teams, for example) and classic esports games like 🫦 League of Legends, DOTA 2 and CS:GO.
Streaming platforms like YouTube and Twitch have made watching players accessible to anyone with 🫦 an internet connection.
Like in traditional sports, successful players can earn large salaries.
Some of the biggest esports tournaments involve teams and 🫦 players competing for millions of dollars in prize money.
Read More: What is Esports?
How Does Esports Betting Work?
Although you can gamble 🫦 before an esports event, live betting during the match has become hugely popular.
The three most common types of esports betting 🫦 are:
Real-money, fixed-odds betting through an online betting site
Social betting between individuals arranged privately
Skins gambling and loot boxes, which often take 🫦 place in-game
Some esports bets are specific to a particular game like CSGO , League of Legends, FIFA and DOTA2.
For example, 🫦 someone might place a wager on who makes the 'first kill' within a particular match.
Others bets can be placed on:Who 🫦 wins the match
Who wins the tournamentThe final score
Odd/Evens bets – this is where you guess whether there will be an 🫦 odd or even number of games won, players killed, or rounds played.
And Over/Under bets – you bet on whether an 🫦 esports team will score more or less than an amount set by the online betting site.
Esports Betting Risks
Since esports has 🫦 become increasingly mainstream and esports betting is widely accessible, it's important to understand the potential risks, especially for younger people.
One 🫦 concern is that because esports betting may not look like traditional gambling, parents of gamers or young people may not 🫦 realize that esports betting and loot box purchasing can be, in fact, gambling.
While traditional gambling is illegal for minors, esports 🫦 betting and other in-game gambling mechanics are not regulated, thus people under 18, or in some areas, under 21 can 🫦 easily gamble, often on their parents' credit cards.
Social media also plays a big part in encouraging young gamers to bet, 🫦 by making it seem like a normal part of gaming.
Esports betting sites advertise using social media posts that are funny 🫦 and relatable, with memes deliberately targeting a younger audience.
This is different than advertising aimed at an older demographic who places 🫦 bets on traditional sports.
Another concern when betting in esports can be a person's lack of knowledge of all the intricacies 🫦 of the sport.
Some games like DOTA2 or League of Legends are quite complex and hard to understand without an in-depth 🫦 personal knowledge of the game.
This is different from traditional sports, like soccer, for example, where the rules of the game 🫦 are generally widely available and understood by spectators.
A further concern with esports betting is match fixing, and the lack of 🫦 proper anti-fraud and cheating mechanisms in place.
Finally, as more young people engage in esports betting, or gambling within video games, 🫦 there are concerns that some may develop a serious problem or even an addiction.
Consequences of these can include negative impacts 🫦 in their physical health, anxiety, depression, lost work or school opportunities, conflicts in their relationships with friends or family, and 🫦 more.
Where to Get Help
If you think esports betting is causing you or a family member problems, emotional distress, or financial 🫦 harm, there is help and resources available for you.
Mental health support for individuals and families experiencing problems associated with gaming 🫦 or gambling.
Get started with Kindbridge today!
Book a free consultation
This article is part of Mind Your Game, a campaign brought to 🫦 you by Game Quitters, Kindbridge and the Entain Foundation US to reduce gaming and gambling-related harm in esports.
