Esports is becoming a premier betting outlet, seen as one of the most expansive sectors in gambling. With this recent development, esports betting sites are appearing more frequently to answer the call of various regulated markets that want to get involved with professional video gaming. In turn, there are market old-timers like N1 Casino Greece that embraced that innovation much earlier. Our objective is to provide an accurate explanation of the eSports betting sector.
Table of Contents
The eSports Meaning
Competitive gaming is referred to as eSports. It’s comparable to regular sports in that fans follow teams, watch games, and wager on who will win. However, Esports are broadcast live via the internet, with millions of people worldwide viewing competitions at any one moment; this has helped esports grow into a billion-dollar industry in recent years.
There are two primary forms of eSports in the top online casinos: games that simulate real-world sports (e.g., FIFA, NBA, and MLS have their own sports teams) and traditional esports games, like CS: GO.
Esports has grown in popularity recently, with platforms like YouTube and Twitch making it easy for viewers to watch gamers compete. Like traditional sports, skilled gamers can earn substantial salaries. Teams and players compete in major esports competitions for millions of dollars in prize money.
An Introduction to Who eSports Bettors Are
eSports operators are slowly but surely solving problems with logistics such as odds, integrity, and rapid change. However, marketing still poses many challenges. For example, gamers have not yet been clearly defined as an audience; appealing to this group can be risky because there is insufficient research about potential eSports gamblers.
Additionally, attitudes towards eSports betting vary significantly from region to region and even from game to game, so businesses must identify target markets before launching a marketing campaign. There are two ways to look at esports: their statistical demographics and cultural characteristics. In addition, marketing strategy may be influenced by factors like age and frequency of wagering.
Esports Betting Risks
Esports has grown increasingly popular, and esports betting is now readily available, so it’s critical to understand the potential dangers, particularly for youngsters.
- The potential problem is that since esports betting doesn’t fit the mold of conventional gambling, parents of gamers or young people might not realize that esports betting and buying loot boxes can be considered gambling. Traditional gambling is prohibited for minors, but esports betting and other in-game gambling techniques are not controlled. Thus, teenagers as young as fourteen or under eighteen can easily gamble on their parents’ credit cards.
- Social media promotes gambling habits among young gamers, as it can make betting look like something that is just part of the game. With memes explicitly created for younger audiences, Esports betting sites are succeeding in getting their message across using humor and relatable posts. This technique contrasts with traditional sports betting advertisements targeting an older demographic.
- Another worry when betting on esports is a lack of understanding of the sport’s intricacies. Some games, such as DOTA2 or League of Legends, are complex and challenging to comprehend without extensive personal expertise. That is not the case with conventional sports, such as soccer, where game rules are generally well-known and understood by spectators.
- Another cause for alarm with esports betting is match-fixing, which often goes undetected because of the lack of anti-fraud and cheating mechanisms.
- Some experts are concerned that as more young people engage in esports betting or gambling within video games, they may develop a severe problem or even an addiction. Consequences of these can include negative impacts on their physical health, anxiety, depression, lost work or school opportunities, and conflicts in their relationships with friends or family.
Gambling Addiction and eSports
Out of all the IGS respondents, more than half were regular gamblers. Being relatively young and impulsive raises some serious questions about their stability and whether they’re gambling responsibly. Over half of those surveyed (53%) have gambling habits that would land them an 8 or higher on the Problem Gambling Severity Index, thus making them addicted to betting by definition.
With the rapidly growing popularity of esports, betting operators must be aware of the potential for serious gambling problems. Many sites already offer dependency resources for their clients, and this trend should continue with pro gaming.