eSports betting vs traditional betting: Key differences and trends

Published on 11/02/2024 06:11:24

The word ”betting” has been used for years to refer to placing wagers–like free bet no deposit – on classic sports like football, tennis, or motor racing. However, a shift has been taking place for some time in the industry, with video game competitions joining the list of events Best online bookmakers provide odds on.

eSports betting definition & rise to fame

Despite its perception as a young scene, eSports in fact traces back over 50 years. Notable moments in its history include:

• 1971: Stanford University holds the Intergalactic “Spacewar!” Olympics (Stanford, CA, USA)
• 1980: Atari organizes the Space Invaders championship (Los Angeles, USA)
• 1997: Red Annihilation Quake tournament takes place (Atlanta, GA, USA)
• 1998: StarCraft gains huge success in South Korea, eventually leading to formation of the Korea e-Sports Association
• 2002: Major League Gaming is launched (New York, USA)
• 2011: Twitch launches as the first live-streaming service (San Francisco, CA, USA)

As of today, the total number of eSports followers is estimated at 500 million people worldwide, with the market revenue expected to reach $12.4bn by 2030. In terms of betting, eSports does not at all differ from traditional sports. Both variations imply predicting the result of officially organised events.

eSports betting vs traditional sports betting: event types

Types of events and details on their scheduling can serve as the canvas for wagering opportunities. Traditional sports tournaments offer familiar structures. The Premier League's season-long narrative contrasts sharply with Wimbledon's intense, bracket-driven format. Meanwhile, eSports paints with a different palette entirely.

• eSports tournaments often blend league play with knockout stages in multi-tiered structures.
• Virtual environments enable rapid-fire series, with best-of matches completed in hours.
• Cross-game competitions like Intel Extreme Masters showcase skills across multiple titles.
• The Overwatch League mirrors traditional sports with city-based teams in a digital sphere.
• Global eSports events transcend geographical limitations, offering limitless betting opportunities.

This digital nature allows eSports to host worldwide competitions effortlessly, reshaping the betting landscape with its flexibility and accessibility.

eSports betting markets vs traditional sports betting markets

While traditional sports offer markets like over/under and handicaps, eSports elevates these concepts. In Counter-Strike: Global Offensive, you might bet on AWP (sniper rifle) kills. MOBAs like Dota 2 allow bets on item purchases or ability usage frequencies.

eSports' digital infrastructure enables millisecond-precise in-play betting, reshaping the entire landscape. This technological edge blurs lines between spectator and participant, offering a completely different betting experience compared to traditional sports.

Trends in eSports betting

The eSports betting landscape is evolving rapidly, driven by technological innovation and surging market demand. One of the most striking trends is the integration of blockchain technology into eSports betting platforms.

Another game-changer is the rise of AI-powered analytics. Sophisticated algorithms are now crunching vast datasets, offering punters insights into team performance, player statistics, and psychological factors.

Data is the new currency in the world of eSports betting, and the artificial intelligence is the mint producing it at an industrial scale. For instance, algorithms can now predict the likelihood of specific in-game events with remarkable accuracy, such as the probability of a 'first blood' in League of Legends matches, based on team compositions and player histories.

The convergence of virtual reality (VR) and augmented reality (AR) with eSports betting is creating immersive experiences that blur the lines between spectator and participant. Imagine placing a bet on a CS:GO match while virtually standing in the arena, with real-time odds and statistics floating before your eyes.

Market growth is equally staggering. With major tournaments now offering prize pools rivaling traditional sports, the betting volume is skyrocketing. The integration of eSports betting options by online operators like Betgr8 signals a shift in the industry's landscape.

Notably, eSports live betting operates at hyperspeed, with markets fluctuating in milliseconds based on in-game events. Traditional sports offer more predictable rhythms, allowing for strategic pauses. eSports platforms leverage real-time data streams, enabling instant prop bets on granular actions.

Moreover, we're seeing the emergence of skill-based betting markets. Platforms are now allowing players to wager on their own performance in casual matches, creating a new category of peer-to-peer betting that's uniquely suited to the eSports ecosystem.

Trends in traditional sports betting

The landscape of traditional sports betting is undergoing a seismic shift, driven by technological advancements and changing consumer behaviours.

• Mobile-first betting experiences are now the norm, with apps offering personalized recommendations and instant in-play wagering.
• The convergence of social media and betting platforms is creating new forms of engagement, such as peer-to-peer betting and social prediction markets.
• Blockchain technology is being explored for transparent and tamper-proof bet settlement, addressing long-standing trust issues in the industry.
• Virtual and augmented reality technologies are paving the way for immersive betting experiences, blurring the lines between physical and digital sportsbooks.
• The proliferation of data analytics is empowering punters with sophisticated tools for handicapping and strategy development.
• Gamification elements, such as loyalty programs and achievement badges, are enhancing user engagement and retention.

The rise of cashless payment systems is another trend transforming the betting experience. From e-wallets to cryptocurrency integrations, these technologies are streamlining transactions and opening up new possibilities for cross-border betting.

News Sports Betting Crypto