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  • August 07, 2022

Esports Betting: Here's how

Esports are more popular than ever at the moment, with a growth that is looking to continue into the future. Betting sites, such as Midnite Betting, are becoming more commonly used for esports as fans look to place odds in the world of electronic sports. As the online world thrives and we move away from more traditional betting methods and the classic sports odds, tournaments are becoming huge in the betting scene as the industry opens up to a whole new audience base.

Esports For Beginners

These different options are all worth exploring and for most people, it’s esports betting that represents the best chance of making consistent profits in comparison to other types of betting. For those who are looking to dabble into esports betting for the first time, there are some basics which need to be understood in order to see the best results. The most popular betting types are as follows:

  1. Real money betting

Being the closest to traditional sports betting, it works in the same way as betting on football games, boxing matches or golf tournaments. Real money wagers are placed at agreed odds and get paid out if selections are correct. All kinds of different outcomes can be bet on which include the winners of individual matches and the overall winners of tournaments.

  • Skin betting

Also known as item betting, this method is particularly popular among esports fans since a lot of modern video games feature virtual currencies and items that can be transferred between players. Since this is often highly sought after among gamers, there are many websites where players can buy, sell and swap items for the most popular video games. There are also betting sites where players can use items and currencies to gamble with, betting on the outcome of esports contests as a replacement for real money.

  • Social betting

Social betting is quite common in the esports community and sees online friends placing informal wagers on the outcome of events. These bets are sometimes for real money, but they’re usually for skins or other items which are agreed on between the two parties. This method can often lead to petty arguments and falling out since betting with people that you only know online means you can’t be sure you’ll get your winnings at the end.

  • Challenge betting

Also referred to as head-to-head betting, challenge betting sees gamers compete against each other for real money or virtual game items. A lot of gamers simply organise the bets among themselves and then settle them once their contest is over but there are also websites that organise these bets more formally. The official bets see players pay entry fees to enter a contest where the winner is rewarded from the proceeds.

  • Fantasy betting

Although not technically betting, this can be compared to daily fantasy sports for traditional sports, building rosters using esports players instead.