Video games are no longer just a diversion for teenagers. The industry’s development is reaching new heights every year. Many people confuse the term ‘eSports betting’ with ‘online sports betting.’ Occasionally, even professional bettors, who are unfamiliar with eSports, get perplexed. Despite how similar they may sound, the terms refer to entirely different things. However, if you know the drill, you can earn money from both. It is important to understand the differences between them. Each has its advantages and disadvantages. It’s important to learn a bit before deciding which is best for you.
What is Sports Betting?
Sports betting is the practice of predicting sports outcomes and wagering on them. The oldest record of sports betting extends all the way back to more than 2000 years ago. The time of the first Olympics in Greece was also the first record of sports betting. The Greeks established a tradition of betting on athletic rivals. Betting became incredibly popular in Rome. The ‘Gladiator Games’ offered an ideal venue for continuing this tradition.
Like all other things in this modern world, sports betting got digitized. It is no longer needed to be physically at a race track or stadium to place a wager. ‘Bookies’ are also a profession that has gone away. You can now place your bet with one click, and you can get the returns instantly in your eWallet. According to Forbes, 63% more Americans prefer online sports betting than the previous year. In the United States, the sports betting market generated $1 billion in revenue in 2020, and that figure is expected to more than double by 2023.
What is eSports Betting?
eSports betting has some comparable aspects to traditional sports betting. Bets are made on the results of video game competitions instead of a soccer match. While it may not have been the intention, video game developers have created games that allow for the collaboration of many individuals and teams. This development track was also perfect for the evolution of eSports betting. Over the previous decade or so, the world of eSports has matured significantly. It took off during the COVID-19 lockdown, when all kinds of physical sports stopped. eSports has grown from an obscure niche, enjoyed by a small number of passionate individuals, to something embraced by hundreds of millions of fans.
5 Key Differences Between eSports Betting Vs. Traditional Sports Betting
- Bet Types
Firstly, eSports and physical sports have differences in types of bet. There are two different types of bets:
Spread betting is common for physical sports. However, it is very rare in eSports betting. Spread Bet is a betting option where you put your money into predicting how close a team would reach to win or lose. This type of bet takes place for some popular sports like football and basketball. This makes betting easier for gamblers. They can choose to wager on either side of the game profitably. Even if it means wagering on a prohibitive favorite team. Sportsbooks use the point spread to have the same amount of money bet on either side of a game. This helps the sportsbook to minimize risk from their equation.
eSports betting usually takes place in this format. Sportsbooks for some physical sports are also familiar with Moneyline betting. A Moneyline bet is one in which you wager on the game’s winner, regardless of the ultimate score. It is the simplest of all types of bets. If you’ve ever wagered on the result of any match, it was most likely a Moneyline type. It is riskier than spread betting. As with most things in life, more the risk equals more opportunity for reward.
As physical sports betting is more mature, it is legal in more places than modern eSports betting. Despite this, eSports betting is also legal in many countries. The number of jurisdictions where it is legal is growing very quickly. Many European countries, including the UK, Spain, Malta, Italy, and Denmark, have legalized eSports betting. Only a few states of in the US have followed the trend. The same goes for Canada and India. You’re not legally allowed to bet on eSports in either place.
These bans are not a total block on the activity. International betting sites are available regardless of your location. Betting physical sports is legal in almost all countries with notable exceptions. Some Islamic Countries ruled by conservative Sharia Law systems are notable because betting is also extremely popular. Most gamblers in those places do their wagering online in sites hosted outside their jurisdiction.
- Ecosystem Volatility
Volatility is a critical component of any sector’s performance. With conventional sports, everyone is familiar with the event schedule. There are also well developed promotions and press to inform viewers. Most people can open their morning paper and know which teams are struggling and which are on a streak. This isn’t necessarily so in the eSports world like it is in the sports world.
However, such a system is not inherently harmful to eSports betting fans. This only adds to the scene’s magnificence but also adds a layer of complexity.
- Player Injuries
Conventional sports have a high risk of injury and exhaustion. Players must manage their bodies through intense practice schedules and competitive matches. Injuries and fatigue are prevalent in the world of physical sports. Bettors must keep an eye on which players are in and which are out.
Injuries in eSports are pretty rare, which makes it a little less unpredictable. Always keep in mind that rare does not mean non-existent. Bad posture and a lack of physical fitness may result in repetitive strain injuries or strained muscles. These can force eSports players to miss games. Bettors must determine the impact of a player’s absence on a squad if it is frequent for a specific event or a team.
- Availability and Importance of Stats
From a bettors perspective, availability statistical data is a crucial factor. It establishes the level of assurance you can have for each specific match. If there are websites that provide detailed statistics for recent games, you will be able to comprehend a fact-based bet.
Unlike the common assumption, eSports-related websites are quite comprehensive and simple to browse. Many cover practically all eSports events. These sites also connect to other well-known websites that focus on specific eSports games. The contribution of stats for eSports may not be as useful as expected. The niche of eSports is swift-changing. One statistic may be relevant today but not tomorrow. However, stats can be handy for betting on age-old games like soccer or basketball. Betters would be wise to stick to the official league pages for scraping stats. Some of the third-party sites are doing great nowadays, but they have a lot to improve to become actually useful.
This article is not about determining the better between eSports betting vs. sports betting. We just tried to draw a picture for you from different aspects to help you choose. No matter what you decide, always do your own research before putting your hard-earned money on some team. Do not just depend on the opinions and predictions of others. And always keep a distance from scammer betting sites.