Cybersports Betting Overview 2022
Cybersport is an umbrella term for all forms of electronic sports (eSports), including video games, online action, and virtual reality simulation competitions, which have become increasingly popular in recent years.
Meanwhile, betting on electronic sport has long been a part of our culture, especially in America, where sports fans spend billions of dollars every year on gambling. In fact, Americans bet at least $100 billion annually on sports. The numbers certainly seem high, but that’s because it’s growing at a steady pace.
“Cyber Sport Betting is a rapidly emerging new form of sports wagering”, wrote Rami Saidi, founder and CEO of F1rstbet.com. “It is also a very lucrative sector”. This is because of the huge potential for profit inherent in cyber sport betting.
Esportsbooks vs Traditional Sportsbooks
There are two main types of online bookmakers: esportsbooks and traditional online bookmakers. Esportsbooks offer an array of different sports bets, including college football, basketball, baseball, soccer, hockey, and more. They also allow you to place bets on other games, such as Madden NFL or FIFA 20.
Traditional sportsbooks only offer odds on one type of game, usually football or basketball. However, some do offer odds on other sports, like soccer and hockey.
The biggest difference between these two types of bookies is how much money they take in. Esportsbooks typically charge higher fees than traditional sportsbooks. That’s because they have to pay out winnings from all kinds of games.
Traditional sportsbooks don’t have to worry about paying out winnings from multiple games. Instead, they focus on offering the best odds on just one game.
Connection Between Cybersports and Gambling
Cybersports betting is legal in most countries around the world. It’s not illegal to gamble online, so why would it be illegal to make a wager on a sporting event?
In many cases, the answer is simply because people think it should be illegal. But this isn’t necessarily true.
Gambling laws vary widely across the globe. In some places, it’s perfectly acceptable to bet on any kind of sporting event. In others, it’s completely banned.
For instance, in the United States, it’s illegal to gamble with real money. However, it’s perfectly fine to bet on sporting events online. You can find lots of websites that will let you place bets on anything from American Football to horse racing.
In addition, some states have legalized sports betting, which means you can legally place bets on certain esports. If you live in one of these areas, you may want to check if it’s okay to bet on sports online.
Cybersports – Countries That Are Leaders in eSports
The popularity of electronic sports (eSports) continues to grow worldwide. In 2017, the number of active participants in the online game League of Legends reached over 50 million people. But what exactly is it about eSport that makes it such a big hit? And how does one play the game?
In addition to the popularity of video games, the rise of eSports is closely linked to the rapid growth of technology. Today, many companies try to use the potential of digital media to attract customers. One of the most successful examples is the gaming giant Electronic Arts, which has been able to achieve great success thanks to the release of the FIFA franchise. However, even in the case of EA, the development of video games is still very expensive.
But it turns out that the real problem lies in the lack of financial resources. While developing a computer game requires a lot of money, the production costs of a mobile app are much lower. As a result, the market for apps is growing faster than the one for PC games.
While the popularity of video games is increasing, the development of the sport itself is lagging behind. Many countries remain outside the global competition. Some of them do not even have proper infrastructure for competitive events. Others simply cannot afford to develop their national teams.
However, the situation is changing. More and more countries are joining the league. They invest into the development of youth teams, organize competitions and provide support for athletes.
Just like in any other kind of sports, there are some regions that are leading the way. Here are three countries that are successfully developing cybersport.
#1 | South Korea
Computer sports originated in the United Kingdom, with the first e-sports tournament held there in 1996. In the same year, the International Gaming Federation (IGF), a worldwide organization dedicated to video gaming, was founded in London. A few months later, the first electronic sports competition took place in Paris, France.
However, it is South Korea, where the industry has gained an immersive growth thanks to World Cybergames Championships (WCG). It is believed that Korea has become the most enthusiastic computer-gaming nation in the world, where cyber athletes are taught at universities and players have their own fan clubs, and are real stars of entertainment.
No surprise that esports betting sites are also popular in the Korean market.
#2 | United States
The American people are the real creators of esports. In 1991, the first competitive gaming event was held in Dallas, Texas. At that time, there were no professional gamers, and the games were played in arcades. However, the first tournament was organized by a group of enthusiasts.
In 1996, the first international video game competition was held in San Jose, California. The first major league was established in 1999, and it became one of the largest leagues in the world. In 2001, the Electronic Sports League (ESL), the first organization dedicated to esports, was founded.
Since then, the popularity of esports has been growing rapidly. In 2017, the total prize money won by professional gamers reached $1 billion. And in 2018, the World Cyber Games (WCG) held in China attracted over 20 million online visitors.
Although computer sports are not as well known as traditional sports in America compared to European countries, small steps toward recognizing esports as an official sports activity are being taken. For example, the National Collegiate Athletic Association (NCAA) has announced that it will recognize esports as a legitimate sport.
According to the International eSports Federation (IeSF), the global governing body of esports, the United States is the leading producer of esports athletes. There are currently about 200,000 active gamers in the country. By comparison, there are approximately 5 million people playing soccer in Japan and Germany combined.
#3 | China
The number of internet users in China is huge – about 1.4 billion. Over 60 million of them use the web actively. And there are many sports fans among them. They watch online games, play computer games, chat about it on social networks, etc.
But what makes the situation even more interesting is that almost every day something happens that changes the way we see the world of cybersports. For example, recently the Beijing Sports Commission announced that the game of chess will become an officially recognized sport in China. This happened because chess is very popular among young people, especially among students. So now you can find chess tournaments in schools, universities, colleges, and even kindergartens.
Besides chess, another sport that has gained popularity among the younger generation is Go. There are already several professional teams competing in the game. Moreover, the International Go Federation has even set up a special division for children under 12 years old.
What Are the Different Types of Cybersports?
Cybersports are divided into three categories: individual, team, and league.
- Individual cybersports include chess, Go, poker, and other board games. These games are played by one person at a time.
- Team cybersports include FIFA, CSGO, LoL, Dota 2, Hearthstone, Heroes of the Storm, StarCraft II, and others. These games are played between two teams.
- League cybersports include Call of Duty, Counter-Strike, DOTA 2, Fortnite, League of Legends, Overwatch, Rainbow Six Siege, Smite, Super Smash Bros., and others. These games feature multiple teams competing against each other.
There are two main types of coverage: live broadcasts and pre-recorded matches. Live broadcasts are usually shown on television or online through streaming services. Pre-recorded matches are recorded and uploaded to YouTube or other websites.
Live broadcasts have become increasingly popular in recent years. In 2016, the most watched esports broadcast was Dota 2. It was followed by Counter Strike Global Offensive and League of Legends.
In 2021, the most viewed esports event was the Intel Extreme Masters Katowice Major. It was attended by over 100 thousand viewers.
Pre-recorded matches are also becoming increasingly popular. In 2022, the most viewed esports match was between Team Liquid and Cloud9. It had over 4 million views.
The biggest problem with pre-recorded matches is that they lack interactivity. You cannot ask questions to your favorite player during the game. Also, you cannot follow the progress of the game.
Betting on League of Legends
League of Legends is one of the most popular esport games in the world. The game is played by millions of people from all around the globe.
It’s easy to bet on League of Legends. All you need is a betting site where you can place bets. Some sites offer free bets, so you don’t have to risk anything. Others require you to deposit money first.
You can choose any team you like. But if you want to make sure you win, then you should pick the best team. That means picking the winner of each round.
You can bet on individual players as well. If you think that a certain player will perform better than his opponent, you can bet on him.
If you want to be safe, you can bet on the entire league. That means placing a bet on which team will win the whole tournament.
Betting on Dota 2
Dota 2 is another popular esport game. Like League of Legends, it is played by millions of fans from all around the globe, including many Americans.
Like League of Legends, Dota 2 is easy to bet on. Most betting sites allow you to place bets without depositing money.
However, unlike League of Legends, Dota does not have a single champion. Instead, there are multiple champions who play against each other.
So when you bet on Dota 2, you have to decide which champion you want to back. Then you have to predict whether he will win or lose.
When you bet on Dota 2 you can either bet on a specific match or on the entire season.
Betting on CSGO
Counter Strike Global Offensive is another popular esport. Millions of people play this game every day.
CSGO is very similar to Dota 2. However, instead of having multiple champions, there is only one.
This makes it easier to bet on CSGO because you do not have to worry about choosing the right champion. Also, since there is only one champion, you can easily predict how he or she will perform.
Most betting sites offer free bets for new users. So you do not have to risk anything when you start out.
But once you deposit some money, you can place bets on CS:GO.
Requirements for E-Sports Games
The popularity of video games continues to grow. In particular, there is a huge interest in eSports — competitive video games played professionally. A large number of players participate in tournaments organized by professional teams. At the same time, a growing number of young people begin to play video games, and some of them become fans of the game.
E-sports are becoming increasingly popular among adults, too. This trend is being driven by the fact that the game itself is very interesting. Moreover, it does not require special equipment, unlike traditional sports. And finally, the game itself is not limited to one device, because it can be played on mobile devices such as smartphones and tablets.
In addition to the above, the development of eSports requires several additional conditions. First, the game must be developed specifically for eSports. Second, the game must be balanced. Third, the game must provide equal opportunities for players. Fourth, the game must allow you to compete against opponents from around the world. Finally, the game must meet certain technical requirements.
Is Esports Betting Legal?
Esports betting is legal in most countries. The legality of esports betting depends on the country where you live.
For example, in the United States, the law prohibits gambling on sporting events. But it allows betting on eSports.
In Europe, however, the situation is different. There are no restrictions on betting on eSports.
Regulations of Cybersports in the World
Cyber sports are played around the world. Each country sets its own rules and regulations for these games. For example, some countries require players to register online while others don’t. There are different requirements for teams, too. In addition, there are many ways to play cyber sports. For instance, you could watch live streams or play against opponents via chat rooms.
World Association of eSports
The World Association of eSports (WESA), founded in 2016, unites the largest organizations in the industry, including the top teams in the world, such as Na`Vi, Fnatic, Ninjas in Pajamas, Virtus Pro, G2 Esports and Misfits Gaming. The organization aims to provide stability to the esports ecosystem and promote the development of competitive gaming worldwide.
WESA has established a set of principles to ensure fairness in competitions. It also provides guidelines for organizing tournaments and leagues. WESA organizes international championships, which include the League of Legends Championship Series (LCS) and the Overwatch League (OWL).
Payment Methods for Cybersports Betting
There are two main methods of payment: credit cards and cryptocurrencies.
Credit card payments are convenient and safe. However, they do have their disadvantages. You need to pay fees for each transaction. Also, if your account gets closed, you will lose all funds.
Cryptocurrencies are more secure than credit cards. They are anonymous and free of charge. However, they are less common than credit cards. Therefore, you may face problems when making purchases with them.
How to Start Playing Cyber Sports?
To start playing cybersport bets, you should first choose an appropriate platform. Then, you need to create an account. Once you have done this, you can place bets.
You can use any cryptocurrency wallet to store your coins. Some platforms offer integrated wallets. If you want to make deposits using fiat money, then you can use third-party services that support fiat currencies.
You can find out how much you win by checking your balance. To withdraw your earnings, you need to contact customer service.
What Are the Different Types of Cyber Sports Bets?
There are three types of cybersports bets: fixed odds, parlays, and teasers. Fixed odds bets are based on the outcome of a single match. Parlay bets involve multiple matches. Teaser bets are based on the results of several matches.
Fixed Odds Bets
A fixed odds bet involves placing one wager per game. This means that you must predict the winner of every match.
A parlay bet involves placing multiple wagers on multiple matches. For example, you might bet $10 on Team X to beat Team Y.
A teaser bet is similar to a parlay bet. However, it’s not based on the result of multiple matches. Instead, it’s based on the results of just one match.
The Future of Esports Betting at Bookies
As the popularity of esports betting grows, bookmakers are looking into new ways to attract customers. One way they’re doing this is by offering bonuses.
For example, you might be able to get up to 100% bonus on your first deposit. Or, you might receive a 50% bonus on your second deposit.
Bookies are also trying to improve their services. For example, they’re adding features like live-streaming and chat rooms.
Bookies are also working on improving security. For example, they’ve created anti-fraud systems. These systems check whether transactions are legitimate or not. So, you don’t need to worry about getting scammed.
Esports betting is becoming increasingly popular. As a result, bookmakers are investing in this field. They’re also adding new features to attract more customers.
So, why shouldn’t you play cyber sports right now? Playing cyber sports can be fun. But, there are risks involved. Therefore, if you decide to gamble online, you should only play on reputable sites and read reviews before signing up. It’s key terms for your safe cybersports betting. Good luck!