8th November, 2016
There’s no denying that betting is big business, if you go to any bookmaker they’ll have odds on thousands of sports from basketball to hockey. Since its rise in popularity, eSports has become the new “hot” online sport, and it was only a matter of time before bookmakers started to offer odds on these games.
You can now bet on a variety of eSport outcomes from a range of online games including League of Legends, DOTA 2 and CS:GO. So if you think you’re a bit of an eSports expert, then we’ve got some great tips on how you could make some money from your gaming knowledge!
Just like in any sport, viewers always have different opinions on teams and players which leads to disputes and arguments. This might sound like a bad thing that only has a violent outcome, but there are other ways to settle these disagreements. Some smart person decided to put their money where their mouth is and settle it with a bet.
The two participants state their terms and how much they want to bet and whoever wins gets all the money, simple! Since then betting has exploded around the world and is available on all types of sporting events.
Before eSports was introduced to the masses a lot of betting took place offline between audiences at gaming events. Although not technically legal or regulated, it was the only way to place bets back then. Most bets were verbally done and would be placed between friends watching games. Since then, eSports has been picked up by many bookmakers and it's now possible to place bets on a range of eSports games.
Although eSports betting has seen a massive increase in the UK and Europe, America on the other hand has not been as welcoming.
Sports gambling in the US is regulated by the Professional and Amateur Sports Protection Act which was introduced in 1992. This bill banned betting on sports in all but 4 states. If that wasn’t enough to stop eSports betting then the Internet Gambling Enforcement Act of 2006 sealed its fate, making all wagers online unlawful.
If you’re looking to bet in the US, then you’re out of luck for the moment. There are a few websites currently working on making it legal in the US, but we think they might have a hard time in doing so. But what about all those “other” online gambling websites?
The chances are if you’ve Googled online betting websites then you’ve probably found a range of eSports and “skin” betting sites.
These might look good, but if you’ve been paying attention to the news recently then you’ve probably heard of the CSGOLounge and DOTA2Lounge scandal. These websites involved betting virtual items to win more in-game items. Both of these websites were completely unregulated by any authority, and they have been since shut down. In addition to this Valve the creator of CG:GO and DOTA 2 have aggressively pursued all other online skin gambling website.
If you’re thinking of doing some skin betting then don’t bother, you’re only going to lose your money or items.
If you’re considering betting on eSport games, then there're a few things to look out for to make sure you don’t get scammed. The last thing you want is to throw away your hard-earned cash. When looking for potential bookmakers the first thing is to make sure they are regulated and look legitimate. If they ask you to deposit money in Bitcoins or some other cryptocurrency, then they’re probably up to something dodgy.
Most websites will list their license number and what authorities they are regulated by at the bottom of their website. The most common authorities to look out for are the Gaming Commission which regulates companies in the UK. Another big regulated is the Malta Gaming Authority which regulates gambling businesses in Malta.
If you really want to place a bet on eSport games, then realistically only people in the UK and Europe can do so (legally). If you want to place a bet, then be sure only to pick a regulated bookmaker that covers the eSport of your choice. We’ve listed a few of the top ones below if you want to find out some more details. Remember to gamble responsibly and not to bet with money than you can’t afford to lose!
If you want to put your League of Legends knowledge to the test without risking a dime then you’ll be pleased to know there is a way! League of Legends Pick ‘Em is the competition that Riot hold every year as part of their World Championships celebrations.
In this competition, players must guess the correct outcomes of every match all the way to the finals. If you happen to guess everything correctly, then you can win some super rare prizes! In the past, these prizes have been the super rare discontinued Championship Riven skin and all 3 of the ultimate skins.
Although Worlds might be over for now, be sure to look out for it returning next year with new awesome prizes!