There are several ways to make money playing eSports online. We will compare the two most popular ones in this article. Gambling and esports betting have recently become a duo on gambling platforms. While these wagering categories are two of the most popular, some say ESports betting has a long way to go before being accepted outside its Internet bubble.
While both types of betting imply wagering on uncertain outcomes, they employ different strategies to succeed.
Within this article, we will explore the key differences between these two types of betting. These will include fundamental differences like events, types of bets you can make, and legalities concerning both wagering categories.
The Difference Between Sports and Esports Betting
Sports betting has been in our culture for thousands of years. A new form of sports betting has recently infiltrated the market and seems to grow each year exponentially – esports betting.
While both betting types involve gambling on the outcome of a match, competition, or stage, there are some essential differences to highlight:
- Sports betting mostly involves physical and more traditional sports like football, baseball, basketball, etc. At the same time, esports betting means gambling on the outcome of a video game match/tournament.
- Sports betting has the advantage of offering an ample palette of bets for any match or tournament. On the other hand, Esports betting still has competitions that only allow a “win/lose” bet for each team, which doesn’t engage as much enthusiasm.
- Sports betting is legal in many countries already, as it has the advantage of existing for centuries. Esports betting has yet to pass the test of time to become widely accepted and regulated.
Esports Betting Vs. Gambling
One of the main differences between esports betting and gambling is the type of competition or event people bet on. Esports betting generally involves wagering on the outcome of competitive video game matches/tournaments. A few examples would be League of Legends, Counter-Strike: Global Offensive, and Dota 2.
On the other hand, gambling generally means betting on traditional casino games like Roulette, Craps, Slots, and so on. Unlike Blackjack and Poker, most casino games are purely based on pure chance, with little to no skill involved in the outcomes.
Another critical difference is the types of bets you can make. While esports bets generally refer to video game accomplishments like “first blood” and “first tower,” gambling mainly allows people to bet on games of pure chance based on where a ball lands, what numbers are on the face-up sides of dice or which card surfaced on the “river.”
Not to mention that there are esports betting channels for online casino game tournaments!
Are eSports Legal?
Most of the Northern Hemisphere countries accept gambling within their legal framework. They mostly do it because gambling revenue is an essential part of overall tax revenue. To be able to tax it, many regulations and regulatory bodies have been created to ensure fair gambling experiences for people.
However, how accepted and regulated are esports in 2023?
Generally, the rule makers for esports events are game publishers. Depending on the event, a different rule maker may be appointed, who is often the organizer.
ESL is the ESports company that decided to found the World ESports Association (WESA) and declare it the governing/regulating body of an esports league. However, aside from WESA, ESIC, IeSF, and BEA, we cannot find any country-specific and official regulatory bodies.
Budget Management and Casino Bonuses
Regarding ESports betting, one of the best budget management strategies is to set a betting budget beforehand for each bet individually. Don’t exaggerate the amounts you want to spend on each bet, as you shouldn’t initiate this activity to ” make money ” or replace a job. Additionally, you should know the odds and potential payouts for the main bets to maximize the return on each investment.
Gambling budget management is similar but accentuates another approach. Instead of considering each bet individually, set your budget regarding how much you want to spend on gambling overall. You need to know the odds for each game and avoid those with low winning odds.
In addition, gambling often presents bonuses such as cashback or greeting promotions as aids for those with tight budgets. While this can be true, people who use rewards are likely to spend more because of their wrong speculations on the cost of wagering requirements surrounding bonuses.
Type of Knowledge Needed
Gambling and esports betting imply different types of knowledge. Gambling typically involves knowledge of the odds, casino game rules, and proper bankroll management. There is no need to know anything about specific people or teams. Most people would agree that each roulette, pack of cards, or pair of dice represents the same symbols repeatedly.
On the other hand, ESports betting requires knowledge of the competitive landscape of a specific ESports game or league. For example, the current rankings, the difference in skill level and game experience, and the meta of the games. In addition, betting denominations like “match winner” and “map winner” may sound almost identical. Still, they represent two different things that affect your betting revenue.
Simply put, gambling knowledge is more focused on the rules and patterns of casino games. In contrast, ESports betting knowledge revolves more around the competitive landscape and game elements.
Is There a Winner?
ESports betting and gambling are two different activities that require different sets of knowledge to create specific strategies.
Gambling mainly focuses on a game’s specific rules to create more patterns and strategies. However, ESports betting looks outward at various teams and players to determine player synergy and overall team skill, hoping to predict the outcome.
We could not establish a winner, as these two activities are too far apart to compare their strategies. However, you can! Which strategy type do you think is the best? Leave your answers in the comments section!