Bitcoin eSports BettingThe definition of sports betting has expanded and it now also includes online betting, in fact online betting is on its way to become the main form of betting. The list of accepted online payment methods by betting operators is also wider than it used to be, in fact numerous operators nowadays accept Bitcoin payments.

Therefore it is hardly surprising that the definition of sports has also changed. Namely, now eSports are also considered to be one of the many branches of sports. In the past these competitions were merely called video game tournaments, but today they are sports like all other sports, with thousands of players and millions of viewers.

The link between eSports and Bitcoin is quite natural, both are new phenomena who owe their existence to the technological advantages of the contemporary era, most notably the widespread use of the internet.

How Bitcoin eSports Works

In terms of payments and financing your account, eSports betting sites function just like standard online betting sites that accept Bitcoins. If Bitcoin is the only accepted payment method, you will be able to register an account without providing any financial information, including credit card number or bank account details. Moreover, you won’t even have to provide your name or email.

When it comes to online betting bonuses, almost all operators allow punters to use standard bonuses, such as no deposits or welcome bonuses, to be used on eSports betting events and markets. Some operators take a step further and offer special eSports bonuses, that are available only on all, or certain eSports/eSports betting markets.

Licencing and Security

Bitcoin eSports betting sites need to be licenced and regulated just like all other betting websites. There are numerous operator licencing bodies in multiple jurisdictions. Some countries allow operators that are licenced in other countries to offer services to their citizens, whereas certain authorities require operators to obtain a licence issued by the country’s regulatory body if they want to operate.

The licence guarantees not only that the bookmaker in question operates in accordance with the laws of the country in question, but also that your rights as a customer are protected, as the licence is a strong indicator that the operator has a fair pay-out policy and that it doesn’t scam its customers. That especially holds for operators that are licenced by the most prominent licencing bodies.

In addition to licencing, other measures of protection should be taken. Bitcoin payments are accompanied with all measures of precaution that ensure the security of funds. But, the casino operators need to provide other types of protection as well, their websites and betting platforms need to be protected from intrusions, viruses and other types of malware.

There are operators that offer exclusively eSports betting. However, many of the mainstream sports betting operators have introduced eSports betting. Punters who do not limit themselves to eSports betting, will prefer an operator that offers both eSports and conventional sports, whereas for those who bet only on eSports, it won’t matter if other sports are offered or not.

Types of Bets and Odds

If you’re into eSports, you watch and play on a regular basis, but you have never placed a wager on an eSports match before, you will surely be able to grasp how it works pretty quickly. It is no different than conventional betting.

You can choose from a range of covered eSports, as most operators offer at least a few more popular eSports for betting. Some go even further and offer betting on practically every competitive eSports. In terms of events, all major events are usually covered, and some eSports betting Bitcoin operators offer betting on a wider scope of competitions and events.

Just like traditional betting, the potential winnings depend on the odds of the selection or selections on which the wager is placed. There are multiple odds formats, with decimal, fractional and money-line (American), being the dominant ones. Decimal odds tell you how much you’re going to win if your bet is successful, including the stake. With fractional odds, the original stake is excluded from the calculation (you still get your stake though), whereas with money-line odds, you’ll know how much you can with a $100 wager (if it is a positive number) or how much you need to wager to win $100 (if the number is negative).

You can place a wager on just one selection, a single, but you may also include multiple selections in your bet slip. You can even combine eSports betting selections with traditional sports selections. Once you add multiple selections to your bet slip, most operators will give you the chance to choose what type of a bet or bets you’d like to place.

You can place individual (single) bets on all or some of the selected matches. Single wagers have only to possible outcomes, either win or lose. But, you may also place an accumulator (parlay) bet on all selections, or choose from a range of system/combination bets. More selections equals more possible combination bets.

eSports Betting Markets

eSport Betting by GameThe specific markets that are offered for each game or event depend on multiple factors, most notable the particular eSport, the type of event and its popularity and the policy of the individual bookmaker. Match betting is the most common market, as the name suggests it is betting on which team will win a particular matchup. In the case when a game might end in a draw, that option is also offered.

In addition you may bet on the total number of rounds, depending on the game and the chosen format, there can be only over/under option, or multiple. Moreover, you can also bet on the outcome of individual rounds, i.e. whether a team will win round 1, 2, and so on, as well as how many rounds will it take before one of the teams claims a victory.

Handicap betting is also offered. With handicap betting, one of the teams is given an imaginary lead, in order to eliminate the difference in quality and provide equal winning odds for both teams. Other more specific bets are also available. For example, betting on what team will draw first blood, or which one will be the first to reach 10 kills, or 15 kills is also available.

So called future bets, or prop bets are bets on the outcomes of eSports tournaments as a whole, rather than individual match. You may bet on which team is going to win, whether a European, American or Asian team will win, how many matches it will take a particular team to win the final series, who will be the most successful player and so on.

And for individual eSports that are offered for betting, every Bitcoin eSports betting operator offers at least the most popular eSports such as Counter Strike GO, Dota 2 and League of Legends. Games like Overwatch, Starcraft 2 and Halo are also available for betting at many webistes. The eSports scene is a very dynamic one, new popular games appear and old ones fall out of favour, so don’t be surprised if the list of offered sports is updated frequently.

FAQ

Is live betting available on eSports?

Yes, many operators allow live betting on eSports. You’ll just need to open the live betting page and there you’ll be able to see all events that are available for live betting, including eSports events.

Can I bet on eSports using Bitcoins on my mobile device?

Yes, most eSports Bitcoin betting operators are mobile-friendly and support multiple mobile devices (smartphones and tablets). You’ll just need to open the website in your mobile browser and start betting, just like with the desktop version.

Is the cash out option available on eSports wagers?

Yes, betting websites that offer cash out, usually offer it for eSports wagers as well. Make sure you check before placing a wager, whether that type of markets/bets are available for cash out.

Are there any fees or commissions on Bitcoin deposits/withdrawals?

Most operators don’t charge any extra fees or commissions on Bitcoin payments. In the cases where Bitcoin deposits are accepted, but the accounts are in a different currency, your Bitcoins will be converted at the current rate.

If the Bitcoin value grows from the moment when I make a deposit/win a bet, up to the moment when I request a withdrawal, will I be receiving the difference?

Yes, as long as your eSports betting account is in Bitcoins and there’s no need to convert your payment in another currency, you will receive the same Bitcoin amount that you were initially supposed to receive, but your Bitcoins will be worth more on the market.

Conclusion

Bitcoin betting is a great option for eSports betting fans who value their anonymity. Payments are safe, reliable and fast, and the betting options are multiple. There are no principal difference between Bitcoin eSports betting and traditional sports betting with standard currencies. Bitcoin use and eSports are two industries that are growing quickly, therefore we can expect Bitcoin eSports betting to grow as well.