By Mitch Rice
More than just a fun pastime, video games comprise a billion-dollar industry that continues to transform and cater to audiences’ changing needs and preferences. For instance, a previous post discusses how much video games have evolved over the years, from starting out with gaming consoles like Atari to modern video games like Candy Crush and Call of Duty being playable online across many devices like mobile phones. In the same vein, the data consumed by video games has also significantly changed, now requiring a higher latency and download speed of at least 100 Mbps to ensure a smooth gaming experience.
Another interesting technological development in the video game world is the rise of the global esports industry, which involves professionally organized video game competitions between teams or individual players. Due to key factors like technological developments, increased investments and sponsorships, and strong community and fan engagement, the esports industry has gained impressive viewership and is even expected to reach a value of $11.94 billion by 2030 at an exponential growth of 27.6%.
Besides these growth factors, the emergence of betting platforms is another driver for expanding the esports industry’s audience. Although it’s similar to traditional sports betting in terms of betting markets and odds systems, esports betting involves placing bets on video games with unique mechanics and tournament formats. Below, we highlight immersive esports betting experiences and how these can influence players’ strategies for continued enjoyment and financial gains.
Immersive esports betting experiences
Live streaming
As esports gambling becomes a rapidly rising segment in the industry, betting platforms must provide innovative ways to let the audience experience the game firsthand and pick up valuable information that can help them place bets. Fortunately, esports live streaming platforms have greatly evolved, as exemplified by DATA.BET’s new tool that facilitates a real-time viewing experience on operators’ platforms. In collaboration with Bayes Esports, the video streams aim to minimize delays by offering broadcasts directly from tournament organizers. Thus, platforms can leverage this tool for high-quality, low-delay video feeds for a global audience in need of live betting expertise.
Cryptocurrency payments
Another way betting platforms are making esports more engaging is through the expansion of payment methods. Whereas traditional sports betting relies on fiat currencies via online payments, more and more online casinos allow esports bettors to benefit from the speed, convenience, and security of cryptocurrencies like Bitcoin. Since incorporating cryptocurrencies into the betting system involves highly advanced blockchain technology, there’s also the potential for including NFTs in their accepted payments, as these game-based tokens or collectibles can boost player engagement and satisfaction through unique ownership.
AR and VR technology
Lastly, augmented and virtual reality technologies have been around for years, but they’re also being adopted by esports betting platforms for a more otherworldly experience. To simulate the thrill and excitement commonly associated with traditional sports venues, esports betting sites and introduced AR and VR features to allow users to explore virtual sports areas and place bets on their favorite teams and players.
Esports betting strategies
While the previously mentioned trends and developments help introduce esports as a highly engaging and entertaining industry, those interested in participating not only through viewership but also betting must still develop a strategy to benefit from online platforms.
Beyond seeking enjoyment, players, especially beginners, can maximize profit potential by adopting the top esports betting tips. These mainly focus on doing research, from understanding the history, tournament format, teams, and rules of popular esports betting games like League of Legends to familiarizing oneself with the betting odds for a more informed decision-making outcome. Additionally, players must use staking methods like the proportional method to help them decide their gambling budget and avoid huge financial losses.
As the trend of crypto-friendly esports betting sites was also discussed, players must also be aware of the safety and reliability of their chosen cryptocurrency for financial risk management. Research shows that while 17% of US adults have invested in, traded, or used cryptocurrency, 45% of them have expressed that their crypto investments performed worse than expected and hence hurt their personal finances. Besides researching esports gaming rules and odds systems, those opting for crypto payments are also tasked to monitor market conditions like price and valuation for maximum gains.
Ultimately, regardless of the esports chosen or the payment method used, individuals holding a stake in the industry through betting platforms must also remain updated on local and national regulations on online gambling. This is especially crucial as governments tend to further regulate high-profit fields like esports gambling.
Data and information are provided for informational purposes only, and are not intended for investment or other purposes.
