There are some things you probably didn’t know about Esports betting. Stay tuned and find out how it all began and where is Esports betting today?
How did eSports Betting come to Life?
Esports betting became very popular in the last couple of years. Every major bookmaker nowadays allows you to place so-called “Esports bets”. However, it wasn’t always like that. In the early beginnings, bookmakers didn’t pay any attention to Esports and they didn’t offer it in their markets. The only way to bet on Esports was “illegal way”.
You had to find other bettors and place personal wagers with them. There were many forums and communities built around that idea. However, it wasn’t perfect because you had to rely on the honesty of some unknown people to pay you if you win.
There was no guarantee for you to get anything out of it. Later, some forums added “middle-man” which kept the money from both sides until the bet is over. The middle man was usually forum admin and he took a 10% cut from each bet.
Which was the Bookmaker to open the doors for eSports?
Although many bookmakers were sceptical about the idea of Esports betting, Pinnacle saw great potential in that market. A decade ago, in 2010, they decided to offer Esports betting markets. It was quite a success and other betting sites began to add Esports as well. Not so long after that, some new bookmakers emerged that were only focused on Esports betting.
Facts about Esports Bettors in 2020
Even though you would think only males bet on Esports, 42% of Esports bettors in the UK are female. Majority of the bettors comes from a range of 25-35 years old. The total money wagered in Esports by 2020 was estimated to be around $13 billion globally. To put that number in perspective, that’s higher than yearly GDP of more than 60 countries.
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