Even though eSports betting is still at a nascent stage as of 2022, Canadian establishments like GGBet esport have already made it a big sensation. According to a Statista analysis, the worldwide eSports market, worth over $1.38 billion in 2022, is expected to reach up to $1.87 billion by 2025.
Now, if you are caught up in the jive and want to give eSports betting a shot, this article can help you understand the eSports environment, how the odds operate, what the legal features of eSports betting in Canada are, what the best games to play and things to consider when choosing an online casino. Let’s get started!
What Is Esports Betting?
Esports betting means organized professional online gaming, where bettors wager on competitive online video games. But this video gaming is not against the computer, the players in eSports are as real as the bettors.
Professional video gamers compete online in eSports. To wager on the game’s outcome, bettors watch the eSports as an audience, calculate the odds of winning and place wagers with different bookmakers. Even the bettors are welcome to join in some games and competitions.
How eSports Betting Works in Canada
Complying with the legalized and regulated eSports betting environment, Canada employs the “parlay betting” system. The key benefit of eSports parlay betting is that it can marginally reduce the bettor’s risk while upholding the game’s integrity. Bettor’s confidence is higher, allowing them to wager on more games and events with high-risk, high-reward scenarios and multiple winning elements that collectively affect the odds of winning.
Massive esports tournaments featuring all-star esports teams and players compete in front of thousands of online viewers across digital platforms like YouTube Gaming, Facebook gaming and Twitch, and some of the top Canadian online casinos, which include GGBet Canada, Royal Panda, Bet365, to name a few.
Legal Aspects of eSports Betting in Canada
Canada conventionally engages in regulated sports betting in a system known as “parlay betting,” but recently, Bill C-218 permitted in 2021 reforms the Safe & Controlled Sports Betting Act that permits single-game betting in Canada.
Parlay betting is a type of multi-event wager where winning may be contingent on several factors working together to win. This type of betting may minimize the risk factor while keeping the gameplay fair. Meanwhile, parlays can be hard to win over, in comparison to single-game wagers, which makes it quite overwhelming for casual gamblers and low bettors. Regulating the single wagers would include all more reasonably.
Get Started with eSports Betting: How to Bet for the First Time and Win
The entire eSports environment could be bewildering to new bettors. The number of deals, promotions, new tournaments, and special attractions on online casino sites can seem daunting at first. However, if you move forward one step at a time, everything will stop rattling and begin to make sense. Below is a simplified guideline.
Choosing the Casino
Finding a licensed and reputable online casino is the first thing a bettor must do to have a safe, fair, and fun time betting on eSports. Moreover, when choosing an online casino, have a close review of the terms & conditions and the casino odds, and make sure that the deposit and withdrawal methods are appropriate for you. If you find their promotions inviting, always go through the bonus T&C to have a complete understanding of the fine print.
Signing up for the Online Casino
To sign up for an online casino, all you need to do is go to their website and register with your email and phone number.
Choose Games Carefully
It’s time to choose your games after you’ve set up your account and made your deposits. There are many different genres and types of games available, ranging from traditional favorites like soccer, football, and horse racing to cutting-edge multiplayer online battle arena (MOBA) games like DOTA2 and Marvel Super War. Think about selecting your eSports games based on the odds that have the highest chance of paying off. Below is a table showing the different types of games and the best titles to play.
|eSport Genre||Best Games to Play|
|eSport Tournaments and Sport Simulators||FIFA World Cup, England Premier League|
|First-person Shooters (FPS)||Counter-Strike: Global Offensive, Call of Duty, PUBG|
|Multiplayer Online Battle Arena (MOBA)||Marvel Super War, DOTA 2, League of Legends|
Making a Deposit and Unlocking Bonuses
When you sign up for an online casino, you get a welcome bonus, and to activate the bonus rewards, you must make your first deposit. You may use the bonus money to place bets on applicable eSports games to learn the basics. If you want to withdraw your money, however, you will have to spend some money out of your pocket to meet the casino’s “wagering requirement.” So prepare for that. When making a deposit, you can choose from options like net banking, eWallets like Skrill, and other payment gateways like PayPal or PayU. Other than the traditional methods, bitcoin and other cryptocurrencies are widely accepted in the eSports arena.
Types of Betting Options
Over the years, various esports betting strategies have emerged, encompassing every facet of the esports market, from competitive tournaments to Twitch streaming. The choices are as follows:
- Conventional real money betting, where you pay from your casino balance.
- Outright bets, where instead of making a single wager on a particular game or event, a wager is made on the outcome of the entire competition.
- Pool betting: includes pooling all wagers on a specific market, then paying out the winners the sum (less any fees).
- Total kills: wagering on the specified team’s overall kill count.
Understanding eSports Betting Odds
What are the betting odds in eSports? It is the numerical stat that helps bettors calculate which team has a higher probability of winning. Teams in eSports are featured with odds like 1/2 or 2/1. Users can place bets on the team they believe will win based on the odds offered by the bookmaker. If you like, you can change the format of the esports betting odds at Canadian websites from decimal to fractional or American.
Many types of bettors take the odds figure at face value and just bet on their favorite teams with a preconceived notion about their record. However, you never know when things will change. Furthermore, the odds frequently have an impact on payment percentages.
Numerous bookies take advantage of gamblers who aren’t particularly interested in how odds are used to calculate probability. Your preferred team can be the underdog, which would benefit bookmakers if you bet on them to win. The likelihood is that your team is more likely to lose than to win.
Pro Tips to Win at eSports Betting
Now that you have a basic guideline for eSports betting, here is a roundup of the best practices that could assist in delivering some decent profits while you gamble responsibly.
- Research casinos before signing up, including casino license and registration, security measures, customer support facilities, and terms and conditions for bonuses, deposits, and withdrawals.
- Choose your games and playing strategy before you sign up because if you wish to activate the promotions and use them to the fullest, you will have a limited time to do so after signing up.
- Participate in big tournaments like the World Cup that attract the largest number of bookies.
- Research teams and players, and don’t leave the decision to guesswork or popularity.
- Instead of being emotionally committed to a team, consider winning the odds. Bet against your team if the evidence suggests that they will lose. You will improve your chances of winning by doing this.
Although the idea behind eSports was inspired by traditional sports betting, the ecosystem, games, and entire experience of eSports betting are a little bit different. With features of live streaming, gaming communities, gaming statistics, and social media interaction, the interactivity of eSports betting is at an all-new level. Playing responsibly and consciously is pivotal; don’t play with half-knowledge.