Esports arena: Technological advancements in esports betting

Not so long ago, esports consisted of a group of friends hosting LAN parties and playing video games deep into the night. Nowadays, it’s a fully developed big-money industry with professional gaming tournaments and leagues.

As competitive gaming has shown tremendous growth in viewership and revenue, it has caught the eye of online bettors and sportsbooks. Today, there are countless sites that offer spectators an opportunity to bet on esports games and tournaments.

This money and attention has fuelled R&D efforts to create technological advancements in gaming. These advancements, from blockchain technologies to online data, have made esports betting even more exciting.

Peer-to-peer betting

The ability of spectators to bet against each other without an intermediary has played a significant role in the rise of esports betting. Peer-to-peer wagering started with players betting against each other during their contest. Players also experimented with microbetting, in which they wagered on individual details of the game. These bets are analogous to the first-to-score, odd-or-even, and penalties wagers in football.

One benefit of peer-to-peer wagering is that it boosts the social element of betting. Online betting houses are little more than electronic versions of traditional sportsbooks in some ways. A peer-to-peer esports platform reduces the need for sportsbook services, especially if the platform integrates blockchain technology. Users will need betting websites only to find other users to bet against. This is sure to spur website operators to create compelling new services. In the meantime, users will reap the benefits as unfair fees and untrustworthy bookmakers will be the thing of the past.

Cryptocurrencies

Cryptocurrencies like bitcoin are more widely used every day. Esports betting platforms have been among the earliest adopters of digital currency. Cryptocurrencies are likely to play a significant role in the development of esports betting. The blockchain technology that underlies bitcoin and other cryptocurrencies is a sort of open ledger that can keep a reliable record of games, results, bets, and winnings. Players can always check their transactions and keep track of everything that’s going on – with no fear of being cheated or of having their anonymity compromised.

Virtual reality

Virtual reality has been in development labs for ages, and experts predicted it would be the next big thing – or the big thing after that. It didn’t really take off until Oculus Rift hit the price/benefit sweet spot and created a meaningful installed base. All the leading game makers are working on ways to exploit this fully immersive technology.

The implementation of virtual reality in video games has also affected the esports betting world. Gamblers are now able to bet on virtual games, and virtual headsets give them a 360-degree view of the games they’re betting on.

Mobile betting

The development of mobile technology has had a great impact on esports betting. As most people own some sort of mobile device, gambling sites have made it possible for them to place wagers any time they want, wherever they are. Not only that, but gamblers can also ask for payouts and load their gambling wallets on smartphones and other mobile devices. Because of this, many esports platforms are developing highly functional advanced apps to make their sites more mobile-friendly.

Data

Data has become a game-changer in the world of esports betting. Games can be recorded, rewatched, analysed, and stored in databases where they can be compared.

Bookmakers rely on data for setting reliable, accurate odds for games and events. Esports bring much more data to the table, creating potential opportunities for more sophisticated bets on small events within the game.

Esports betting platforms have access to tons of user data too. This information comes from credit cards, registration, tracking online behaviour, and other sources. Using the data collected from customer behaviour, esports betting platforms can create more powerful advertising campaigns and make the betting experience more compelling and rewarding.

The future looks bright for esports betting, and these technological advancements are sure to give gamblers more control and a more rewarding gambling experience.

Bet Blokes’ Daniel Korolija is an esports gambling and betting expert. He thrives in a fast-paced cyber environment with his team of dedicated professionals and enjoys creating interests and challenges for a target audience. Esports became his passion ever since he saw his first League of Legends World Championship.