ESports tournaments draw large audiences and prize pools that rival traditional sporting events. European online casinos saw this as an opportunity to engage tech-savvy players and began offering betting markets.
Hing et al. (2022b) discovered that individuals who gamble using skins for esports gambling were seen as socially stigmatized and more dangerous than those using cash or video game funds for betting purposes.
Online Casinos
eSports (competitive video gaming) has experienced explosive growth over recent years, reaching an estimated global audience of 495 million by 2020. Esports draws its appeal from its combination of competition and social engagement that attracts such an enormous following, while it also represents themes such as gamification and ludification that are common to digital cultures.
This convergence provides both industries with exciting opportunities. New investments could lead to job creation in both industries. At the same time, however, regulators face a significant challenge in maintaining responsible gaming practices and protecting minors from exposure to gambling activities. To do this successfully requires stringent age verification measures, raising awareness about the dangers of gambling among young gamers as well as having a deeper knowledge of risks associated with esports betting as well as creating an approach unified approach towards online gambling regulation.
eSports Betting
eSports betting is an emerging form of gambling involving placing bets on competitive video game tournaments and matches. It is popular among younger audiences and is fast-becoming an international industry; however, like all forms of gambling it can lead to addiction and mental health problems; therefore it’s essential that individuals understand how they can recognize signs of eSports betting addiction as well as get help if needed.
Six studies (Abarbanel et al., 2020; Greer et al. 2023a; Hing et al. 2022a; Macey & Hamari 2018a and 2018b) have established that watching esports is positively associated with betting; additionally, many esports gamblers also act as spectators.
Bet on eSports using real money can be an easy and seamless process. Once you’ve picked out your team or market, just click on the odds to determine how much to stake on each bet – most betting sites will then calculate potential winnings automatically and place the bet for you!
Regulations
Regulations surrounding esports betting are integral for its integrity as an emerging form of gambling. Operators licensed and regulated under relevant legislation must uphold these laws to create a safe, fair betting experience for bettors while safeguarding them against potential forms of fraud that can arise online gaming.
Esports (competitive video gaming) has quickly gained in popularity and could become the future of gaming industry. Its appeal lies in the thrill of competition and engaging spectatorship as well as its sense of community, while eSports gambling offers unique features such as head-to-head wagering and placing bets on individual players or investing in teams by buying shares or franchises. Unfortunately, however, eSports gambling is facing increased scrutiny from regulators and anti-gambling advocates, prompting researchers to investigate how different factors impact eSports gambling; doing so will provide insights that could inform policy and develop harm minimization interventions that help mitigate its potential risks.
Legality
Although eSports are becoming increasingly popular, researchers have voiced concerns over its legality. Some experts feel eSports betting should be classified as gambling because money is betted on competition outcomes similar to traditional sports tournaments; however there are numerous distinctions between video gaming and gambling: for one thing eSports tournaments have formal structures and competitive aspects which resemble those found at traditional sports tournaments.
The Supreme Court decision did not determine eSports betting as gambling; rather it allowed individual states to regulate it. Many have introduced legislation specifically banning it. Denoo et al (2021) conducted laddering interviews with esports bettors and found they preferred using virtual currency such as skins rather than real cash for wagers; additionally they reported its extrinsic value was unstable and did not increase self-esteem; additionally frequency of cash betting correlated to increased problem gambling severity.
