In spite of being relatively different from conventional forms of sportsbetting, eSports betting is indeed considered as a sport, and many online bookmakers are increasingly incorporating it in their sportsbooks as a trendy betting option for millions of fans across the globe.Nonetheless, in order to join the millions of bettors that are minting millions from this multi-billion industry, you need to conversant with the betting terms used in this sport. As a continuation to our introductory guides to eSports betting, we will be explaining the meanings of skin, social and challenge betting and how you can profit by betting on eSports.
eSports Betting 101: Skin, Social & Challenge Explained
Skin/Item BettingAlso known as Item betting, Skin betting refers to a form of betting that involves the use of in-game items as currency for betting as opposed to the traditional betting that usually involves cash.For example, rather than staking cash on an eSports game like Counter-Strike: Global Offensive (CS:GO), skin bettors use in-game items from CS:GO as the currency of betting. Upon winning a match or game, the winner is given the particular in-game item that he/she wagered on. Examples of the skins/items that are bet on in skin betting include game weapons and player abilities.While there may be a few concerns in some gambling circles with regards to whether some winnings will be honored (because some players may be dishonest), many—if not all—major sportsbooks have ensured that there is transparency whenever skin/item betting is involved. With such efforts—and the regulations that come with them—skin betting is now enjoyed across the globe as a simple and safe option for marketplace betting.
eSports Betting Popularity Among SportsbooksIt is no wonder skin betting is the most popular betting market in the eSports betting community. Case-and-point; prior to Valve’s crackdown on skin betting in 2016, the total handle across all skin betting sites had reportedly exceeded $7 billion—underlining just how big the industry was, and still is.Depending on your preferred sportsbook and its offers, here are the types of skin betting options you are most likely to find:
- Match betting: Works in the same way as cash betting, with the only difference here being that you bet against another player/opponent rather than against the bookie.
- Jackpot Betting: In this form of skin betting, players risks on items that are equal to a number of tickets in the raffle. The more you risk in jackpot betting the higher your chances are of winning.
- Roulette Betting: This form of betting works nearly the same way as jackpot betting, as you get to risk on a number of items for cumulative value. The difference here, though, is in the fact that items are pooled (let’s say in a bunch of 20, 50 or 100), and the value of your skins in the pool is determines your space in the online eSorts roulette wheel, which then allows you to take spins on the wheel as you try on your luck of winning.