Esports Crypto Betting About To Explode Together With Crypto Gaming
If there is one thing we are sure about the future of eSports, it is that the eSports industry is rising inexorably. Especially with the Covid-19 pandemic that started in 2020, an excellent orientation to the game industry has begun worldwide. However, during the same period, the rise of blockchain-based games had also become inevitable. Looking at the global scale, private investments of the eSports and gaming industry in the first half of 2021 have more than tripled compared to previous years.
In addition to these developments, another important issue was that we started to hear the name of Crypto Gaming with NFT games and the virtual reality market in 2021. Undoubtedly, it was impossible that these critical turning points we experienced in 2021 did not create a domino effect.
Future virtual reality and augmented reality games could be the shining star of the eSports industry.
eSport, Crypto Gaming, and Blockchain technologies influenced each other, creating a huge ecosystem. In the midst of these developments, it was almost impossible not to affect the betting industry. And it was so.
With the unmatched rise of the eSport World, the number of users betting on tournaments of CSGO, Dota 2, League of Legends, and other competitive games has reached millions. After high demand, many betting sites that want to take innovative steps started testing Cryptocurrency and various Crypto Gamings.
In this article, we would like to talk about the Esport crypto betting relationship with Crypto Gaming. If you’re ready, let’s get started.
Esports Crypto Betting and Crypto Gaming
As we said at the beginning, it is not a surprise for us to watch the rapid spread of blockchain technology in the betting industry. Crypto casinos and eSports betting are gaining high popularity day by day. First, we need to answer this question.
What is Crypto Betting?
Actually, it’s not that hard to understand the name. In short, it has a general meaning that you can bet online with Cryptos. However, this betting process does not take place with traditional payment methods such as a bank, credit card, or gift card. Instead of these, Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Solana, TRX Tether, and BnB are used for Crypto betting.
The only difference can be seen as payment methods, as you can see, because you can play the same games by depositing normal money on traditional online betting sites. However, recently this has started to change. Crypto Gaming, or NFT games with its common name, started to grow by creating an earthquake effect in the market.
Some of the types of bets you can play with Crypto betting are;
- Roulette, Blackjack, Baccarat, Slots and Video Poker
- eSport games(CSGO, Dota 2, League of Legends, Call of Duty, Valorant, Rocket League, etc.)
The area where Crypto Betting gets the most engagement is definitely the eSports industry. Betting on CSGO or Valorant eSport matches where the competition is high can be seen as both an enjoyable and an easy win because eSport matches can be easily predicted with detailed performance analysis. However, we still advise you to be careful. Therefore, it will be better for you to find a reliable eSports betting site and also a blog that shares eSport news (or a mix of both) that you are sure of its reliability.
- Traditional Sports Sites (NBA, Football, NHL, NFL, etc.)
As you can see, from many perspectives, Crypto betting works like any other online betting site. In fact, the only difference is that the payments are made with Cryptos, and anonymity is ensured.
What is Crypto Gaming?
In fact, we have come to the distinction between Crypto Betting and traditional betting sites. Traditional games have a centralized system. This means that all the items, experiences, and valuables you earn while playing the game cannot be used in other games. Crypto Gaming’s revolutionary idea has also changed by combining it with blockchain technology. Now, players will be able to use the valuable items they earn from the games on various Crypto gaming platforms.
Crypto Gamings offer players a different model of making money. You’ve probably heard this if you’re tech literate. The name of this model is play-to-earn. For example, let’s consider Axie Infinity, which has managed to reach thousands of people since its debut. In short, Axie Infinity is an online video game based on ethereum and NFT.
You play with your character named “Axies” in the game. And you buy and breed your Axies to earn in-game currency called SLP. You can also sell or buy each of your Axie on exchanges outside the game. In short, you can trade it in NFT markets. You need at least three Axies to start a war in the game.
As you can see, the idea of being able to earn Crypto while playing games, and considering that you can use these Cryptos on different platforms, you can understand how revolutionary it is.
The Relationship Between Crypto Gaming and eSport Crypto Betting
Metaverses and NFTs are seen as the future of the internet, thanks to significant breakthroughs in 2021. In particular, PewDiePie, which has more than 100 million subscribers on Youtube, supported a game called Wallem, which offers blockchain-based augmented reality support. Wallem uses NFT and Ethereum base in the items in the game.
The fact that publishers with millions of users are able to attract such attention to games makes the development of the eSports industry inevitable. The best example of this is the eSport industry reaching a volume of 1 billion dollars in 2021. Analysts expect this rise to reach $6 billion in the coming years. Especially considering the hype created by Metaverse and Web 3.0 today, the eSports industry will grow rapidly with Crypto platforms.
So, how is eSport Crypto betting affected by this situation? It’s actually very simple. More gamers will use Crypto, which in turn will lead to more bettors on eSports to use Crypto. The more inclined there is to the eSports industry regarding Crypto Gaming, the more gaming communities begin to use Cryptocurrency.
As you know, these developments have already started to happen. First of all, most eSports betting sites started using the most popular Cryptocurrencies as payment methods. Chief among these are Doge, BNB, LTC, ETH, TRX, and Tether. Likewise, many Crypto platforms also sign sponsorship agreements with eSport teams in CSGO, Dota 2, League of Legends, and Valorant. Considering that the eSport audience is tens of millions of people in line with these agreements, more and more players continue to meet with eSport Crypto betting.