What is Esports Betting?
Esports betting is a form of online wagering on competitive video gaming events. It has increased in popularity in recent years, not just internationally but significantly in the Philippines. Many online sportsbooks now offer esports betting markets, allowing Filipino players to bet on their favorite games, such as Dota 2, League of Legends, and Mobile Legends. Esports betting in the Philippines is regulated by Philippine Amusement and Gaming Corporation (PAGCOR), which licenses and oversees local and international online sportsbooks that offer esports betting. With the growing popularity of esports, many Filipino players are turning to esports betting to enhance their viewing experience and win money. However, it is necessary to practice responsible gambling and only bet what one can afford to lose.
Different Types of Esports Betting
There are several different types of betting available in esports, including:
- Money Line: This is the most straightforward form of esports betting, where players bet on the outcome of a match, choosing the team or player they believe will win.
- Handicap or Spread Betting: In this type of betting, the underdog team or player is given a point advantage to level the playing field. This indicates that the favorite must win by a certain margin for a bet on them to pay out.
- Over/Under: Also known as total betting, this type involves predicting the total score or number of maps played in a match. Players can bet on whether the total will be over or under a specific number set by the sportsbook.
- Futures Betting: In this type of betting, players place a bet on the result of a tournament or league in advance. For example, a player might bet on which team will win the League of Legends World Championship.
- Live Betting: This type allows players to place bets on a match while it is in progress. Odds and markets are updated in real-time to reflect the game’s current state.
It’s important to note that not all sportsbooks offer every type of bet for every esports game. Before placing a bet, it’s essential to understand the available betting options and how they work.
Understanding Esports Betting Odds and Making Smart Bets
The process for reading odds in esports betting is the same in the Philippines as in any other country. The odds formats that are most commonly used in the Philippines are decimal and fractional odds.
Here are the steps to read odds in esports betting in the Philippines:
- Identify the Odds Format: The first step is determining the type of odds format the sportsbook uses. Most online sportsbooks in the Philippines use decimal odds, while some may also offer fractional odds.
- Decimal Odds: Decimal odds represent the total payout that a player would receive on a winning bet, including their initial stake. For example, if a player bets PHP 1,000 on a team with odds of 2.5, they would receive PHP 2,500 if the bet is successful (i.e., PHP 1,000 x 2.5 = PHP 2,500).
- Fractional Odds: Fractional odds show the potential profit a player can win on a successful bet relative to their initial stake. For example, if a player bets PHP 1,000 on a team with fractional odds of 3/1, they would receive a profit of PHP 3,000 if the bet is successful (i.e., PHP 1,000 x 3/1 = PHP 3,000).
It’s important to note that not all online sportsbooks offer every odds format for every esports game. Before placing a bet, it’s essential to understand the available odds formats and how they work. This allows players to make informed decisions and choose the best bets based on risk tolerance and potential rewards.
Popular Esports Games to Bet On the Philippines
Esports has grown in popularity in the Philippines, and as a result, there are several popular esports games that players can bet on. Here are some of the most widespread esports games to bet on in the Philippines:
- Dota 2: One of the most popular forms of competitive video gaming in the Philippines is the multiplayer online battle arena (MOBA) game known as Dota 2. The game has a dedicated following in the country, with frequent local tournaments and competitions.
- League of Legends: League of Legends is another popular MOBA game with a significant player base in the Philippines. Bettors interested in esports often choose this game because of its reputation for high activity levels and competition during games.
- Mobile Legends: Bang Bang: Mobile Legends: Bang Bang is a mobile MOBA game that has become a hit in the Philippines. The game has a growing player base in the country, with many local and international tournaments.
- CS:GO: Counter-Strike: Global Offensive (CS:GO) is a first-person shooter game popular in the Philippines. The game has a dedicated following, and many players enjoy betting on professional matches.
- Overwatch: Overwatch is a team-based first-person shooter game that is gaining popularity in the Philippines. The game has a growing player base, and many local and international tournaments occur regularly.
To mention a few, these are some of the most well-liked esports competitions that can be wagered on in the Philippines. As the esports business continues its rapid expansion, additional games may emerge as popular betting alternatives within the industry.
How to Bet on Esports: A Step-by-Step Tutorial
Betting on esports is similar to traditional sports betting, but there are some unique aspects to consider. How to wager on electronic sports is outlined here.
- Choose a Game: Choose an esports game you are familiar with and enjoy watching. Some popular esports games include Dota 2, League of Legends, CS:GO, and Overwatch.
- Select a Betting Site: Choose a licensed and reputable esports betting site that offers markets for your chosen game. Ensure the site is regulated by reputable authorities, offers competitive odds, and provides a smooth user experience.
- Understand the Odds: Learn how to read the odds, which show how much you can win based on your bet. Odds are typically displayed in decimal or fractional form, and lower odds indicate a higher likelihood of winning.
- Place Your Bet: Choose the market you want to bet on, such as a match winner or the number of kills. Place your bet by entering the amount you want to wager.
- Manage Your Bankroll: Manage your bankroll by setting a budget and sticking to it. Don’t ever “chase” your losses by placing further risky bets, and never gamble more than you can afford to lose.
- Watch the Game: Follow the game to see how your bet performs. Esports events are typically streamed online, making it easy to watch the game live and track your bet in real time.
- Collect Your Winnings: If your wager is a winner, the money will be deposited into your account. You can then withdraw your funds using the payment method of your choice.
By following these steps, you can bet on esports confidently and increase your chances of success. Remember always to gamble responsibly and have fun!
Esports Betting Tips and Strategies
The following are some betting techniques and tips that might help you boost your chances of winning while participating in esports:
- Do Your Research: Research is key to making informed bets. Keep track of player and team performances, past results, and any meta or gameplay changes that may affect a match’s outcome.
- Bankroll Management: Proper bankroll management is crucial to success in esports betting. Set a budget, stick to it, and avoid chasing losses by betting more than you can afford.
- Specialize in a Few Games: By specializing in a select few games, you may improve your chances of winning by becoming an expert in those games, enabling you to place more educated bets and bring in more money.
- Use Multiple Betting Sites: Multiple betting sites allow you to compare odds and find the best bet value. It also provides access to a broader range of markets and games.
- Understand the Odds: Understanding the odds is crucial to making informed bets. Look for value in the odds and compare them across multiple betting sites to find the best possible returns.
- Keep Emotions in Check: Emotions can cloud judgment and lead to poor betting decisions. Stick to your research and avoid betting based on personal biases or emotions.
- Look for Live Betting Opportunities: Live betting can provide opportunities to take advantage of in-game changes and momentum swings. Keep an eye on the game and look for opportunities to place live bets.
The Mistakes to Avoid in Esports Betting
Esports is a big part of the sports betting industry. Betting on gamers and teams can be exciting, but there are risks involved. Our guide covers common mistakes and how to avoid them.
Mistake 1: Not Understanding the Basics
The Foundation of Successful Betting
Before diving into the world of esports betting, it’s crucial to grasp the fundamentals. Esports encompasses a wide variety of games, each with its own unique rules, strategies, and dynamics. Whether it’s League of Legends, Dota 2, Counter-Strike, or any other popular title, understanding the game is paramount. Without this foundation, you’re essentially placing blind bets.
Take the time to learn the rules, game mechanics, and the intricacies of the esports titles you wish to bet on. Familiarize yourself with the strengths and weaknesses of different teams and players, as well as the strategies they employ. Knowledge is your greatest asset in this endeavor.
Mistake 2: Betting on Unfamiliar Teams
Research, Research, Research
One mistake many new bettors make is betting on teams they are not familiar with. Just because you support a team doesn’t necessarily mean they are a reliable choice. In fact, loyalty to a team can often impact your judgment.
To avoid this mistake, it is important to research the teams and players involved in a match. This means analyzing their recent performance, head-to-head statistics, and any changes to the roster. Making informed decisions based on data rather than personal bias is key.
Mistake 3: Betting with Emotions
Leave Your Heart at the Door
Esports betting should be driven by logic and analysis, not emotions. It’s natural to have a favorite team or player, but allowing your emotions to influence your bets can be detrimental. Your loyalty to a team won’t guarantee their success in a match.
Always make rational decisions based on objective factors such as recent form, team composition, and historical performance. Detach yourself from personal preferences and focus on the numbers.
Mistake 4: Chasing Losses
Know When to Walk Away
It’s important to accept the loss when you lose a bet and avoid the temptation to bet more money on the next match to try and recover your losses. This is a common mistake made by many bettors and can often lead to even bigger financial setbacks.
It is crucial to set a budget for your betting endeavors and adhere to it to prevent any negative consequences. In case of a losing streak, it is advisable to take a pause and reassess your methods. It is vital to never bet beyond your means.
Mistake 5: Betting Excessive Amounts
Bet Responsibly
One of the cardinal rules of gambling is to bet responsibly. It’s crucial to set a budget for your esports betting endeavors and adhere to it strictly. Avoid the temptation to wager more money than you can comfortably lose, even if you’re feeling confident about a particular bet.
Remember that responsible betting ensures that your enjoyment of esports betting remains sustainable in the long run.
Additional Mistakes to Avoid
In addition to the above-mentioned mistakes, there are a few more pitfalls to steer clear of:
Ignoring the Odds
When placing bets, always consider the odds offered by different bookmakers. Odds reflect the potential payout of a bet, and comparing odds from various sources can help you maximize your potential winnings.
Betting on Too Many Matches
Focusing on a few select matches is key to effective betting. Betting on too many matches can lead to information overload and decreased accuracy in your predictions. Concentrate on in-depth research for a handful of games rather than spreading yourself thin.
Neglecting Bankroll Management
A well-defined bankroll management plan is essential for responsible betting. Determine how much money you’re willing to wager on each match and establish a clear limit for losses. Stick to this plan to maintain control over your finances.
Avoiding External Influences
While it’s helpful to gather information and insights from experts and analysts, don’t let their opinions sway your decisions entirely. Make your own judgments based on your research and analysis.
Conclusion
In a nutshell, consider this your go-to esports betting guide for navigating the thrilling landscape in the Philippines. It’s like having a friendly coach walk you through the essentials, from the basics to savvy strategies. This isn’t just any guide – it’s your key to an enjoyable adventure where clever decisions, responsible gaming, and the sheer thrill of competitive play unite. So, with this betting guide in hand, plunge into esports betting, enjoy every moment, and who knows, you might just find success along the way! Happy betting!
FAQS
What is the easiest eSports to bet on?
- Counter-Strike: Global Offensive (CS:GO): A classic 5v5 tactical shooter with clear objectives and rounds.
- Call of Duty League (CDL): Similar to CS:GO, another fast-paced shooter with clear win conditions.
- FIFA: If you understand soccer/football, the transition to betting on FIFA esports is relatively smooth.
- Overwatch League (OWL): Team-based shooter with diverse characters and abilities, but objectives are still apparent.
How can I stay updated on esports news and events to make informed bets?
To stay informed, follow esports news websites, watch esports tournaments, and engage with the esports community on social media platforms. Keeping up with player/team performance and game meta changes is crucial for making informed bets.
Are there any risks associated with esports betting?
Yes, like any form of betting, there are risks involved. It’s important to set a budget, practice responsible gambling, and avoid chasing losses. Esports betting should be seen as a form of entertainment rather than a guaranteed way to make money.
Can I bet on live esports events?
Yes, many esports betting sites offer live betting options, allowing you to place bets while a match is in progress. Live betting can be exciting and offers opportunities to react to in-game developments.
How do I deposit and withdraw funds on an esports betting site?
Online betting users have different choices for payment methods. They can use credit/debit cards, e-wallets, and bank transfers to add money and take out winnings.
What is the minimum age to participate in esports betting?
The minimum age to participate in esports betting varies by country and platform but is typically 18 or 21 years old. Ensure you meet the legal age requirement in your jurisdiction before betting.
How can I address issues or disputes with an esports betting site?
If you encounter problems with a betting site, reach out to their customer support for assistance. Many reputable sites have responsive customer support teams that can help resolve issues or disputes.
Can I bet on esports events that I'm participating in as a player?
Betting on events in which you are directly involved as a player is considered unethical and can lead to severe consequences, including bans from tournaments and legal action. It’s crucial to maintain fair play and integrity in esports.
FAQS
How can I stay updated on esports news and events to make informed bets?
To stay informed, follow esports news websites, watch esports tournaments, and engage with the esports community on social media platforms. Keeping up with player/team performance and game meta changes is crucial for making informed bets.
Are there any risks associated with esports betting?
Yes, like any form of betting, there are risks involved. It’s important to set a budget, practice responsible gambling, and avoid chasing losses. Esports betting should be seen as a form of entertainment rather than a guaranteed way to make money.
Can I bet on live esports events?
Yes, many esports betting sites offer live betting options, allowing you to place bets while a match is in progress. Live betting can be exciting and offers opportunities to react to in-game developments.
How do I deposit and withdraw funds on an esports betting site?
Online betting users have different choices for payment methods. They can use credit/debit cards, e-wallets, and bank transfers to add money and take out winnings.
What is the minimum age to participate in esports betting?
The minimum age to participate in esports betting varies by country and platform but is typically 18 or 21 years old. Ensure you meet the legal age requirement in your jurisdiction before betting.
How can I address issues or disputes with an esports betting site?
If you encounter problems with a betting site, reach out to their customer support for assistance. Many reputable sites have responsive customer support teams that can help resolve issues or disputes.
Can I bet on esports events that I'm participating in as a player?
Betting on events in which you are directly involved as a player is considered unethical and can lead to severe consequences, including bans from tournaments and legal action. It’s crucial to maintain fair play and integrity in esports.
