Bet on CSGO: Why legal esports betting can add value to the industry
Gambling and sports are intrinsically linked in the modern world, and esports is going in that direction too. Whether it is DOTA2, League of Legends, Counter-Strike or some other game you love to bet on, there is probably money being staked on it already, and no game lends itself to a bet more than CSGO right now. A combination of the more mature audience and large number of variables within play means the game is ideal for betting, and that development of the market is not going to slow anytime soon.
As with traditional sport, the introduction of gambling brings with it a new breed, those folks who simply view the games as a means to make money, rather than gambling as a fun addition to the event they already love. Massive sports like football, cricket and boxing have all fallen foul to corruption, be it from illegal gambling rings or even governments paying off Olympic judges, and it is naïve to think esports will be immune from this.
What is important for the scene and the future of gambling is to learn the lessons from sport, and try to implement the most effective checks and balances from that area so those that decide to bet on CSGO can have faith in the system. If gambling is allowed to continue unregulated for the foreseeable future, there is an inevitability that stories will emerge of match fixing, especially at the lower level. In fact, if you listen to the most respected journalists in esports, it becomes clear this is already the case, with CSGO matches in Asia almost certainly falling prey to this kind of criminality.
Integrity in the gambling scene matters, whether you bet on CSGO, Dota or any other game
Luckily, for those that like to bet on CSGO, there is an easy way to support this change in the industry, and that is to use sites that are regulated, and therefore must abide by a set of legal guidelines. There are more and more such options springing up, and while some are run by folk who come from the world of traditional sport, there is really no downside to taking advantage of the extra security that offers.
In the UK there is already regulation around this area, with the UK Gambling Commission issusing a position paper on the future of esports gambling and tournaments, meaning companies from the UK are held to a higher standard that was the case. The UKGC believes it can and should regulate esports gambling, and that esports can be handled in the same way as other gambling activities, going forward, which is great news for punters and potential customers alike.
This is not to say that any non-UK firm should be ignored, but there are definitely companies out there that exist beyond the law, and that should be treated with a level of suspicion. Cases like the TMartn one, where an unscrupulous YouTube ‘personality’ duped his fans into using a site he owned by lying about his involvement, have the potential to hurt confidence long term, and show the industry is far from self-regulation.
CSGO betting - understanding the landscape
To be honest the normal refrain from fans, that ‘sports people’ don’t understand esports, doesn’t even work here, as the gambling industry works on its own set of rules and algorithms that aren’t really game-specific.
As a result, you get all the benefits of their experience without the potential for the sort of embarrassing moments the likes of the BBC seem to create whenever they attempt some esports journalism.
Plus, when you do bet on CSGO, you know that your money is going into a regulated system, and there is a pathway for restitution, with legitimate oversight from a governing body. As the scene, and therefore amount of money within the scene, continues to grow, it is essentially that steps are taken to prevent such problems, as they have the potential to shake investor confidence at a time when opportunities abound.
The reward for this is the chance for those of us who like to bet on CSGO to have the sort of scene football enjoys today, and all the benefits that come with that.
Integrity matters to the average fan, and is a small price to pay for a vibrant, exciting betting scene that not only enhances the enjoyment of those using it, but also protects the vulnerable from the exploitation sport has endured.
Bet on CSGO safely and legally
When you bet on CSGO, you want to be sure you do so in a safe and legal environment. Bookmakers who are licensed by top-tier jurisdictions, such as the Isle of Man, are bound by law to protect players.
From a user point of view, this is important because you know the operator can't just take your money and run. The operator and the people behind it have a government body to answer to.
So, it's important to choose carefully when deciding where to place your bets - not only do you need the skill and knowledge to pick a winner, you need to be savvy enough to choose a reputable bookie to take your bets.
Skin betting: an opportunity and an issue for CSGO
As a natural consequence of the esports revolution, a lot of actors and investors are seeing a tremendous opportunity in tackling the esports skin betting market. However, the recent Valve legal crackdown on skins betting, affecting CSGO, demonstrated that this opportunity should not be taken for granted.
In 2016, ESPN reported from Eilers & Krejcik Gaming and Narus Advisors that $5 billion were wagered in skins. The same study estimated cash handle to only $594 million. With 90% of the betting volume on esports being from skins betting, another challenge for actors in place is to make skins betting possible again in line with the real-life laws protecting users and businesses.
Failure to abide by regulations from esports betting actors offering skins betting could harm the CSGO franchise directly itself. Especially with the looming threat of the battle royale games boom. A pity when there is still a strong and mature fan base ready to watch and bet on CSGO.
In a broader sense, the esports environment could lose the emotional traction brought by legal and secure betting if the skins betting offer cannot adapt to legal frameworks. It will end up putting other franchises’ bright future at risk too.
Use crypto to bet on CSGO
The blockchain technological wonders can be used for good. With proper communication between the esports betting actors and regulation bodies as well as a proper uses of the blockchain technology inside a controlled frame, a bet on CSGO could become soon way easier and funnier but above all, safer and fairer.
But a bit like the force, the power of crypto has a dark side to it. As mentioned above, ill uses exist and can be enhanced by cryptocurrency too.
Indeed, it is technically easier to bet anonymously with cryptocurrency and some actors are already taking advantage of this regardless of the harm, unlimited and anonymous access to betting can do to younger generations.
If not tracked correctly, fraudulent transactions and money laundering can be performed too, this is even truer and easier with cryptocurrency transactions.
CSGO skins betting is another practice cryptocurrency can allow flawlessly but for the same reasons can turn out to be an underage betting threat for the industry. If not managed properly, the nature of the transactions can be left completely anonymous thanks to cryptocurrency too.
Fortunately though, the blockchain allows any financial transactions to be tracked, quantified and analysed too. Here again, it is a matter of legal and compliant uses of the technology. For example, it could give regulators a fantastic tool to fight against criminal and socially dangerous practices through real time tracking.
Doing things right will allow esports betting actors to take advantage of the fast, reliable and easy nature of the blockchain.
It is particularly relevant if you like to live bet on action-packed esports like CSGO. Cryptocurrency ensures and guarantees an instant and flawless bet completion as well as instant credits of your winnings.
Live CSGO betting - it's possible now
What about a live bet on CSGO with a single tap on your favorite team’s game-play screen for example? Tempted by a punt on the next kill? That will be possible now.
This is the exact same convenience of use that allows an equally fast reward system enforcement and easy ways to play several games on top of being able to watch the game you bet on for example.
Another massive argument is the transaction fee. What is coming out from your bank account is actually the amount that you will have available on your wallet to bet. This will be true wherever you live on the globe.
In a nutshell, the massive opportunity that is esports and esports betting as a consequence relies on several factors that should not be neglected:
- Ability to regulate esports games and competitions
- Ability to establish a strong regulated framework around esports businesses
- Which will allow esports actors to take full advantage of their technological environment,
- Which will allow esports fans to live the experience they are looking for and more.