The rise of blockchain tech and cryptocurrency has shaken the entire world and the Esports betting industry is no exception to it. Crypto betting on Esports has become a great market due to the rising number of its fans and their massive interest to bet on athletes and tournaments.
The gambling platforms take deposits in different forms of currency including cryptocurrencies.
The betting sites have followed the momentum over the last couple of years of games like Dota 2, CS: GO, and PUBG. These games have grown greatly and have hosted action-packed leagues and tournaments.
Crypto Is The New Token For Transactions
Cryptocurrency has stormed the Esports betting industry. The rise in tournaments being hosted and the increase in fans have forced the hands of bookmakers to strengthen this sector.
There have been several debates if Esports can be raised to the same level as professional ones. The fact that many bookmakers have opened their doors to this market gives the answer to those wondering if Esports actually differs from the traditional ones.
The betting game is similar to the old sports and most bookmakers offer markets on which punters can place their bets.
Crypto is now the best way to go with the rise of metaverse. People buying crypto as an investment is also on the rise.
Esports Crypto bettings offer tons of options without the need to transfer the currency back into fiat. The purchasing intent of Crypto among the UK Esports fanbase has increased massively in the last 12 months, as per consumer data.
Regardless of the operator one chooses, one can still have access to unique features like live betting, edit bets and cash out when risky.
The mixture of Crypto and Esports is basically skyrocketing in the form of teams creating their own currencies, crypto games, and sponsorships.
As per the You Gov data, the proportion of the general UK population likely to use crypto has increased by close to 64 percent (from 11 percent to 18 percent). Esports fans are, generally speaking, young, tech-savvy, and willing to take risks, as are those familiar with blockchain technology.
Shift In The Interests
GenZ has shifted its attention from traditional sports to esports, which has opened up avenues for crypto betting. It is not just that, but Esports involves loads of money as the sector expands, which eventually increases the prize money. This then attracts more popularity and fans and makes them invest more in betting on Esports.
Not just crypto betting but sooner in no time the trend of paying tournament prize pools in cryptocurrency will be the way to go. This appealing proposition will trend-set because esports is an inherently global industry and paying the winner’s prize pool in fiat money is time-consuming and confusing while paying to the global players.
All of this is why the use of cryptocurrency in esports betting is on the rise and going forward it will become one of the most important modes of payment in transactions.
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