What is Esports Betting Software?
Esports has emerged as a powerhouse in the iGaming market. Valued at a staggering $1.45 billion in 2022, iGaming operators have needed to incorporate Esports betting software into their platforms to meet increasing demand. As Esports tournaments gain mainstream air time and attention, the demand for advanced betting solutions has taken off.
Esports betting software allows players to place wagers on their favorite games and tournaments, like League of Legends, Dota 2, Overwatch and Fortnite. Today, we’ll dive into the world of Esports betting software to explore its functionalities and benefits. Plus, we’ll look at how it’s transforming how we think about competitive gaming.
Understanding Esports betting software
Esports betting software can be either a standalone platform or an addition to your existing sports betting software. It is specialized software designed to facilitate wagers on competitive video game events and tournaments. The software acts as a conduit between bookmakers, casino and sportsbook operators and bettors.
Esports tournaments have exploded in size and scope. For example, Dota 2’s The International tournament in 2022 had a purse of over $40 million. By comparison, only one PGA Tour event, the Tour Championship, had a larger purse. It’s no surprise that Esports betting has taken off, as there are many parallels between iGaming and video games.
What are some key features of Esports betting software?
Real-time odds and betting markets
Like other sports and events available to bettors, Esports betting software is equipped with real-time odds and an array of betting markets. This ensures bettors can place their wagers multiple aspects of a game or tournament, including match winners, map scores and individual player scores.
Many Esports betting platforms can facilitate live streaming. This allows the audience to watch and bet on events in real time, adding an extra layer of engagement and excitement to the experience.
Security and transparency
Much like online casino and sportsbook software, Esports betting software must be fair, secure and transparent. Operators can employ measures like on-chain wagering to execute wagers directly on the blockchain to provide their players with unmatched security standards.
Esports betting software should be designed to be as user-friendly as possible. This will help cater to experienced gamblers and newcomers alike. An easy to use, intuitive interface will go a long way to ensure bettors aren’t being alienated.
Customizable white label solutions
Esports betting software, much like online casinos and sportsbooks, should be customizable. This allows operators to tailor their experiences to fit the needs of their audience and reflect their brand identity. Furthermore, the software should be available as a white label platform. This allows operators to launch their platform quickly while leaning on the experience of a reputable software provider.
What are the benefits of Esports betting software?
If you decide to integrate Esports betting into your platform, there are numerous benefits you can look forward to.
Market expansion and cross promotion
Esports typically attracts a newer, younger audience, which can broaden revenue streams. However, you’ll not only be recruiting new players looking for an Esports experience, but providing your existing players with an additional channel to pursue. If you’re an existing platform operator, cross promoting Esports provides an extra dimension to offer your bettors.
WIth real-time odds and live streaming capabilities, Esports betting is an engaging, immersive experience for fans. It keeps them invested in the outcomes of events and encourages them to stick around.
Esports betting software also generates a significant amount of player data. This is valuable for monitoring betting trends, player performance, and the popularity of the games and events your platform features. This data can be used to make informed decisions and tailor your offerings to suit player preferences.
The future of Esports betting software
As the global popularity of Esports continues to expand, the future is incredibly bright. We expect a plethora of innovative features that mirror other iGaming trends, as well as increased standards for safety, security and fairness. One area in particular that can be expected to see serious growth is mobile Esports betting. As smartphones become more popular by the day, bettors are using mobile devices to place bets and monitor events more than ever before.
Another area poised to make a significant impact on Esports betting software is virtual reality (VR) and augmented reality (AR). Imagine an Esports betting experience that allows you to put on a headset and find yourself in an arena or on a virtual battlefield. Significant advancements in technology are making these concepts a not-too-distant reality.
Furthermore, we expect Esports betting to continue shaping the way Esports are viewed as a whole. Wagering has increased its popularity and financial backing, allowing it to reach a wider audience. This expansion has directly led to more mainstream recognition and media coverage, changing the way “video games” are viewed by the general population.
Esports betting software has become an essential aspect of successful iGaming platforms. Esports has catapulted itself to sit alongside online casinos and sportsbooks, and is growing in popularity at a rapid pace. Real time odds, live streaming and accessibility makes Esports betting software a must-have for operators looking to satisfy the modern player.
As Esports continues to evolve and gain a larger audience, we expect the capabilities of its betting software to grow to create even more immersive, engaging experiences for all.
It’s an exciting time to be a part of the Esports market. If you’re a new operator looking to focus on Esports, or a seasoned pro looking to add Esports betting to your platform, Lion Gaming is here to help. Having a robust Esports offering is paramount, as it ensures you stay up to date and competitive in the iGaming landscape. Contact Lion Gaming today and let us show you how Esports can be a valuable asset to your iGaming aspirations!