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Making More Money With Esports: The Betting Alternatives

World of esports is gradually evolving and becoming more versatile. The esports betting is also getting popular among the videogame enthusiasts. More and more viewers are watching esports, they love to see their favourite players and teams play at their best.

A lot of gamers have learnt that they can make money out of their hobby by participating in esports betting. It gives them a chance to win money by utilising the knowledge of professional teams and individuals. However, if you are not someone who is entirely into esports betting, then there are alternatives for you to benefit from competitive esports.

Here we are going to share some more ways to make money with esports beyond betting.

  1. Player vs. Player Betting

esports-betting-on-self-1280x720Esports gambling with most sportsbooks and online betting platforms is centred around the pros. You simply bet on a player or a team and hope for them to come through.

However, certain platforms allow for player versus player (PvP) esports gambling. This is an interesting option that allows you to bet on your own team or yourself winning a match. Now, you might not have thousands of fans cheering for you in the background or attract thousands of stream viewers, still, with player versus player esports betting you get a chance to bet on your own skills.

PvP allows you to make a wager, play a match and see if you lose or win the bet. Platforms that allow for PvP esports betting feature a matchmaking system.

Let’s understand this with an example.

You join a network and sync your Xbox or Steam profile with the network and wait to be matched with another player or group. The network utilises an algorithm to decide which group will best match your skill level. This is in place to ensure that you are not matched against a professional player who will take your money again and again.

There are all sorts of bets available with PvP wagering. You can bet on simply winning a match or accomplishing a specific task. PvP is a type of esports betting that allows you to have a bigger hand in deciding wagers. You can make a wager based on your own skillset.

  1. Skins Betting

skin-gamingSkins are extremely popular in the video gaming community and also a topic of a bit of controversy. Essentially, these are cosmetic items or skins that do not have any impact on the actual gameplay. These are included by gaming companies as a fun factor. They are sort of collectables and can worth a lot of money if they are rare.

Common skins include outfits, pages and gun camo.

Different games have different skins and you receive them in between actually playing the game. These items drop in between gameplaying for you to take. For example, in Counter-Strike: Global Offensive (CS:GO), random drops happen when you’re playing the game online through the official servers. You can also trade these items with other players via Steam.

Steam is a video game distribution platform from Valve. Even there are some trading sites that allow you to sell or purchase skins for cash. They are like the mediators that allow you to sync up with another user and make a transaction.

If you have skins, then you might be interested in gambling them at some point. Skins betting provides you with another way to make money with esports other than direct betting.

There are some skin betting sites that feature casino-style games. For instance, you can bet your skin in an online roulette line. A common way to bet on these sites is as follows:

  • You deposit your skins onto an esports betting site
  • The esportsbook will evaluate your skins’ value and generate a dollar amount
  • If individual items don’t generate enough value you can bet multiple items
  • Then you can use the dollar amount to bet on a match
  • If you win, you will get the original skins Pack
  • Additionally, you will collect skins relative to the team odds that you bet on

One of the reasons why skin betting has been so controversial is the involvement of minors. As this is a form of gambling, that involves wagering with in-game items, there is no requirement of money to participate and users under the age of 18 can easily be part of skins betting without hassle.

If you participate in skins betting, or if you are planning to participate make sure you keep the above information in mind and ensure that you are not betting with a minor.

  1. Streaming Esports Content on Twitch

twitch-streamingJust like YouTubers can make money by running ads with their videos, Twitch allows people from all industries to stream all kinds of videos but the gaming content tops the list.

You can use Twitch to stream the gaming sessions that you play online versus other players. The platform also allows you to chat about video games and related topics. Almost anybody can use this platform and it does not require any special credentials to start a channel and stream your videos.

You can monetise your content on Twitch with the advertising and the revenue you receive will be split 50-50 with the platform. The amount that you earn depends on how many views you get for your videos and content. You can also choose to provide subscribed content for which users have to pay a small fee to view your exclusive streams.

It is obvious that professional gamers have an easy time drawing a crowd and making money which is also the case with attractive women (regardless of their gaming prowess). However, you do not need to be a pro gamer or an attractive woman to excel. You can be successful by slowly building your following and keep producing great content.

A common way to the audience on Twitch is to spend hours chatting between gaming sessions are simply chatting about relevant gaming topics. You can also choose to act during gaming session which seems to attract a lot of followers based on the entertainment factor alone. Generating serious revenue through Twitch is a long and arduous process but if you are able to gain a sizable following, then the hard work pays off.

Apart from advertising revenue and subscriptions, another way to make money is through donations. There are many popular streamers who earn thousands of dollars through donations during a single session.

Esports Betting vs The Alternatives 

Esports betting does not offer you as much control over the outcome as the moneymaking options that we have covered here. PvP, skins betting and video game session streaming allow you to be more in control.

However, esports gambling does allow you to use your knowledge and skills to improve your chances of winning. You can improve your chances by learning how to handicap esports matches like an expert. Learning how to properly manage your esports betting bankroll and make most of esports bonus opportunities, boosts your bankroll. Also, specialising in a few games can help you develop mastery and win more.

In terms of traditional sports betting, esports wagering is very similar as the margin between good and bad bettors small. For instance, in esports, professional gamblers can win between 53% and 55% of their wagers, meanwhile, a bad esports bettor in usually win at least 45% of their wagers.

You have to realise that you are dealing with thin margins between winning and losing in sports gambling which is why you must work hard to gain a small edge that will help you be profitable. Nevertheless, you will find esports betting more lucrative as you can win 53% to 55% of your wagers and with proper planning and strategy even better.

By contrast, skins gambling and PvP betting do not give you such a great chance of winning money. In PvP betting, you are closely matched with a competitor that makes it hard to earn and in skin betting, you are required to acquire extremely rare items before you can make some serious cash.

With Twitch esports streaming you can earn a lot but the problem is it requires some serious amount of time to build a following.

What Option Should You Choose To Make Esports Profits?

Most of the serious gamblers choose esports betting to make money and if you want to become profitable in the long run you should also consider it as your first option.

However, if your true passion does not lie with betting money on pros, you can choose to gamble on skins or yourself or stream content.

All these options can be valid ways to make money from competitive gaming. Of all these options, streaming remains the only way to make big money.

If you are good at playing games, you might find success in player versus player betting, provided you are able to outplay your matched competitor. But as you gradually beat your competitors you will be matched with better players.

If you have a collection of rare items, then you can make serious money by skins betting and selling these items on the marketplace. It does not require any additional skill you can do it just by playing a videogame. But the most likely scenario is you will find lots of common skins that might not have too much value in the third-party marketplaces.

Esports betting is not without faults either as we discussed above the thin profit scope even when you are successful is restricting.

The key advantage here is you can bet more and more money and with good bankroll management, you can capitalise on your edge and make significant profits.

Conclusion

It all comes down to your personal choice. While esports betting provides you with a wide market to make money from competitive gaming, there are other moneymaking routes that you can choose from.

PvP gambling, skins betting and content streaming are the top three viable alternatives to esports betting for making money from competitive gaming. Each of which is lucrative in its own way but not without hard work.

You can make your pick from the alternate is that we have discussed in detail above or you can choose to go a more rewarding path which is to become a pro gamer.

Some of the professional gamers are known to earn millions of dollars through sponsorships and prize pools. But, again the odds of becoming a pro gamer are only about 1 in 10,000 which is why you should focus on other alternatives if you know you’re not a great player.

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