Correct us if we are wrong, but the sports betting giant Pinnacle was the first to introduce esports to the online gambling industry. That happened in the not-so-distant 2010. Since then, many sportsbooks have been launched, but few of them provided their customers with the option to wager on esports. Why traditional sportsbooks still shy away from esports?
The truth is that the online gambling ops are dipping their toes into the esports. They have extensive knowledge and solid data about football, basketball, and other popular sports, but when it comes to gaming tournaments, they have a limited understanding of how things work and how markets should be priced. That’s the reason why traditional sportsbooks offer a relatively limited range of esports events to wager on.
Choosing the right eSports betting site
- Licensing information – Always check for licensing information at the bottom of the main page. If such is missing, you’d better hit the exit button right away.
In the best-case scenario, your sportsbook of choice will be a UKGC, MGA, or Spelinspectionen licensee. There are also some offshore licensees that have already proven their reliability, but the majority of them have predatory terms and you should read between the lines when doing business with them.
- Withdrawal processing – Withdrawals are normally processed within 12 hours (your first withdrawal might take longer as you have to g through an identity verification procedure). However, you should take into account several factors:
- Some casinos have a pending period during which you can re-bet your winnings instead of cashing out
Depending on the payment method you choose, it may take up to 5 business days for the funds to appear in your bank account
- Some casinos review withdrawal requests in certain days of the week only
- Some casinos (usually scam ones) set a minimum withdrawal limit of €100, an amount not always achievable by a casual player who decided to deposit €10 and kill some time while riding the bus.
- The esports coverage
As mentioned earlier, the traditional sportsbooks cover a handful of events, usually the most trending ones. The esportsbooks, on the other hand, offer a wide variety of events, so why would someone prefer a traditional sportsbook in the first place?