Bet on LOL
Betting on esports League of Legends
Despite being a newer form of entertainment, esports have become a lucrative industry, especially thanks to the ever-growing number of betting operators which will no doubt invest in this industry, with an in-depth look into popular games such as League of Legends (LoL). Because of the massive following of this popular online game, the revenue coming from advertising, in-game merchandise, and live streaming fees amount to billions of dollars. The diverse economy of LoL e-sports created millionaires from teenagers and twenty-somethings who were deemed before as “shut-ins” or “computer nerds.”
But even if you are not a professional gamer, you can still have your fair share of success just by being a fan of the game. With the league of legends betting, you can earn money, and support the entire e-sports economy. However, this act is not as simple picking a team and putting your money online. Check this post to learn more about LoL e-sports betting.
League of Legends esports at a Glance
When it comes to huge online gaming events, nothing really beats the League of Legends World Championship. This epic online competition is considered as the “big daddy” of all the professional gaming tournaments in the world.
If you want to earn big betting on League of Legends, the Worlds is the event that you should look out for. Competing teams from around the world are gathered. The different stages include the Group stage, Quarterfinals, Semifinals, and finally, the Championship. These different stages are held in different parts of the world.
Here are some staggering statistics about the competition:
- In 2015, the man-hours spent on watching the World Tournament reached 360 million hours via live streaming alone.
- The total cash prize that Riot handed out to pro gaming teams reached 8.41 million this 2016. This was more than four times the amount of the prize pool in 2011.
- 36 million people viewed the 2015 World Tournament between SKT T1 and KOO Tigers.
- There are almost 100 million unique LoL players a month.
- Riot Games, the developers of LoL, achieved a revenue of $1 billion through in-game purchases.
Despite being just a “fancy computer game,” the industry has certainly become large and profitable enough to create an economy for both casual and professional gamers.
Registering and Placing a Bet
Before betting on LOL, you need to register first on a legitimate sports booking site for the game. When choosing a website, the factors that you need to consider are the safety measures, betting process, the reputation of the site, promotions, and the user interface. For starters, make sure that the websites have a 128-bit Secure Socket Layer technology so that the personal information you give them is safe online.
You can read all of these on the betting websites, but you can also check forums and reviews for extra measure.
You also need to consider the country where you are living. Some sites only accept bets from US residents. They may ban states with stricter online betting policies such as Delaware, New Jersey, or Nevada.
Gifts for New Customers
Most websites also offer bonuses to first-time bettors on their initial deposit. This is like a welcome gift to all of their new subscribers. Generous bonuses can help you start your betting career on League of Legends.
However, these gifts come with terms and conditions, and it may vary from one bookmaker to another.
Betting with Bitcoin
Aside from wire transfers and credit card payments, some betting bookmakers also offer Bitcoins as payment. This is a new form of virtual currency that can be obtained by “mining” and trading them online.
You need to create a Bitcoin wallet and store your Bitcoins there to pay the bookmakers. But since the virtual currency is quite new, expect that there are only select online betting sites that offer this mode of payment. You can stack up on your Bitcoins now and use them in the future.
Basic Betting Terminology
Once you have registered to an online betting site, you need to learn a few terminologies before actually making a bet. See the list below:
- Bookie – the shorter version of Sportsbook. This is the online site or entity accepting the bets.
- Exotic – other wagers excluding the straight bet.
- Favorite – the team that’s easily predicted to win.
- Hedging – betting on both opposing teams to reduce losses or ensure that you still earn something from the game.
- Line – the betting odds on a gaming event.
Thankfully, e-sports only has few terminologies, so you still have time to learn them all if you start today.
Main LoL Events
The LoL Worlds Championship only comes once a year, despite being such a popular tournament. However, there are still numerous high profile League of Legends tournaments where you can place your bets throughout the year. They are not as prestigious as the Worlds, but they are fun to participate in, and they are teeming with popular pro gamers.
There was the All-Star Event that happened in LA last December 2015. In this tournament, fans voted for the top gamers who would represent their regions and create their own dream team.
Stay Up to Date with the Pro Teams
Aside from the players’ performance in the game, there are several factors that will affect your betting choices. If a powerful team suddenly changed their roster, this can affect their performance during the competition.
As an online bettor, you need to be updated with what’s happening with the individual players, coaches, and even the team managers. Aside from the popular teams, you also need to watch out for those promising rookies and invest on them if you discover their potential.
LOL betting can be an exciting way to earn money while supporting the game you love at the same time. The e-sports industry is vast and it is growing at a rapid rate, so you can surely enjoy it for a long time. However, betting is also a science.
If you are new to the scene, you need extensive research on the teams and the people behind the tournament. After you have gained knowledge about League of Legends, your next step is to find a reliable bookmaker with solid security features, user-friendly interface, and generous deposit bonuses. Good luck with your venture on e-sports!