eSports Crypto Betting Segment Has Come Of Age

Crypto eSports Betting

Thanks to the new age gambling platforms powered by the likes of blockchain tech and Smart Contracts, the eSports segment is booming. The platform’s growth exceeds expectations and now commands well over $138 billion derived from over 380 million users worldwide. Big industry players, including the likes of Riot Games, Activision Blizzard, and Valve Corporations are reaping huge from this growth. eSports prize pools contribute to its continuous growth which is more significant than those given in other sports. 

Blockchain Casinos

Case in point, the DOTA 2 2018 tournament pulled in a prize pool that was shy of $25 million. That amount dwarfed the $11 million prize money setup for the Master PGA Tour purse for the same year. With such details, we can see the potential eSports integration with cryptocurrency networks holds. 

Unikoin Gold is among the first platforms that are leading in the path of fusing eSports and blockchain technology. We have written a full in-depth UnikoinGold review online if you want to know exactly how this crypto player vs player esports betting platform works. As other platforms make haste to join the two, we shall witness a paradigm shift in the eSports corporate structure. 

As it stands now, corporates such as Activision Blizzard, Valve, and Riot Games, take up the role of the sport, the content distributor, as well as the governing league. Valve Corporation is behind the development of the successful and widely acclaimed DOTA series of games. The company owns the games, creates tournaments, and rightfully distributes the content. When compared to another sport, let’s say baseball, Valve Corporation would own not just the sport (baseball) but the NBL. It would also have exclusive media distribution rights. 

eSports Crypto Currencies and Gaming

In as much as the current model is working and accelerating the industry’s growth, smaller developers are unfortunately locked out of the competition. They face a lot of hurdles trying to get into this market. The only level playing field can be achieved through decentralization which is where blockchain technology comes in. It will allow smaller companies as well as a new crop of developers to put their products into the consumer directly. 

The diversity will also encourage a whole generation of creative games on an open-source crypto eSports platform. Games such as Counter-Strike and DOTA will always be popular; however, cryptocurrency networks will lead to the new generation of titles. It will also mean that players can link their gaming consoles up to decentralized eSports betting platforms and enjoy player vs player gambling for crypto on their favorite game.

Decentralized eSports team management, together with recruiting platforms the likes of Dreamteam, are the perfect indicator of what decentralization can do. It will not only help to make it possible for smaller developers to compete with the marketplace it will also change the current business model. Cryptos hold key advantages when it comes to gambling and the fact that all that take part can be rewarded via becoming a stakeholder and receiving a share of the profits, it will destroy the centralized model where only a few benefits.

What The Future Holds For Crypto eSports Betting

A future where blockchain tech, cryptocurrencies, and gaming merge not only looks promising but is almost happening. Followed by the steady rise in popularity for eSports player vs player betting and the opportunity for developers to monetize and take part in the gaming community, we will soon have afresh gaming platform. It will enable crypto player vs player gaming to take place in a secure environment with no third-parties as everything will be controlled by smart contracts.

eSports Blockchain Issues

On the downside, though, the populace of blockchain gaming comes with its fair share of issues. Scalability factors take up the most prominent piece when it comes to problems. They are stifling the development chances for many games, and need to be addressed before the industry reaches its full potential. Once the hurdle is overcome, blockchain crypto eSports will disrupt the gaming industry.

eSports Blockchain Solutions

There are many different blockchains which all have been designed for certain industries to present solutions that are not possible by the others such as complete anonymity or to resolve volatility such as stable coins. In the crypto eSports betting sector EOS and ETH lead the ways so far due to smart contracts been able to run on their networks and act as a decentralized intermediary. The problems with these are those large transactions that are required for gaming struggle due to the speed of the network. That is why TRON was designed as it is better equipped to deal with the demands of real-time games so when it comes to PVP gaming it is the best.

Cryptocurrency eSports Community Ownership

Gaming is all about communities as thanks to the developments of online technology players can compete against one another rather than an AI computer system. It has led to large communities where fans of the game are joining in the conversation and even trade in-game products such as gaming items. The TRON blockchain is going to add a whole new dimension to this as it has been designed to give all users a shareholding of the project with the percentage dependant upon the number of tokens they own. It means that all of those that take place will be rewarded with a profit share as they are distributed to the coin holders instead of centralized ownership.

Final Thoughts

The gaming industry is experiencing huge growth and it is estimated that it will overtake all other sports in the future. As technology progresses and we enter the age of virtual reality and augmented games it will help fuel the demand to new heights. The blockchain is the perfect platform to takes things to the next level as it will enable eSports crypto betting to take place in a secure environment along with community ownership and greater rewards.

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Daniel Kay is a serial entrepreneur that has been traveling the world living off cryptocurrency for the last 6 years. He has a number of crypto related gambling review platforms along with regularly offers his expert blockchain advice on support and forums. He is the founder of Blockchain Casino Games and has a passion for all things crypto.