The Pros and Cons of Betting on Multiple Esports
In a recent discussion of Hulu’s new set of esports shows, we talked briefly about what it means to be an esports fans. While major corporations and other outsiders live under the impression that esports viewers are fans of esports, those on the inside know better. While there is a lot of crossover between fans of League of Legends and fans of DotA2, this doesn’t necessitate that those fans are fans of esports on the whole. However, when we discuss betting on esports, things are a little bit different. For esports betters, there is little difference between the two games.
eSports betting done well is a focused and fun activity, but it is still born of a want to participate in an event. Because of this, there is some divide between the esports better and the esports fan inside of all of us. The question must inevitably come up: should I bet on more than one esport? The answer, objectively, is to bet on whatever esport or esports that you like. As long as you are enjoying yourself and making responsible decisions, I will never be able to tell you what you should or shouldn’t bet on.
However, betting on multiple esports does come with its pros and cons, as anything does. If we are looking to bet for winnings over betting for fun, then this decision becomes much more nuanced. It is no longer a question of what you will enjoy more, but what you will perform better doing. In this article, we will discuss the pros and cons of betting on multiple esports, and the factors that you must weigh when deciding which esport to bet on. We will go over that last part more in-depth in a later article, so make sure to check back for that.
The Pros of Betting on Multiple Esports
Betting on multiple esports provides one major benefit: volume. It is as simple as that. Unlike traditional sports, esports have no true offseason. However, there aren’t always major events to be betting on. When we choose to bet on multiple esports, there are suddenly more opportunities for us to bet. Everyone knows that the stakes get higher for esports betting just as they get higher for playing the game. If you could bet on every HCT Championship, every League of Legends World Championship, every Magic: the Gathering Pro Tour, and every DreamHack main event, then you have more chances to get the payday that you are looking for.
Another benefit of betting on multiple esports is the option to say no. Because of the added volume, you are able to walk away from bets that you may not want to take. If the stakes are too high, too low, or you just have a bad feeling, you can safely move on to a different event without missing out this week, month or year. In this way, betting on multiple esports provides a sort of arbitrage that allows you to bet freely without consequences.
Finally, betting on multiple esports can simply be more fun.
If you wish to enjoy multiple esports, the same can be said. If you have been talking about picking up Smash again since your Nintendo 64 broke, then you now have an excuse to. If you are confident in your knowledge of multiple esports, the rewards will far outweigh the consequences. Remember that even a smart better is betting on esports and not stocks because they enjoy it, and you shouldn’t be here if you don’t.
The Cons of Betting On Multiple Esports
Of course, you can’t just bet on everything. Since we know we can’t take every bet every time, then we know there must be some drawback to betting on multiple esports. Perhaps unsurprisingly, the same thing that is the biggest benefit to betting on multiple esports is the biggest detractor to betting on multiple esports: volume.
Even the quickest betters will not refresh the page enough, or simply skip over some amazing odds because their attention is elsewhere. We must be wary of how many events, exactly, we are trying to bet on. Make it too many, and it will surely come back to bite you.
We must also avoid betting on too many esports because we will reach a point of diminishing returns. Let’s say, for example, that you bet on the weekends only as a side hustle. During the week, you manage to fit in about 15 hours of reading news, watching videos and listening to podcasts about esports, because it’s taking a backseat to work, the gym, and your girlfriend. In that 15 hours, how much knowledge are you able to gain? Is it enough to bet intelligently on the weekend? If you are only betting on one esport at a time, the answer is a definitive yes. When you move on to two, you may be a little behind, but you won’t have too much catching up to do. The issue comes when we get to three. At only 5 hours a week devoted to a single esports, you aren’t likely to get a “big picture” concept of each esport you are betting on. At this point, you are gaining potential from the outside, but likely losing out in the long term.
Conclusion – Factors to Consider
Now, with those things all understood, with the pros and cons all clearly laid out, the things we must consider become clear. While there are smaller factors, there are two big ones to stay on top of and those are:
- Do you enjoy watching all the esports you are betting on?
- Do you have enough time to bet on multiple esports?
The answers to neither of these questions are binary. You might enjoy League enough to watch, but not to watch all of the time, and you might have the time for 3 esports but not 4. Take the time to test and quantify your limits, and it becomes easy to maximize your esports betting potential.