It is important to understand the potential risk and rewards of both esports betting and online casino gambling before deciding to pursue either for a living. Whether you are an experienced gambler looking to make some extra cash or a newbie looking to break into the industry, this blog post will help you understand the earning potential of pursuing esports betting and online casino gambling full-time.
Online gambling involves playing games of chance or skill for money by using a remote device such as a tablet, computer, or any mobile phone with an internet connection. Online gambling sites offer a wide range of casino games, including slots, poker, blackjack, roulette, baccarat and more. As technology advances, online gambling is becoming easier, faster and more convenient. With a few clicks, players can join a virtual casino and start spinning the reels or take a seat at a live table.
Esports betting is a form of online gambling that allows you to bet on the outcomes of competitive video game matches. This can be done through traditional online sportsbooks, dedicated esports betting sites or even some of the best online casinos of 2023. The prize money in esports tournaments can be significant, with some events offering millions of dollars in prize money.
Can you make a living out of online casino betting?
While it is possible to make a living from online gambling, it is important to note that it is not a reliable or sustainable source of income for most people. The vast majority of online gambling is based on chance, which means that outcomes are unpredictable and often result in losses. The odds are always in favor of the house, so it's difficult to consistently win and make a profit.
Professional gamblers who make a living from online gambling typically have a high level of skill and experience, as well as access to large amounts of capital to fund their activities. They also use complex strategies to manage their risks and maximize their profits.
When trying to decide whether you can make a living as an online gamer, it is important to understand the differences between online gambling and esports betting:
Requires very little capital to get started
Requires less skill, and can get started right away with basic games such as slots.
Dependent on luck and chance
The more you wager, the higher your winnings can be. Typically, it requires a larger starting bankroll than online gambling.
Requires a good understanding of the game being played to place suitable bets.
Players must research teams and try to make accurate predictions based on historical data.
Can you make a living out of esports betting?
Yes, it is possible to make a living out of esports betting, however, it is important to understand the rules and regulations of the game you are betting on, as well as the odds and potential rewards of each bet you make. The more knowledge and expertise you have of the game, the better your chances of making profitable bets.
Another reason why esports betting is a good avenue to pursue is that it is growing in popularity at a rapid rate. The industry is becoming more mainstream with big-name companies like ESPN and Disney investing in it, which helps to legitimize esports and attract new fans. There are plenty of world-famous esports tournaments to bet on, including League of Legends World Championship, The International and Fortnite World Cup.
If you are already active in the online gambling community, it is also easy to transfer the skills you’ve gained there into this new arena:
Concepts such as probability and risk management are applicable across any form of gambling.
Good decision-making skills can help in both types of games, as well as developing the ability to read people’s reactions.
Knowing how different bets work can allow players to make informed decisions when placing wagers on professional gamers or teams competing in various tournaments around the world.
While so much of what you read about online gambling focuses on gambling addiction, there are also many stories of people who have had great success with online gambling. Perhaps one of the most well-known stories is that of Annette Obrestad, who began her online gambling career at the age of 15. By 19, she won the World Series of Poker in Europe and took home $2m.
Another story involves the mathematician Matthew Benham, who used his knowledge of statistics and algorithms to place bets that were so accurate that he is now worth millions of dollars.
Although esports betting and online casino gambling both offer individuals potential earnings, they are very different experiences. If you like the thrill of competition, then esports betting is a great way to be involved in a fun and fast-paced activity with potential monetary rewards. However, if you require more flexibility when it comes to wagering amounts or bet selections, then online casinos may be the better choice. "