league of legends crypto betting
02.11.2022
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The crypto eSports industry is gaining momentum these days, with League of Legends among the…
Crypto esports tournaments
How technology and industries can grow from nothing to big industry can take even the most careful observer by surprise. Before you can digest it all in your head, small areas turn into big, billion-dollar niches. That’s what happened with gaming and gaming tournaments, and that’s what will happen with cryptocurrency and with their common point – crypto esports tournaments.
Crypto in Esport Industry
Cryptocurrency companies have been pouring money into esports for years. You have coins, trading platforms, and investment funds all sponsoring competitions. Bitcoin has been used in the prize pools of several tournaments. And you can even use cryptocurrency to bet on game matches. But what is cryptocurrencies’ obsession with esports, and how do they expect to profit?
One of the reasons cryptocurrency companies are pouring money into esports is that both industries have similar target audiences.
The average cryptocurrency and esports enthusiast is a male between the ages of 18 and 35, tech-savvy, and spends a lot of time online.
Cryptocurrency companies have witnessed the explosive growth of esports and want to convert as many fans as possible into cryptocurrency users. Teams such as Fnatic, Gen.G, Misfits, Cloud9, TSM, and others have begun to partner with cryptocurrencies in this area.
However, paying for sponsorships is just one way that cryptocurrency is shaking up the industry. Let’s consider some of the other paths.
Prize Pools via Crypto
Cryptocurrency offers a different way to fund prize funds in esports. This is because cryptocurrency has less resolution and is decentralized. Moving massive amounts of funds around the world is known to be complicated. It can require a lot of paper and work, fees, and take several weeks. Cryptocurrency runs on a global blockchain, allowing huge amounts of money to be transferred anywhere in the world almost instantly and for a nominal fee.
Cryptocurrency has no borders, so esports tournament organizers can bypass banks and governments preventing them from transferring money. Cryptocurrency can also speed up the payment process. Once the tournament is over, players can get their winnings within minutes. There is no need to wait weeks for the money to arrive in the tournament organizer’s bank account and then wait for the player’s bank to credit the money.
Cryptocurrency can be used by tournament organizers in countries with strict currency controls. Some say they can pay foreign players and transfer money overseas without raising any alarms. Cryptocurrency can also help tournament organizers avoid dealing with highly unstable local currencies. In places like Latin America and other territories, some players may like being able to get bitcoin instead of the local currency.
The great thing about cryptocurrency is that thanks to exchange platforms, cryptocurrency can be converted to fiat currency for a small fee. Some might say that these platforms give players and tournament organizers more flexibility.
Key features of crypto esports tournaments
| Fast and instant transfer around the world, even a big amount of money | Low fees and anonymous global payments |
| A fast-growing field with great opportunities | Cryptocurrency allows you to bet legally, with the lowest commissions |
| The common audience linking cryptocurrency and gamers is young people who spend a lot of time on the screen | Can be used by the organizers of tournaments in their countries, where there is very strict control of the movement of currencies |
What makes crypto esports tournaments accessible for players and fans?
Cryptocurrency facilitates payments. With cryptocurrency, players, fans, and organizers can instantly transfer money around the world. Could this allow a greater number of individuals to enjoy esports? Let’s say an esports fan lives in a country with a currency that is not accepted there, they can use cryptocurrency to buy gaming equipment and even bet on esports matches. Some might say that without cryptocurrencies, this fan would not be able to fully participate in esports because of problems with the global financial system.
Online betting is one of the main uses of cryptocurrencies. Cryptocurrency allows customers to bet on their favorite esports teams without incurring a commission, without breaking the laws of the banks, and while maintaining the privacy of their gambling habits.
The most anticipated esports tournaments in 2022
2022 – 2023 Le Mans Virtual Series
The famous esports series of endurance racing returns with a five-round tour of the virtual Le Mans Series 2022/23. This is the second part of five seasons of endurance racing. The first season of Le Mans Virtual began in September 2021 and ended in February 2022. Teams from a variety of motorsports and esports events are encouraged by a selection committee to participate in the race.
Apex Legends Global Series Year 3
Split 2 and the remaining stages of the tournament will unfold in 2023. In addition to announcing the competition calendar, EA also revealed that AGLS Year 3 will feature a revamped Pro League for regular season matches. Thirty (30) teams can participate in each region’s Pro League, ensuring maximum high-level contest and chances to qualify.
IESF 14th World Esports Championship
The International Esports Federation has held the Esports World Championship since 2009 in order to popularize cybersports as a genuine and valid sport. This year, 2022, the annual championship will start its 14th series, and the host country will be Indonesia.
CS:GO BLAST Premier: World Finals 2022
BLAST Premier World Finals 2022 in Abu Dhabi rounds out the year-long tournament with a grand finale. Against a background of intense battles and exhausting challenges, eight of the world’s greatest teams will face off in a decisive battle for the title of world champion.
Best sites for crypto esports tournaments
MyStake
It is now one of the most successful gaming platforms, especially for its bonuses and well-stocked play library. It has everything players need to have a good time.
Indeed, registering on the platform is almost simple, and there are numerous payment options. MyStake is also one of the most comprehensive online casinos with more than 5,000 different games from top iGaming publishers.
BC Game
This platform has united millions of gamblers and gamers around the world and continues to this day to delight its users with various advantages and bonuses.
22Bet
Founded in 2018, 22Bet continues to offer one of the best possible online betting experiences for all players around the world. First, founded in Europe, and now they are working globally.
Fairspin
You can use Fairspin not only to play different casino games with crypto but also to bet for your favorite sports teams and earn money on that!
Summary
Thanks to the speed of cryptocurrencies, players can deposit and withdraw funds almost instantly. In the past, players may have had to wait weeks for payouts, though this is less common now.
Cryptocurrency also helps esports betting sites offer their services to as many people around the world as possible. Not to mention, operators are saving millions of dollars in commissions by using cryptocurrency, and thanks to the deflationary nature of cryptocurrency, holding cryptocurrency has made some sites a fortune. Cryptocurrency provides fast, anonymous, and global payments with sometimes low fees.
It looks like cryptocurrencies and esports will continue to be linked in the future. Although there is disagreement in the community on this issue, cryptocurrencies will only grow in the future. We expect that the uses of cryptocurrencies in esports will expand as this space matures. In the meantime, keep an eye out for other esports tournaments sponsored by cryptocurrencies you’ve never heard of, as well as the fact that some tournaments will have a bitcoin prize pool.
