eSports Skin Betting
While most bettors are familiar with cash-based sports betting activities, eSports has completely revolutionised what you can bet on, and the type of currency you can use. For anyone actively putting money down on electronic sports, you may want to consider eSports skin betting where you can use a type of pseudo-currency to fund your account.
The Basics Explained
In the world of video gaming, ‘skins’ is the term given to virtual items that can change the appearance of a character or object in the game. For example, in Counterstrike: Global Offensive (CS:GO), the standard knife can be replaced with multiple skins that can change the look and style of the knife. It is important to note that even though the knife looks different, the functionality remains the same.
Interestingly, these skins do not in any way enhance the character or the object it is applied to. In gaming terms, it is a bit like pimping up your character or your weapon. How they relate to eSports betting is quite simple. They have become a type of virtual currency in the gaming community. Using the Steam platform, players swap, exchange and sell their virtual items with other players for Steam credit where they can buy online content like games, additional items or game add-ons.
A New Type Of Online Currency
Outside of the official Steam community, there are plenty of exchange sites where you can buy and sell skins for real money. It is a bit like buying and selling cryptocurrency, except each item has a set price that does not change. They are used on all popular video games, but for commerce they mostly come from CS:GO, DOTA 2 and PUBG.
Since becoming a transferable virtual currency, they can be used for betting on eSports. In the past year alone, dozens of eSport skin betting sites have arrived on the market, giving bettors the chance to place bets using this type of in-game currency instead of real cash. There are even casino and gambling sites where you can make a deposit using this currency and play games like Roulette, Slots or coin flip.
The Wagering Factor
eSports skin betting sites do not accept any form of real cash. When you log on and register for an account you can use the Steam API to transfer credits. The bookmaker will then convert them to virtual coins, which can be used for placing bets online. All wagering is done as per normal, with odds given on matches and tournaments. If your bet is successful, you are paid out in virtual coins that can be used for placing more bets, or cashed out in credits that are transferred to your Steam account.
You may be wondering what the point of using skins for online and mobile eSports betting is? Firstly, they can be seen as virtual currency that can be traded on the gaming community. You can also use them on your own games to improve the look of your characters. Plus, they can be used to gain Steam credits for other purposes and purchases. If you log onto exchange sites you can actively sell your wares to buyers for cash.
Using this type of virtual currency is safer and quicker than cash, since it is completely virtual and does not require clearance from a financial institution. Deposits are instant, and when you cashout, your winnings are credited to your Steam account straight away. You can think of them as a gaming currency with multiple uses.
Today, more and more online bookmakers are converting to this virtual currency for wagering and gambling purposes, and eSports skin betting may well be the next big thing.