Loot Boxes Verses Traditional Esports Betting

Esports betting is definitely the most-popular way to gamble on competitive gaming. It gives you an opportunity to place moneyline, outright, over/under, and prop bets.

However, traditional sports gambling isn’t the only way to wager on gaming. Alternative means of wagering on video-game competitions also exist.

Loot boxes (a.k.a. loot crates) offer an interesting way to bet on esports. You can find out more about loot boxes below along with how they compare to regular esports betting.

What Is a Loot Box?

Certain esports, such as Overwatch and Counterstrike: Global Offensive (CS:GO), give you the chance to earn a variety of weapons and character appearances a.k.a. skins).

In the past, you normally had to find every weapon and skin yourself by playing a game. However, loot boxes now provide another way to earn cool items.

These boxes essentially amount to random opportunities to earn skins. You pay a certain amount of money (e.g. $5) to get a specific amount of crates (e.g. five).

You have no idea what will be inside of each box until you open it. This mystery provides much of the fun behind buying loot boxes.

Loot boxes seemingly only have value as a means of showing off rare finds. However, third-party websites have sprung up that allow you to buy and sell loot.

Assuming you find a rare weapon, for example, you could sell it for a sizable profit. This loot economy only furthers the gambling aspect.

Pros of Loot Boxes

If you love playing games and gambling, then loot crates might be right up your alley. Here are the benefits of purchasing these boxes.

You Can Win Cool Items

Having rare weapons and outfits gives you an opportunity to show off to other players in a certain game. If you play CS:GO, for instance, you’ll silently earn bragging rights by running around and games with unique gear.

Again, though, you’ll need to spend considerable time locating hard-to-find items. You may not even find what you’re looking for after hours and hours of play.

Loot crates give you an opportunity to skip the tedious collection aspect. You can just keep buying crates and taking chances at getting what you’re looking for.

Loot Boxes Enhance the Gaming Experience

You most likely don’t get into a certain game for the prospect of buying and opening crates. Instead, you choose games based on how entertaining they are.

However, loot boxes provide fun side entertainment. When you get bored with blasting enemies, you can purchase a few crates in hopes of getting some impressive items.

You Can Sell Loot on Websites

Assuming you really enjoy a game, you might just want to keep all of your loot. Again, you can show off skins and weapons to those who pine for the same items.

On the other hand, you might want to benefit from your hard work or gambles (in the case of crates). This is where the aforementioned third-party websites come in to play.

You can actually profit off of finding loot. The more unique the item you’re selling, the more money you can expect to command on the market.

Cons of Loot Boxes

Many gamers appreciate loot crates and think that they bring value to games. But as you’ll see below, loot boxes also come with some downsides.

You Can’t Win Money Directly

Loot crates feature lots of different contents. However, none of them come with money inside.

The only way that you can profit from loot is by visiting relevant websites and selling your merchandise there. I highly recommend doing so if you get really into the matter.

Then again, you may find the process of having to visit a third-party website to be inconvenient. Furthermore, you might just wish that there were a way to make money off your bounty directly.

You’ll “Lose” Most of the Time

The main point of loot is to find the rarest of items and display them to other players. As previously covered, boxes give you an opportunity to collect the best items more quickly.

The drawback, though, is that you’ll spend lots of money taking chances at the best loot. You’ll essentially lose over and over by getting common items and/or those you already have.

Of course, you could always hit the jackpot and get a great weapon or skin immediately. But you’re much more likely to just keep getting worthless junk.

Loot Boxes Carry a Negative Reputation

Esports betting sites require that gamblers be of legal gambling age in their respective jurisdictions. For example, an American would need to be 21 years old to legally wager at an esportsbook.

Loot boxes don’t carry the same requirements. Instead, gamers of any age can purchase these crates and take their chances at earning bounty.

The developers that offer these opportunities see loot crates as just part of gaming. However, many politicians are adamantly against these boxes and are looking for a way to ban them.

How Does Traditional Esports Betting Work?

You may be fully aware of how regular esports gambling works. If you’re not, though, I’ll quickly explain the subject.

An esports betting site works exactly the same as any online bookmaker. In many cases, they’re one in the same.

These sites display odds on different outcomes regarding an esports match. For example, a line may call on you to choose the winner of a Dota 2 match.

Of course, you also need to pay attention to the associated odds involving any wager. These odds determine which team is the underdog and favorite.

Moneylines, which indicate favorites with a minus sign and underdogs with an plus sign, are the most-common type of esports wager. But no matter if you’re placing a moneyline wager or other type of bet, the theme is always the same: you’re risking money to win money.

Pros of Esports Betting

Esports gambling is growing in popularity for a reason. You can see the main benefits to this type of wagering below.

You Stand to Win Money

The main drawback to loot crates is that you can only make money in a roundabout way. You can’t just open a crate and expect to find cash inside.

Esports gambling, in contrast, doesn’t have this problem. Its entire premise revolves around you trying to win money.

The amount of profit that you stand to earn varies based on the odds. Therefore, you can risk a lot to earn a little, or a little to win a lot.

You Have More Control over the Outcome

A loot box is as random as a slot machine. Once you purchase a crate, you have no control over what will be inside.

Betting on esports, on the other hand, offers more control over your results. You get to thoroughly review all of the outcomes, handicap the odds, and decide which outcome is best.

Assuming you’re really blessed with esports knowledge, you might even be able to earn long-term profits. But even if you’re not, you at least have an opportunity to get better and improve your odds.

Esports Betting Bonuses Are Available

Many esports gambling sites offer bonuses, including a free bet and/or deposit bonus. A free bet gives you an opportunity to win back potential losses from your first wager.

Assuming you place your first bet at a new sportsbook and win, then you simply collect the winnings. But if you lose, you get an opportunity to earn the money back.

You have to meet terms and conditions before collecting the losses. The key, though, is that you at least get the funds back when doing so.

Cons of Esports Gambling

Esports betting definitely enjoy some advantages over loot crates. However, you should take the following downsides into account before hopping on the first betting site you see.

Confusing to Beginners

A loot box is a rather simple matter. You purchase a set number of crates and open them to see what’s inside.

Esports gambling differs greatly in this regard. You need to read odds that can seem like they’re written in Greek at first.

Fortunately, you’ll learn to get the hang of traditional betting after a short while. But if you’re totally new to esports or sports gambling, then you’ll need some time to decipher the odds.

Money on the Line

The downside about gambling for money is that you must also risk money. You may even be tempted to gamble too much, especially if you’re in a losing streak and trying to win back losses.

I certainly don’t recommend ever chasing losses in sports betting or any other type of gambling. But the temptation is always there when you get stuck in a downswing.

In contrast, loot crates are a relatively mild form of gambling. If you’re like most gamers, you’re only spend a few dollars on these boxes at a time.

Chances of Profiting Are Deceiving

As I mentioned earlier, esports wagering gives you the chance to make profits. However, you don’t want to get carried away with your odds of succeeding.

Even if you’re a skilled gambler who commonly bets around -110 odds, you still only have around a 55% chance of winning each bet.

Assuming you’re like the average esports gambler, though, you stand less than a 50% chance of winning. That said, you must be careful to not overestimate your abilities and gamble too much.

Which Type of Gambling Is Superior?

Personally, I believe that traditional esports betting is the best way to wager on competitive gaming. It offers the following advantages:

• Profit potential
• Control over results
• Lucrative bonuses

I’m not saying that esports gambling is perfect. However, its benefits definitely outweigh those associated with loot boxes.

The latter are nice from the perspective that they tie in better with playing games. You can actually use the loot you get from crates.

If you’re mostly into the playing side, rather than gambling, then you may prefer loot boxes. Again, though, esports wagering is superior when it comes to the betting and potential monetary gains.

Conclusion

The esports world offers several ways to gamble on the action. Traditional wagering and loot boxes are two of the most-popular methods.

However, only esports betting gives you an immediate chance to win profits. It also provides more ways to bet on and control the outcome.

Of course, loot boxes are still worthwhile if you’re mostly into the gaming aspect. But if you’re looking for the ultimate esports gamble, then regular betting is it.