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Valve eSports can trace its roots back to groups of friends hosting LAN parties and playing video games into the late hours of the night.
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Valve's wildly popular multiplayer online battle arena game Dota 2 uses skins in much the same way, and players can bet and trade on the same sites as for CS:GO.
This is unsurprising considering the amount of money on the line in the top eSports tournaments.
In fact, every International since 2014 has accomplished that feat.
And as with any popular sport, the mainstream exposure has caused the money to follow.
Bettors and gamblers are setting up shop to try to reap the rewards of this new economy.
And eSports has now grown to the point that these forms of gambling are infiltrating the video game sector.
Numerous betting sites have popped up that allow spectators to bet on eSports events and tournaments in the same way they would a football, basketball, baseball, or hockey game.
Gamblers can view odds and place bets through bookies on CS:GO, Dota 2, League of Legends, and other matches.
Beyond that, fantasy eSports is becoming more prominent.
Participants form leagues, draft teams of eSports players, and earn points based on how those players perform during games, similar to fantasy football.
More to Learn eSports betting and gambling is lucrative, and brings in a whole new class of investors into eSports.
But this is just one aspect of this booming industry.
That's why BI Intelligence, Business Insider's premium research service, has put together a comprehensive guide on the future of professional gaming called The eSports Ecosystem.
Interested in getting the full report?
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But today, it has become a full-fledged industry, an official network of professional gaming tournaments and leagues.
With every passing tournament, the prizes get richer and the views increase.
And when there's money to be made, bettors will follow.
The industry is growing so quickly and so much money is pouring in from players, viewers, and sponsors that eSports betting and eSports gambling are becoming viable markets in their own right.
Betting on eSports began in earnest with the game Counter-Strike: Global Offensive through a process called "skin betting" or "skin gambling.
But it soon became clear that these simple changes would create an underground economy.
Players can also trade and sell their skins, which creates a market in which rarer skins demand higher prices.
This spawned numerous websites where players can gamble with their skins for the opportunity to win more valuable ones.
But players who win skins on these sites could sell them for real-world money, which has drawn criticism from those who say this qualifies as unlicensed gambling.
In 2016, sites such as CSGO Lotto, CSGO Lounge, and CSGO Diamonds dealt with a lawsuit filed by a player against the owners of the gambling sites and Valve Corporation, which produced and developed CS:GO.
Valve responded in mid-2016 betting money on video games issuing cease-and-desists to numerous gambling websites that used Steam and by making clear that the company has no affiliation with such sites.
And CS:GO isn't the only game to feature skin betting.
Valve's wildly popular multiplayer online battle arena game Dota 2 uses skins in much the same way, and players can bet and trade on the same sites as for CS:GO.
This is unsurprising considering the amount of money on the line in the top eSports tournaments.
In fact, every International since 2014 has accomplished that feat.
And as with any popular sport, the mainstream exposure has caused the money to follow.
Bettors and gamblers are setting up shop to try to reap the rewards of this new economy.
And eSports has now grown to the point that these forms of gambling are infiltrating the video game sector.
Numerous betting sites have popped up that allow spectators to bet on eSports events and tournaments in the same way they would a football, basketball, baseball, or hockey game.
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But this is just one aspect of this booming industry.
That's why Betting money on video games Intelligence, Business Insider's premium research service, has put together a comprehensive guide on the future of professional gaming called The eSports Ecosystem.
Interested in getting the full report?
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Video games are unlocking child gambling.
What might be more surprising is the particular type of gambling under discussion.
He had been playing the mobile video game Final Fantasy: Brave Exodus FFBEa free-to-play game for android and iOS based on the series.
The system is a sort of weaponised behavioural psychology, perfectly pitched to exploit all the cognitive weaknesses that make people so susceptible to addiction and compulsion.
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FIFA Ultimate Team players compete.
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There's an easy way to bet on competitive video games
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What might be more surprising is the particular type of gambling under discussion.
He had been playing the mobile video game Final Fantasy: Betting money on video games Exodus FFBEa free-to-play game for android and iOS based on the series.
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FIFA Ultimate Team players compete.
Simply finishing the FFBE tutorial gets you 500 lapis, for instance, and your first month with the game will see you showered with the currency.
But eventually, the spigot is turned off, leaving you with a measly 100 a day which you can unlock through hours of play.

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Click games are unlocking child gambling.
What might be more surprising is the particular type of gambling under discussion.
He had been playing the mobile video game Final Fantasy: Brave Exodus FFBEa free-to-play game for android and iOS based on the series.
The betting money on video games is a sort of weaponised behavioural psychology, perfectly pitched to exploit all the cognitive weaknesses that make people so susceptible to addiction and compulsion.
But they also mix with all the worst aspects of virtual cash-grabs.
If I tell you that a Β£20 purchase gets you just 3,200, you start to realise the amount of cash at stake here.
FIFA Ultimate Team players compete.
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