Are FaZe Clan’s Financial Struggles a Sign of Things to Come for Esports Organisations Going Public?
One of the world’s most iconic eSports teams, FaZe Clan, is currently facing financial struggles. Is this a sign of things to come for other eSports teams?
According to reports, one of the world’s most iconic eSports teams, FaZe Clan, is currently facing dire financial struggles.
The question being asked here is, are FaZe Clan’s financial struggles a sign of things to come for eSports companies going public? Find out more right here.
What happened to FaZe Clan, and how much money did they lose?
Not including the accounting charge, a recent financial report for FaZe Clan revealed that certain administrative and general operating expenses are the main protagonists that have led to the organization losing a considerable amount of its wealth that was estimated to be worth somewhere in the region of $59.4 million (approx. £48 million).
It is still unclear as to what might happen to FaZe Clan over the coming months. They recently offered up a majority of their shares, which indicates just how serious their money troubles currently are.
Despite their financial woes, they are still one of the world’s most iconic and successful eSports teams with a huge following. Die-hard fans are hoping it’s just a temporary blip and the FaZe Clan will swiftly recover. However, others who are closely monitoring the situation aren’t so sure.
After going public on Nasdaq last July (2022) and peaking the following month, the organisation has since struggled and they have lost millions. Can they recover? Only time will tell.
Is it possible to bet on eSports events at licensed online sports betting casino sites?
Yes. It’s now possible to bet on a wide range of eSports tournaments, events, and leagues from around the world at hundreds of licensed online sports betting casinos. You might be asking yourself, what is a sports betting casino?
In short, it’s an online sports betting website that also has online casino games from some of the world’s top providers. If you want a complete list of cashback bonuses that are currently up for grabs at today’s best online sports betting sites, go to the official AskGamblers.com website.
What kind of eSports events can I place a wager on?
At most websites that have eSports betting markets, you can usually bet on things like the BLAST Premier League, the Fortnite World Cup, the PUBG Global Championship event, and The International.
Other top eSports events you can often find markets for are the Intel Extreme Masters’ Qualifier, the North American ESL Pro League Conference, and the Honor of Kings International, to name just a few.
What are the main eSports video games usually played at these events?
Some of the world’s most iconic video games are usually played at today’s eSports events by teams like FaZe Clan. Examples include the following:
- Dota 2
- Counter-Strike: Global Offensive (CS:GO)
- Rocket League
- League of Legends
- Call of Duty: Modern Warfare
- Starcraft 2
- Rainbow 6
What are the main bet types in today’s biggest eSports events?
When placing eSports events, the bet types can vary from one event to the next, but some of the most popular bets you can normally find are things like outright winner/match outcome, best player, tournament winner, kill method, and the player with the most individual points.
You can also find markets/odds for the most valuable player, first map, first blood/first kill, and group winner, plus various others. As well as being able to place bets before the action starts (pre-match betting), you can also now place bets as the action unfolds (known as live betting or in-play betting).
What other eSports teams have made millions from taking part in eSports events?
Apart from FaZe Clan, some of the other major eSports organisations that many of you may already be familiar with by now are Invictus Gaming, Fnatic, OpTic Gaming, Team Spirit, and Evil Geniuses.
Others include OG, Tea Liquid, Natus Vincere, Virtus.pro, Paris Saint-Germain Esports, Newbee, LGD Gaming, Cloud9, and T1.
How old do I have to be to place a bet on any eSports events?
To register a real money account at a licensed online sports betting casino with eSports betting markets, you must be at least 18 years old. However, the minimum age to play at licensed betting sites in certain parts of the world could be 19, 20, or 21.
The best way to make your money stretch further when gambling for real money at licensed sports betting sites and online casinos would be to set win/loss limits or any other limits that help you manage your bankroll better, such as deposit limits, spending limits, and session time limits.
Gambling responsibly is much easier said than done, but when using these handy ‘safer gambling tools,’ it’s much easier to do.
Disclaimer: Gambling involves an element of financial risk and may be addictive. Please play responsibly and at your own risk. This post contains material that may or may not be legal in your country. Please play subject to applicable law.