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Betting on esports is now a thing, and it can get you some big moneyby Marc Urbino

WATCH | As the esports industry continues to thrive, so does the number of people who bet on it for profit.

Esports betting sites have increased rapidly in the past few years, with gaming-specific organizations like being started.

As far as the methods of betting go, these sites mirror other sports. Fans can participate in single-day or single-match events, or take part in fantasy leagues that last an entire season. Depending on the site, rules and regulations differ, and prizes vary according to the stakes.

However, some fans have come up big. One participant, known by the alias Yjingtong, was able to win over $100,000 in a single year through winning multiple fantasy competitions.

The rise of esports and its betting community has been prominent, but also riddled with controversy. Match-fixing and other scandals in prior years have forced developers, like Valve, to crack down on illegitimate operations.

For example, "skin" betting (the trading of in-game cosmetic items for cash through third-party members) was once the most popular form of wagering, but has now mostly been eliminated.

WATCH | Companies like ESIC, however, are ensuring that the rise of betting does not takeaway from the integrity of esports. They are working with top industry leaders and officials to make sure proper regulation is making wagering safe for all participants.

WATCH | With prize money on the rise for both players and gamblers, regulation becomes necessary to properly manage what happens in the community. But with esports projected to be a billion-dollar industry in years to come, this may be more than expected.