Esports betting is a fun experience. Yet, to read correctly into it, you need to understand what esports betting odds are, how they work, and if they are something that can guide your next wager.
We have compiled a quick and detailed guide on how esports odds work and what you need to know to make an informed decision. Esports Grizzly will explain how odds are converted into monetary value and why some selections are better than others.
How Esports Betting Odds Work
Esports odds are supposed to exemplify a straightforward concept. They essentially tell you what the risk versus the potential return is. Every time you make a bet, you need to accept that esports betting is only for entertainment purposes. Even the best esports bettors win in only 55% of the cases, but this does not mean that the amount won outweighs the amount wagered.
With this in mind, reading into the esports betting odds, whether this is FIFA, Dota 2, League of Legends, Counter-Strike, Call of Duty, or something else, is essential. The odds may be presented in three ways:
All three essentially communicate the same concept from above: what risk you carry and the potential return for that risk. Some selections will be more worthwhile than others. Sometimes even the esports betting sites tend to make mistakes, and this is your opportunity to use this and turn it in your favor. Let’s take a look at the odds.
Decimals Odds on Esports
Decimal odds are the easiest to figure. The longer the odds, for example, 1.50, 2.40, and 3.50, the lower the team’s chance to win. The lower the odds, the better the chance a confident team would win. So if FunPlus Phoenix plays vs T1 in the LPL at odds of 1.50 versus 3.50, this means that FunPlus Phoenix is the most likely favorite.
If you bet $1 on both selections, you stand to win $1.50 for FunPlus Phoenix (if they win) and $3.50 for (T1) if they win. However, the chance of T1 winning is much lower, hence why the payout is much bigger. The profit is calculated by subtracting your amount bet from the total amount earned. For example, $3.50 – $1 makes for a $2.50 net win. This is how decimal odds work.
Fractional Esports Odds
It is not very likely you will run into fractional esports betting odds. However, if you do, there is a quick way to understand these odds. Essentially, you may have something like 7/2 n a team to win. To calculate the selection’s potential stake, you need to divide seven by two and then add one (which represents your stake).
You now have 7/2 +1 = 4.5, which essentially means that you stand to win $3.5 (minus your bet) on this selection. This is a great payout, but you ought to remember that the probability of this happening is much slimmer.
Esports Moneyline Odds
Moneyline odds are also called American. However, most esports fans tend to buck the trend and stick with decimals. The way these odds work is simple. You may have something like -120 or +120 on the two teams. The favorite is denoted by the minus (-) and the underdog by the plus (+).
This means that you need to bet $120 on the favorite to win $100. If you are betting on the underdog, you need to bet $100 to win $120. So, the odds of 1.50 in Decimal is -200 in American or Moneyline. As you can see, this team’s chance to win is very big.
Esports Odds Comparison: Know All the Facts
Understanding how esports betting odds is a great way to make the best-informed decisions when placing a bet. However, sticking with a single esports bookmaker can often be a little limiting. Not because the odds listed there would be wrong.
It’s just that there’re maybe better odds altogether. That is why it’s essential to get used to esports betting comparison. This is the practice of you shopping around for the best odds. Most esports fans will have accounts registered at several esports bookmakers they know they can trust.
This allows them to compare the odds for the same game across different websites and gives them the best mathematical edge. It’s called “odds shopping” and it’s a great way to optimize your bets and boost your potential profitability.
Value Betting and Esports Odds
Another reason why you want to shop around for odds is because of the value betting opportunities you may find. It’s not just about shaving off a few points. You may actually find a selection that has been miscalculated by the trader (the people responsible for assigning the odds).
This way, a selection that is supposed to be flagged as winner may be mistakenly posted as the underdog. This happens all the time, and especially in esports where companies are less experienced than say – sports betting. If you shop around for the best esports betting odds you may end up finding a selection that will elevate your experience even further.
Understanding and knowing how to read into esports betting odds will prove a great way for you to advance your gameplay. Esports fans are eager to always have the best possible conditions at their disposal and looking into the right esports odds is a great way to achieve just that. Players are very welcome to shop around and find the best selections possible. You can also look up our esports betting tips to make sure that you are really on top of your game and always placing your wagers where the smart money is. Don’t hesitate to check the best bookies out there.