How Esports Betting Odds Work
If you want to bet on esports then you will need to know how esports betting odds work. Odds are a focal part of any esports bet and are the crux of a bookmaker’s operation. In the same way that it defines how they control their revenue, it provides you with the opportunities to profit. We will share more information on what odds are and how they impact the various esports betting markets.
Important Information On Esports Betting Odds
What Are Odds and What Do They Mean?
A guide on everything you need to know about decimal, fractional and American esports betting odds. There are multiple sections here that will help you understand how betting sites create esports odds and how you can capitalise on this through esports betting.
Although there are a lot of bookmakers who will incentivise you to join their platform with excellent esports betting bonuses, we will divulge information on how you can calculate value and make it more exciting. With information such as arbitration (Arb) betting and matched betting, you should have everything you need to get a good return on investment (ROI) on esports betting.
What Are Decimal Odds?
Easiest Way To Calculate Your Winnings
When visiting an online bookmaker to place a bet on an esports event like Apex Legends, you will likely encounter esports betting odds displayed as decimals. Decimal odds are applicable to various aspects of the esports world, whether you are betting on Myztro Gaming to triumph in their upcoming Global Series match or wagering on the team to demolish the first tower in an Dota 2 showmatch event.
For instance, imagine placing a £10 bet on Astralis to secure victory in the RMR for CSGO at odds of 8.00. In this case, you would receive £80, including your original stake. Similarly, if you bet £5 on OG to win the Dota 2 ROG Masters challenge at odds of 3.50, your total return would be £17.50, comprising your initial wager.
A higher decimal amount indicates that the bookmaker is prepared to offer a more substantial payout for that particular betting outcome. However, it’s important to note that such outside bets are considered less likely to occur, which is why adopting this betting strategy can be risky. Understanding decimal odds is essential for calculating potential winnings and making informed decisions when betting on esports events.
What Are Fractional Odds?
Typical UK Betting System
Fractional betting odds are a familiar concept to many UK betting enthusiasts. Although this method of displaying esports odds may not be as widespread internationally, it remains a popular way of predicting the likelihood of a specific event happening in the UK. It is crucial to note that fractional odds do not include the original wager amount.
For example, suppose you wanted to bet on Fnatic to win their upcoming CS:GO match at the ESL Pro League Finals at fractional odds of 3/8. In that case, you would earn £3 for every £8 you wagered.
On the other hand, if you wished to back their opponents, Cloud9, at CSGO odds of 7/4, you would receive £7 for every £4 you wagered.
This demonstrates that the bookies believe Cloud9 has a slightly lower chance of winning this specific esports match. As a result, the bookmaker will offer a larger payout for those who choose to back this team.
The main takeaway is that there are no real advantages to choosing fractional odds over decimal odds or vice versa. The choice depends on which method works best for you in calculating your potential esports winnings.
What Are American Odds?
Popular With Bookmakers – How Can You Use It
In case you found fractional and decimal odds a bit too simplistic, we’ll also provide a brief explanation of American odds. As more bookmakers incorporate American odds into their esports offerings, it’s beneficial to understand them for easy comparison across various bookies.
American odds always start with a positive or negative symbol. When you see American odds with a negative sign, the following number indicates how much you need to bet to earn a £100 profit.
On the other hand, if you see American odds with a positive sign, the subsequent number refers to the profit you would make if your bet was £100.
While this might seem like an unconventional method for calculating the likelihood of an esports event, it’s a practical way to express odds in terms directly related to your potential wager. As American odds gain popularity with the global expansion of esports, it’s wise to familiarize yourself with this way of displaying odds.
Popular Esports Betting Markets and Odds
Bet on what you know best
Even though esports betting is growing rapidly, and the amount of different esports bets you can place varies wildly, it can sometimes feel quite limited still. For games such as Battle Royales, the models have not yet been created where interesting market options are yet available. It is a chicken and egg situation, where bookmakers are waiting for revenue to increase before they invest in these models.
Most esports betting sites like UniBet and William Hill will focus their markets on legendary titles like CS2, Dota 2 and League of Legends. But more savvy esports bookmakers like Pinnacle and Betway have taken it upon themselves to offer esports odds and a wider range of games. This includes games like Rocket League, StarCraft II, Valorant, Overwatch, FIFA and more.
While the discussion is frequently on pregame betting and live betting, there is a growing appetite for flash market betting. This is more rapid-fire betting for small scenarios as the game is on going. An example of flash market betting is when a CS:GO game is mid-round and you want to bet on whether s1mple of Natus Vincere will get the next kill.
It is always best to bet on the markets that you are most comfortable with. This will increase your chance of winning your bets and making a profit. If you bet on games you know less then the esports bookmakers can take advantage of you more.
How Do You Calculate The Expected Value?
Work out how much you win
While EsportsCompare.net offers great esports betting information on odds, it is also possible to do simple research to work out the expected value of your bets. Take a look at our Betting Tools for more information.
Expected value provides an estimate of the average amount you would win on each bet. This means you can repeatedly run the same betting scenario to evaluate if the odds are worth betting on. To calculate the expected value of a bet, multiply your winning odds probabilities by the amount you’d win, then subtract the probability of losing multiplied by the amount you would lose. These probabilities can be determined by dividing each decimal odd by one.
These figures indicate that bookmakers will slightly tilt the betting odds in their favour to maintain a profit. The key is to use an esports betting resource like EsportsCompare.net to ensure you only engage with bookies that offer the lowest possible betting margins, thereby maximising your potential profits if you win.
Understanding Arbs
A Complex Betting Strategy
Gaining a solid understanding of expected value is crucial if you’re looking to implement an arb betting strategy for your esports wagers. Although arb betting can be intricate, it’s an excellent method for experienced bettors to guarantee a profit. This is achieved by using odds from various bookmakers against each other to maximise winnings.
For instance, if you were betting on a showdown between Cloud9 and Astralis in an upcoming Blast World Finals match, you would bet on both teams to win the CS:GO match, leveraging the discrepancy in different bookmakers’ odds to secure a guaranteed profit.
Undoubtedly, this isn’t a straightforward betting strategy, but it demonstrates that if you’re willing to put in the effort, you can profit from two distinct bets. To successfully execute an arb betting strategy like this, you’ll need to consult a betting comparison site to ensure you’re using the most recent odds; otherwise, your arb betting plan could fail miserably.
Matched Betting in Esports
Can You Guarantee Profit?
A growing number of esports betting enthusiasts have discovered that matched betting can be an advanced technique applied to games like CS:GO. This method involves betting against the eventual winner by backing potential losers across various bookmakers. By using a betting exchange to place a counter lay bet, you can hedge all possible outcomes, aiming to guarantee yourself a profit.
To effectively execute this betting strategy, you’ll need to find an array of bookies offering odds on your preferred esport. As a result, this tactic isn’t suitable for niche esports titles like Rocket League.
Furthermore, it demands patience and skill in identifying the right bookmakers’ odds for your chosen esport. While football fans have numerous options for constructing their matched betting strategies, esports enthusiasts face a more challenging task. However, as esports gain popularity and appear on an increasing number of bookmakers’ sites, we may soon witness the emergence of matched betting as a means to secure substantial profits.
How Do Bookmakers Calculate Esports Odds?
Who is making up the odds?
All bookmakers calculate odds meticulously to maintain an advantage while ensuring customer retention. They achieve this by employing experts in each field to assess the likelihood of various betting outcomes. Just as a football expert might serve as an oddsmaker for a Manchester United match, a Dota 2 betting odds specialist would evaluate the upcoming tournament by examining each player’s past performance and statistics. This is true for CSGO betting odds or any other esports title.
Although esports is a relatively new domain for traditional bookmakers, they have proven adept at adapting to this emerging field. As a result, you can now gain insights into the top esports players and teams across various sectors by examining how their odds have been established. It’s crucial to remember that odds are formulated by humans and, as such, are subject to a margin of error. Despite the extensive research an oddsmaker puts into refining their odds, occasional mistakes can occur, leading to potentially significant winnings.
Conclusion of Esports Betting Odds
More Unusual Betting Odds Types
Although decimal, fractional and American odds are most widely seen in the western parts of the world. Esports betting odds can vary even more. There are Malaysian odds, Indonesian odds and even Vegas odds. It is best to stick with what you are most familiar with though. All bookmakers that we discuss on EsportsCompare.net will use a mixture of the 3 main odds types we have discussed. Always make sure you bet with up to date information and only bet what you can afford to lose.
FAQ
This depends very much on the game and tournament you are placing bets on. Pinnacle is will known for having good odds but lately have had a lot of competition. Be careful with odds you are viewing, they may also come with conditions of a low maximum bet.
You should use whichever odds format you prefer! For new esports bettors the decimal odds format is certainly very popular. Although depending on your location you might prefer American or even Fractional odds format.
It depends on the amount of risk you are willing to take. If you must place a large bet in order to only win a few cents then it is probably worth choosing a different market. The potential winner does not often outweigh the risk, no matter how low it is.
