Esports Betting Odds Explained
If you are looking to bet on Esports on anything else, understanding betting odds is a must if you want to have success. Here is how betting odds work for Esports and how you can use them to your advantage when betting.
The Basic Principle of Outcomes
Let’s say that, for instance two teams, SK Gaming and Virtus.Pro, are going to play against each other. The statistics of both units’ past performances show that they played ten tournaments.
SK Gaming won 6/10 matches, so the average probable outcome of defeating VP is 0.6.
Whereas, Virtus.Pro won 4/10 competitions which leaves an average of 0.4, the probability of winning against SK.
So 0.6 + 0.4 = 1 means it is definite that one of the two units will obviously win.
The simple question you ask is – How often will the event occur if team A wins over squad B or vice versa?
Decimal odds explained
The most common form of betting odds is decimals. In fact, most of our partners use this format.
For example: SK Gaming - 1/0.6 = 1.66 and as for Virtus.Pro 1/0.4 = 2.50, the results represent the decimal odds. So it is safe to say that the smaller the figure, the greater the chance of your favourite team winning in this kind of format.
So In order to calculate the outcome, you simply divide by the probability (that is calculated above)
SK - 1.66 =100/1.66 = 60.24%
VP - 2.50 = 100/2.50= 40%
If you were to make a combination of wagers with the odds of 2.0, you will receive following payouts
$1 = $1 x 2.0 = $2
$5 = $5 x 2.0 = $ 10
$10 = $10 x 2.0 = $ 20
As you can see the answer to these sums is your received winning reward.
Fractional odds in Esports
Among British and Irish gaming sites, fractions are deemed the most statistical figures. Below is an example of how fractional odds are calculated. Fractional odds provide another alternative to reading outcomes of eSports teams and tournaments. Here are a few examples of how to work out the chances of a team winning.
Staking on SK:
SK - 6/10 = 10/(6+10) =0.625 x100 = 62.5%
Remember to keep in mind that in a fraction if the left number is higher than the right, the chances are not so favourable and will work against you.
What do you benefit when you bet on eSports? The odds at 3/5 means you win $3 with every $5 staked. You could also find out how much you win by multiplying the amount you could gain ($3) with the wagered amount ($5) – 3 x 5 =$15
Follow this simple formula when you are searching for odds through eSports sites. The working will help you familiarise yourself with the best outcomes. Remember to keep in mind that in a fraction if the left number is higher than the right, the chances are not so favourable and will work against you.
Other types of bets
Apart from the traditional way of betting in competitions through our partners, there are other types of wagers you can place online. From one gaming site to another the type of bets can vary but generally, they offer the most common form of a gamble.
You can place a wager on the outcome of an event which has yet to take place in future. In this case, ask yourself - Which squad will win the match?
Proposition bets are made to suggest what you think about a team, which is why you would need to check on the unit’s performance playing with several competitors. This brings up the question - how many matches will the team win?
Another interesting way of gambling is ‘handicap’ or also known as ‘spread’ betting. This involves the prediction of which team will win and the margin of points between the winning squad and losing unit.
A Combination of bets
On most of our partner sites, you have the option to bet on a variety of matches so as to increase your payouts. You can place a minimum of two wagers up to eight on various events. To win, all your stakes must be correct and favourable.
Multiple ways to bet
When you bet online you are free to choose and set which format you want your wagers worked out as well as how much money you want to spend or gain through the gaming site.
When it comes to the esports scene, a lot of players around the globe see betting as an exciting activity and maybe even a means of gaining some money in the process. Professional bettors have an analytical mind using both statistics and contextual knowledge about teams when they are deciding how to best go about wagering within esports.