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The LOL World Championship the biggest online game is now underway, informing you with a betting guide. The League of Legends Worlds 2018 started on October 1st and will last until the 3rd of November.
The championship games are currently taking place in 4 different cities in South Korea- Busan, Incheon, Seoul and Gwangju. This year is the second time that South Korea hosts the LOL Worlds.
The main event kicked off with the Quarterfinals revealing the top four teams that will compete in the Semi-finals. These squads are:
LOL is one of the biggest esports games today. Millions of fans and thousands of bettors all over the world are glued to the series to find out who wins this year’s Summoner’s Cup.
In LOL, bettors do not just take a look at the win-loss record of a particular gaming organisation. Also, taken into consideration is the performance of the individual players and how the entire roster plays together.
In LOL, the best players and teams are from South Korea. However, there are a few spectacular players from other regions. These players might make a positive value on their units, from a bettor’s point of view.
In esports, odds are the implied probabilities of a team winning a match. Bookmakers calculate these odds based on several factors. Some of these factors are:
The odds calculated can be Fractional, Decimal or MoneyLine.
The most popular among esports enthusiasts is the MoneyLine. The fractional is a traditional betting odds format.
The decimal expression of odds is fast becoming popular as it is easier to calculate potential winnings.
The MoneyLine is a more recent method developed to and fast becoming popular among LOL bettors.
This method is used for both sports and esports, the traditional way of expressing betting odds. It might seem complicated, but it is pretty simple.Take this example:
The betting odds is 3/1 for Team X vs Team Z
This means that Team X has a 25% chance of winning the matchup using this simple computation:
3/1= 1/(3+1) = ¼ * 100% = 25%
In this method, the higher the number on the left (i.e., 3/1), the lower the implied probability of the team to win a match. If the betting odds number on the right is bigger, this means that your team is a favourite to win. In this case, Team X would be a favourite or most likely to win if the odds are something like 1/3 or 1/18.
That is, according to the calculations and estimates of the bookmaker. Different bookmakers may have different betting odds for teams.
The odds are used for calculating the payouts. Using the fractional method is a straightforward formula for calculating winnings.
The number on the right is the amount of bet to get the amount of winnings indicated by the number on the left.
Take the examples above. Team X vs Team Z with betting odds at 3/1 means that for every $1 bet and the team wins, the bettor receives $3. For betting odds 1/3, a $3 bet receives $1 for a win. If the odds is 1/18, the bettor places bets of $18 to get a $1 win.
Hence, betting on a favourite team to win may not always be profitable compared to betting on a team with a predicted lower chance of winning.
This is where knowledge about the individual player’s statistics and performance, as well as the team’s roster is essential. A team that has excellent skill may be a better bet than a favourite.
Decimal odds system is now overtaking the traditional fractional method in esports betting. This system is easier to understand and easier to use in calculating potential winnings. It gives a more accurate forecast of how much can be won.
For example, in LOL Worlds 2018, the betting odds for Royal Never Give Up is 3.50. Divide 100% by the odds (100% / 3.5). The result is Royal Never Give Up’s probability, which is 28.57%. The higher the digits, the lower the probability of winning.
Compare that to KT Rolster’s betting odds of 4.00. Divide 100% by 4.00 and the team’s implied probability is 25%.
Taking that into consideration, in the match between KT Rolster and RNG, the latter has a lower chance of winning.
In calculating the winnings, multiply the intended bet with the betting odds.
For example, a $10 bet on KT will win $40 ($10 x 4.0).
This value takes into consideration both potential winnings and stake. In this case, $40 will be received into the bettor’s account when KT wins the match against Royal.
If using the fractional method, the stakes will be calculated differently. Initial stakes will have to be manually added to get the actual amount that goes into the bettor’s account in case of a win.
The primary betting odds used in the US is MoneyLine. The fractional and decimal betting odds are popularly used in the UK.
MoneyLine betting odds is slightly more complicated than fractional and decimal. Hence, it is less popular. However, LOL bettors tend to prefer this type of betting odds.
The odds are given under 2 categories, a positive and a negative. Positive values indicate the number of winnings for a $100 bet. For example, a team has a +285 MoneyLine odds means that a win will give the bettor $285.
Negative MoneyLine odds indicate the minimum amount of bet to win $100. For example, a team has betting odds -120. That means the bettor has to bet $120 to win $100.
These values are not yet the actual winnings that go into the bettor’s account. The bettor will have to manually add in the initial stakes to get the total winnings. This can be calculated using this formula:
Positive MoneyLine odds:
Multiply initial stake with odds/100
Negative MoneyLine odds:
Divide initial stake with odds/100
Betting on the best team with the best odds isn’t always a surefire way to make a profit in LOL esports betting. One way to make a profit is by making value bets.
Bookmakers may not be able to catch everything about a specific team. Hence, the odds are not always a complete assessment of probabilities. For example, one squad may not be a favourite but has a great player in the roster for an upcoming match. That player alone might take the team to a spectacular win. This is what the bettor takes as a positive value for the team.
Positive values are not always apparent. It takes closer observation of each team and each player at each match. Someone who studies the game and each player’s skill sets and performance might emerge from the LOL Worlds Championship 2018 with a nice profit compared to one wholly dependent on betting odds given by bookmakers.