Trying to understand how esports odds work can be challenging for newcomers to the world of betting. Worry not, in this guide, we will help you figure out how the esports betting odds work, how to get the most value out of your bets, and much more.
Most Important Thing You Need to Know About Esports Betting Odds
Esports odds are nothing more than a probability that something is going to happen. In most cases, you’re going to bet on a match-winner. Esports betting sites will determine the odds and it’s up to you to find a potential bet through value.
With that being said, you also need to understand that higher odds yield higher returns and this is where your analysis comes into play. We wrote an excellent esports guide for betting that will provide more than enough information that will help you make the right choice and find value in esports betting odds.
Another very important information you must know about esports betting odds is that bookmakers will offer different odds for the same bet. Here’s an example of how this works and why it’s important for you to have accounts opened with multiple betting sites.
*Astralis is playing against Spirit in the PGL Major Antwerp 2022. We’re going to compare three betting sites and their odds on Astralis to win this match.
#1 LOOT.BET set Astralis to win odds @ 1.38
#2 BETWAY set Astralis to win odds @ 1.40
What does the above information mean to you? On paper, probably not much, but if you want to have a chance of profiting from betting on esports, then you need to listen very carefully. Let’s say you want to place 100€ on Astralis to win this match. If your pick goes through, LOOT.bet will return 38€, Betway 40€, while GG.bet will return 52€ for your bet. Hopefully, this explanation proved to you why it’s important to have accounts opened with multiple sites.
Latest Esports Odds
Instead of scrolling through esports betting odds manually, we’ve put in place a live design that will constantly provide you with the highest odds for the most popular esports games. Without further ado, feel free to scan through these odds and give yourself a fighting chance against betting sites.
Types of Esports Odds
There are a lot of odds types. Starting with the decimal, fractional and American, all the way up to percentages or Hong Kong odds. Bear in mind that some aren’t as popular and they are mostly used in specific regions of the world. Below, we’ll explain how the most popular odds types work so don’t miss out.
Decimal Odds Explained
Speaking from experience, decimal esports odds are by far the easiest ones to understand. Everything is in the numbers. The decimal odds on T1 to win the upcoming MSI are 5.50. The only thing you need to do to calculate your return is to multiply that number with your wager.
Example: Betting 50€ on T1 to win MSI at the odds of 5.50 will return a total of 275€. If you want to add another pick to your betting slip(Astralis to beat Spirit @ 1.52), the math will look like this: 5.50 X 1.52 = 8,36 X YOUR WAGER(50€ for this example) = 418€ in potential return.
Fractional Odds Explained
Fractional odds are most commonly used in the UK. Before we start explaining the reasoning behind fractional odds, you need to know that there are two prefixes for these odds. slash(/) or hyphen(-).
Let’s use the odds of 7/3 as an example. Numbers indicate that you can win 7€ for every 3€ you bet. Keep in mind that you are also getting your stake back alongside the potential profit. You can also calculate fractional odds by dividing them. For instance, let’s say you want to bet 100€ on the fractional odds of 7/3. Divide 7/3 and multiply it by your stake(100€ in this case) and you get a total of = 233,33€ + your wager in potential return.
American(money line) Odds Explained
From our point of view, these types of esports odds are only used in North America. There are two prefixes you need to pay attention to, +(plus) and minus(-). Favorites are always marked with a minus(-) while the underdogs carry +(plus).
The number next to the favorite(alongside -) represents the amount of money you need to wager to win 100$. On the other hand, underdogs(alongside +) represent how much money you can win for a 100$ wager.
Example: Odds on Red Candits to win their match against Istanbul Wildcats are set to -135. This means that you need to stake 135$ to win 100$. On the other hand, if you want to bet on Istanbul Wildcats at the American odds of +102, you’ll win $102 for a 100$ wager.
How do the Odds Work – Calculate Potential Winnings
Odds are nothing else but probabilities. Betting sites have their way of setting esports betting odds and it’s up to you to find flaws in what they have to offer. The number one rule when it comes to esports betting is to find value in your picks. Occasionally, everyone is going to lose, but in the long run, value betting through research and analysis will put you in profit.
Do you want to know how to approach the analysis of esports odds and matches? First and foremost, you need to convert odds to implied probability. There are a lot of odds converters on the internet that you can use.
After you’ve turned odds into probabilities, do the research and find gaps. For instance, betting on Astralis at odds of 1.38 comes with an implied probability of 72,5%. On the other hand, betting on Team Spirit to beat Astralis at the odds of 3.64 is giving them the implied probability to win of 27,5%.
Scan through their recent matches, find out what maps they tend to pick and how do these maps compare to what Astralis has to offer. Draw the line and set your probability of who is going to win this match. If you find out that you have a different opinion than the betting site, you have yourself a possible bet.
Should You Shop For the Highest Odds?
This is an absolute no-brainer. If you’re into betting and you want to profit, then shopping for the highest odds should be your priority. Betting on the highest available odds on the market means that you’re getting the maximum profit from your bets.
Bear in mind casual bettors who only do it to make things more entertaining for themselves while watching esports tournaments shouldn’t really bother to shop for esports odds. Stick to one site that offers what you’re looking for and enjoy yourself while watching the events.
Esports odds are probabilities that you can place bets on. In other words, odds represent the likelihood that something is going to happen in a match or a tournament.
Esports odds are calculated differently for every odds format you use. For the decimal odds, multiply your stake with the odds(100€ wager X 1,50 odds = 150€ returned). For the fractional odds, you’ll have to divide the numbers and multiply them with your wager(100€ wager X 7/3(2,33) = 233,33 + 100€ wagered). Last but not least, the American odds are easy to calculate(a number with a minus(-) represents the amount of money you need to wager to win 100€, while the number with a plus(+) determines how much money you can win for a 100€ bet).
By far the easiest esports odds you can use are the decimal ones. However, it’s completely logical that certain parts of the world are more used to the other type of odds.
We’re talking about American odds in this one. Given the fact that the prefix plus(+) is used, this means that we’re talking about the underdog in this one. The math is simple for this one. For a $100 bet, you can win a total of $200 + $100 you wagered.