Does crunching numbers seem like a chore to you?
Well, it shouldn’t. When you bet on esports online, one way or another, you’re gonna have to learn how to deal with numbers when you want to level up your winning chances. Making a wager in top-caliber esports tournaments nowadays requires one to do the math; to study the esports betting odds properly.
If you’re a rookie esports bettor confused with the idea of ‘odds’ whenever other bettors mention it in a wager, this esports betting guide should get you started. The concept of odds in betting has more implications other than basic predictions and assumptions, so read on to understand them all.
What are esports odds?
In online betting, odds are numerical figures or values that represent the probability of an event happening. In most cases, the odds show you the likelihood of a team winning or losing the match. To make it a bit simpler, the odds will tell you what the bookmakers think, presenting the most probable endgame you can meet when you bet on a particular team. For other betting formats, odds can also depict the probability of an event happening, and can even help you measure how much you want to earn in a single betslip.
How do they work?
Similar to online sports betting, esports odds are presented by bookmakers in the form of decimals or fractions. This can depend on your location, as countries vary in betting format, or how your sportsbook presents them. American odds is also a popular odds format, because it follows the pattern of a money line.
The most widely used format of odds in esports betting is Decimal Odds, because it’s slightly easier to understand and calculate among others. The premise is simple: you just have to get the odds listed on your sportsbook and multiply it by the amount of your bet. The value would be the amount you’ll most likely win.
On the other hand, Fractional Odds is a bit more tricky. It’s popularly used in the UK, often called British Odds or Traditional Odds. Calculating your potential payout using Fractional Odds doesn’t include your original stake. Say, if you’re faced with an odd of 5/3, that would mean that for every £5 that you bet, you’ll get £3 in return.
Lastly, American Odds, as the name implies is a betting format mostly used by esports betting sites in America, where most bookmakers are based. Also known as moneyline odds, American Odds are generally easy to comprehend as they highlight the favorites and underdogs. But unlike decimal odds where you calculate your total payout, in American Odds you calculate the profit you would earn if you win the bet.
What’s the best odds format?
There are other betting formats used by many bookmakers and bettors apart from the ones mentioned in this esports betting guide, but these three should properly acquaint you well with the ins and outs of esports betting odds. No format is better or more advantageous than the other; the key is to find the format that best suits your betting style.
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