Esports Betting Odds
Esports Betting Odds – How they are displayed and what to look for?
Players who desire to bet on esports with a higher chance of success must understand how esports betting odds works. This knowledge is not crucial to esports alone, but also betting in general. In this article, we will give detailed explanations of esports betting odds, how they are represented, as well as how you can calculate your winnings using these odds.
Brands offering the Best Esports Betting Odds
What is Esports Betting Odds?
If you are new to online betting, you might find the odds a bit complicated. However, you will discover that they are straightforward as you start wagering.
What are betting odds? They are numbers used to represent the probability of an event. In esports, they are used in the same manner; that is to show the event’s probability. Furthermore, these odds represent how much punters can earn, and how likely they are to win, and the risk associated with that.
Bear in mind that odds are not the same as chances, but show the same thing. Odds are made by the betting site, it is their sole responsibility to come out with an odd for an event by considering several factors, including players’ skills, match history, rosters, player fitness, etc.
In sports betting, odds are represented or displayed in three formats, namely fractional, decimal, and Moneyline. The fractional odd is common in the United Kingdom, and it represents the likelihood of a team winning out of several occasions.
For example, 3/1 odd means that a team is likely to win one out of 3 matches, while 2/1 means there is a chance of winning one out of two matches.
Fractional Odds are simple and are commonly uses in traditional sports and esports betting. Compared to other types of odds, they can be easily converted into percentage. You can also make use of different odd calculators online for your convenience. Here are examples of how you can convert fractional odds to percentage:
12/5 = 5/ (12+5) = 0.294 = 29%
1/5 = 5/ (1+5) = 0.83 = 83%
4/1 = 1/ (4+1) = 0.20 =20 %
Odds also tell you about your winnings. Below are some examples:
3/1 – You win £3 for every £1 bet
1/8 – You win £1 for every £8 bet
1/1 – You win £1 for every £1 bet
For a 3/1 bet, you are not limited to a £1 bet, you can bet more. All you need to do is multiple the stake by ratio. If you bet £7, for instance, you will have to multiple the £3 by 7. Hence, you will win up to £21 if you place a £7 bet.
This type of odds is becoming more popular due to several reasons, including simplicity, accuracy, among others. According to sports bettors, with these odds, players can easily read and decode the esports bets’ probability. Also, the odds provide players with their exact returns. In other words, it gives players information about their stake and winnings, while fractional odds tell players about their winnings alone.
Furthermore, you can easily convert decimal odds to percentage form. It does not involve addition and division as in the case of fractional odds. To convert decimal odds to percentage form, all that is required of you is to convert divide 100 by the odds. For example:
5.0 = 100/5 = 20 %
1.5 = 100/1.5 = 66.67%
2.5 = 100/2.5 = 40%
2.0 = 100/2 = 50 %
Due to their simplicity, this odd format can be easily understood by new bettors. If you find it difficult to analyze fractional odds as a newbie, you should consider decimal odds.
With these odds, you can quickly calculate your returns. To know your return, multiple the odds by your stake. For instance:
£2 = £2 x 4.0 = £8
£10 = £10 x 4.0 = £40
£5 = £5 x 4.0 = £20
American Odds: How they work?
It will interest you to know that some bookmakers have started to introduce this type of odds in esports betting. The knowledge of American odds is equally important because it will enable you to compare odds from different bookies.
American odds usually start with a positive or negative sign. An American odd with a negative sign tells you that amount you are required to wager to earn a £100 gain. While those with positive signs show the amount you will earn if you bet £100.
American odds is a practical way of representing odds in a way that will be related to how much you might stake. It is essential to understand this type of odds as it is gradually gaining popularity as a way of representing esports spreads worldwide.
Esports Games with the Best Odds
- Dota 2 Betting
- League of Legends Betting
- Overwatch Betting
- Valorant Betting
- FIFA 2020 Betting
- Fortnite Betting
- Rocket League Betting
- Counter Strike Betting
- Call of Duty Betting
Esports Betting Odds Conclusion
If you are willing to step up your game as an esports bettor, then you need to know how odds are displayed. Knowing the different formats esports odds are represent comes with several benefits. Apart from boosting your success chances, it also allows you to explore different betting strategies and use them to your advantage.
Some of the esports betting odds we considered include American odds, Decimal Odds, and Fractional Odds. If you are new to esports betting, you are advised to stick to decimal odd for a start as it is simpler and gives you accurate information about your stakes and winnings.