Sports Betting Guide
Esports betting odds and how they work
Understanding what are and how the odds work is a crucial thing not only in esports but also in general betting. Today we would like to break it down for you and explain how the odds work in esports and how to benefit from them.
What are the odds?
Odds might seem a bit complicated to people who are new to betting but that is just how they look. There is nothing difficult about them at all.
Odds are a numerical representation of the event’s probability. They also show tell us how likely we are to win, how much we can earn and the risks that come along with that. Usually, in everyday life, people are using the term “chances” and measure the probability in percentages. Odds are slightly different from chances but basically showing the same thing.
Let’s use a DotA 2 match as an example. Two teams take part in it, and there are only two outcome options: team 1 win or team 2 win, therefore only win/lose. It is obvious that both teams can win, meaning one of them will have the edge over the other one.
So, how the odds are made? It is solely the bookmakers’ job to evaluate the odds. They have to consider various facts such as match history between two teams, rosters, individual player skills, the current shape, etc.
Typically, there are 3 main odds types: moneyline, decimal and fractional. The UK mainly uses the fractional ones where the odds are representing the chances of one winning the number of time out of multiple occasions. To make it simple, let’s use the 4/1 odds. They are basically telling us that a team is likely to win 1 out of 4 matches. Most bookies, though, are using the decimal type.
How to read fractional odds in esports
Fractional odds the original ones and the most common in esports and traditional sports betting. Lots of tipsters don’t like them saying they are unclear and require extra effort to understand. We say they are relatively easier to convert into a percentage form. Here’s how it’s done:
- 4/1 = 1/(4+1) = 0.20 (20%)
- 11/5 = 5/(11+5) = 0.3125 (31.25%)
- 1/1 = 1/(1+1) = 0.50 (50%)
- 1/9 = 9/(1+9) = 0.90 (90%)
We hope this will give you some idea about how it works. We would also suggest keeping some sort of odds calculator by your side as it might come in handy. You can find various odds calculators online.
- If the number on the left is higher than the one on the right, the odds are more against you.
- If the number on the right is higher than the one on the left, the odds are more in your favour.
What do odds tell us about our winnings?
Another great fractional odds tweak will help you easily tell your winnings.
Check this out:
- 4/1 – for every £1 you bet you will win £4
- 11/5 – for every £5 you bet you will win £11
- 1/1 – for every £1 you bet you will win £1
- 1/9 – for every £9 you bet you will win £1
Nice and easy! It doesn’t mean that you can only bet £1 on a 4/1 bet, just multiply your stake by the ratio, and you will know how much you can win. Example: 4 x £5 = £20.
Another very popular type of odds that is becoming more and more popular due to various reasons.
Tipsters say that these odds are easier to read and understand the probability of an esports bet. Another thing that seems to be enjoyed by tipsters is that decimal odds tell you your exact returns (winnings + stake) when fractional ones only give you the information about your winnings only. It is also somewhat easier to tell the actual probability percentage-wise. All you have to do is to divide 100 by the decimal odds.
- 5.0 = 100/5 = 20%
- 2.0 = 100/2 = 50%
- 2.5 = 100/2.5 = 40%
- 1.5 = 100/1.5 = 66.66%
Piece of cake. People who are new to betting should not have problems with these type of odds.
Another great feature of decimal odds is that it’s extremely easy to calculate your returns, all you have to do it to multiply the stake by the odds you have. For example:
- £1 = £1 x 5.0 = £5
- £5 = £5 x 5.0 = £25
- £10 = £10 x 5.0 = £50
- £12 = £12 x 5.0 = £60
Again, do not forget what decimal odds will show you your returns (winnings + stake). Sometimes it might get tricky as you could think that your winnings are bigger, but on the other hand, you do not have to add your stake manually.
Note: Let’s use the 5.00 (4/1) odds as an example.
- Fractional odds: betting £1 you will win £4 due to 4/1 ratio
- Decimal odds: betting £1 you will get betting £6 deposited into your account because £1 x 5.00 = £5 (your winnings) + £1 (your original bet) = £6
Odds have a tendency to change, and if fact, they constantly are. Do not be blinded by the fact that one side is favoured or not at the moment. The whole situation can be flipped upside-down overnight. There are too many factors that come into play in esports. All of them have a certain level of influence on the odds. If let’s say Fnatic has a losing streak then they are rather not to be favoured to win but if NiP will sign a new top fragger player their odds will spike up almost immediately. Unfortunately, it works both ways, but that is how you can gain the edge over the bookmaker.
Esports is a relatively new market, and bookies do not have too much knowledge about it. So, if you follow the industry a lot, you will always be one step ahead of the bookmaker.
Remember, if you placed a bet on the underdog with the odds of 20.00 (19/1), but later it became a favourite with 2.50 (6/4) odds, you will still be paid at the initial odds you placed a bet with.
Esports and esports betting is all about timing, so just keep that in mind!