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Table of Contents
Odds on esports explanation
If you are a beginning bettor in cyber sports, you probably do not quite understand how to correctly calculate the odds for betting on these disciplines. We recommend you to spend a few minutes of your time to settle this question once and forever, so that you can understand all types of betting odds on cyber sports.
All you need to understand esports betting odds
So what do the odds represent?
Check out this short introduction to fractional and decimal odds and learn exactly how those might benefit you in determining odds on your preferred esports games.
Below you will be introduced to all possible odds, such as American odds, as well as betting strategies that are being used in cyber sports betting. After reading this article, you will be fully prepared to start making profitable and smart bets on any cyber sports discipline, and receiving from them some good payments.
What are decimal coefficients?
Simple method to compute your winnings
Decimal odds on cyber sports can be confusing for the novice bettor. Let’s say you decide to bet on your favourite League of Legends team, but you don’t really understand how much you will eventually profit from that match.
Let’s start with a simple example. You make a $10 bet on Karmine Corp that they will win the League of Legends World Championship, and you see an odds of 6.00. This means that if you are lucky enough to win, you will receive a winnings of $60. And if you bet $5 on NAVI winning a major, and the odds are 4.00, you will earn $20 from the bookmaker.
Everything is very simple: the bigger this decimal sum is, the bigger your winnings will be in the end. However, you need to realise that the higher are the bookmaker’s odds on a particular event, the less likely the event will happen.
Top markets in esport
Place bets on your preferred games
Despite the fact that betting on cybersports is very popular nowadays, it is not very easy to find all cyber sports disciplines at every online bookmaker. This can be explained by the fact that cybersports is still a very young trend, and most online bookmakers still have favoured classic types of sports.
Therefore, the oldest and most respected bookmakers still provide their guests with rather limited cybersports betting markets. But time does not stand still, and bookmakers are increasing the range of possible bets on cybersports with each passing year.
Some countries use an alternative betting system that are called fractional betting odds. The main difference is that these odds do not include the original amount of your cyber sports bet.
What this means is that if you bet that Team Liquid will win the next game with fractional odds of 3/8, it means that for every $8 we bet, we will get $3 in return.
All in all, it’s just an alternative scoring system, and it doesn’t have any particular advantages or convenience, it’s just a well-established traditional betting system in some countries.
How do i predict the expected value?
Earn about your winnings
The expected value is a number that helps us to understand exactly how much profit our average bet is supposed to make for us. You can calculate the expected value of your bet by yourself. To calculate this, all you need to do is multiply the probability of success by the amount you win, and then you need to subtract the probability of an unsuccessful bet multiplied by the amount you lose. To determine these probabilities, you will need to divide each decimal factor by one.
Eventually you will see by yourself that all bookmakers change betting odds in their favour in order to make a profit. This only means that you need to choose online betting companies with the lowest possible betting margins in order to get the highest possible profit from each of your successful bets.
What are arbs?
You may be wondering, why do I need to calculate the expected value of my cyber sports bet? You need this in order to successfully apply a arb betting strategy. It is not the easiest way to bet on cyber sports tournaments, but experienced cyber sports bettors successfully use this method and make good profits from it. They simply use the odds of different bookmakers against each other.
This means that you should place your money on the victory of both FaZe and Team Vitality, but with previously analysed odds from different bookmakers, you will make a profit in any case.
As you have already understood, this is a rather complicated system of betting on cyber sports, but if you are ready to devote your time to search and compare the best odds on a cyber sports event, you are pretty much guaranteed to get profit. Just make sure that the event on which you are going to bet on this strategy, did not have the possibility of ending in a draw.
Matched bets on esports
The extensive experience of long-time cyber sports bettors has shown that matched betting is another lucrative method that can be used in betting on some cyber sports disciplines.
To be successful, you need to make your bet against a potential favourite by betting on the underdog at various online bookmakers. In the meantime, if you use a betting exchange to make an opposition bet, it basically involves insuring all potential possible outcomes to secure your winnings.
The main difficulty is that you need to place these bets at several online cyber sports betting sites. Games that are rarely available at such bookmakers will not be suitable for such bets.
Furthermore, the selection of the necessary odds in any case will take you a decent amount of time and commitment. Bettors who bet on popular sports disciplines do not have these difficulties with such bets, but for cyber sports bettors it is still a complicated challenge. But most likely this is only a temporary problem, as every day more and more betting operators accept a lot of bets on cybersports, and cybersports fans will soon get all the opportunities to realise matched betting in a smart way.
How are the odds worked out in esports?
WHO DOES THE MATH?
Betting companies know their job well, so their specialists thoroughly calculate the odds of their offices in order to make a regular profit without losing their clients. This is true for both classic sports and cyber sports. These people are involved in the analysis of each team, each confrontation, and they know all the strategies as well as tactics of their discipline.
Since betting on cybersports is very popular nowadays, bookmakers use the services of the best experts in this industry. That is why you can easily understand from the first glance at the odds, who is the favourite in a particular match. But you should always realise that every expert can make mistakes, and this especially applies to such unpredictable disciplines as cybersporting disciplines. You can win a lot of money on such mistakes, so it is very important to understand your game and be aware of different insights.
Alternative odds calculation
If you have a good understanding of what fractional and decimal odds mean and how they work for cyber sports betting, then we can’t ignore American odds. Since these types of betting are becoming increasingly frequent at online betting shops, you need to be aware of them to be able to compare American odds with other betting options.
What is different between American odds and other odds is that they start with a positive or negative symbol. If you found such odds with a negative sign at your online bookmaker, the next number shown means how much money you would have to put to make a profit of $100.
But if the American odds have a positive symbol, then the next figure will mean the amount of winnings you will receive if you place a $100 bet on this event.
Compared to the traditional bettors’ odds, this method may look a bit confusing. Nevertheless, it is a very convenient way to explain your odds in values that have a direct correlation with the amount you want to bet. So use this information, because most likely sooner or later you will probably encounter such odds, and it won’t be a problem for you to understand what exactly they are showing you.