Esports betting has become increasingly popular in recent years, with many sportsbooks now offering a variety of esports markets to bet on. However, if you’re new to esports betting, understanding how to read odds can be a bit confusing. In this article, we’ll break down the basics of odds used in most best esports betting sites and help you make more informed decisions when placing your bets.
Understanding the basics
Odds are a way of representing the probability of a particular outcome in a game. The odds are usually displayed in one of three formats: decimal, fractional, or American. Decimal odds are the most common in esports betting, especially in Europe and Asia. Fractional odds are more common in the UK, while American odds are mostly used in the US.
Decimal odds are commonly used in Europe and Asia, and are becoming increasingly popular in esports betting. They are a simple and easy-to-understand way of representing the odds, and allow bettors to calculate their potential winnings quickly and easily. One of the advantages of decimal odds is that they are always greater than 1, which means that you can easily tell whether a bet is profitable or not.
If the odds are less than 2, the bet is less likely to win than to lose, and if the odds are greater than 2, the bet is more likely to win than to lose. However, it’s important to remember that decimal odds only represent the probability of a particular outcome, and don’t take into account other factors that may affect the outcome of the match, such as the form of the players, injuries, and other external factors.
Fractional odds are commonly used in the UK and are represented in the form of fractions such as 2/1 or 5/2. The first number represents the potential winnings if you bet the second number. For example, if the odds are 2/1, you’ll win $2 for every $1 you bet. This means if you bet $10 on 2/1 odds and you win the bet, you’ll receive a total payout of $30 ($20 profit + $10 stake).
It’s important to note that fractional odds can be more difficult to calculate compared to decimal odds. To calculate the potential winnings for fractional odds, you need to multiply your stake by the fraction and add your stake to the result. For example, if you bet $10 on odds of 5/2, your potential winnings would be $25 ($10 x 5/2 = $25), and your total payout would be $35 ($25 profit + $10 stake).
American odds, also known as moneyline odds, are commonly used in the United States and are a bit more complicated than decimal and fractional odds. They are presented in two different formats: positive and negative.
Positive American odds are represented by a plus sign (+) and indicate how much profit you will make on a $100 bet. For example, if the odds are +150, you will win $150 in profit for every $100 bet. To calculate your total payout, you simply add your profit to your original stake. So if you bet $100 on +150 odds, your total payout would be $250 ($100 original stake + $150 profit).
Negative American odds are represented by a minus sign (-) and indicate how much you need to bet to win $100. For example, if the odds are -150, you will need to bet $150 to win $100 in profit. To calculate your total payout, you can use the following formula: Total Payout = (Stake / Odds) x 100 + Stake.
The favorite and the underdog
When it comes to betting on esports, understanding the concept of the favorite and the underdog is crucial. The favorite is the team or player that the bookmakers believe is more likely to win the match or tournament. The underdog is the team or player that is seen as less likely to win.
Bookmakers use their expertise and statistical analysis to determine which team or player is the favorite and which is the underdog. The odds reflect this, with the favorite having lower odds and the underdog having higher odds.
Betting on the favorite
One strategy for betting on the favorite is to look for handicap or spread bets. These types of bets give the underdog a point advantage or disadvantage, which can level the playing field and create more favorable odds for the favorite. For example, if a favorite has odds of 1.5, but you’re not confident they’ll win outright, you may be able to find a handicap bet where they need to win by a certain number of points or rounds. This can offer better odds and potentially higher payouts while still betting on the favorite.
Betting on the underdog
Betting on the underdog can be a tempting option for bettors looking to increase their potential payouts. However, it’s important to understand the risks involved. While the odds for the underdog may be higher, they are seen as less likely to win by the bookmakers. This means that betting on the underdog is generally considered a riskier option.
However, betting on the underdog can be profitable if you have a good understanding of the teams or players involved. For example, if the underdog is a team that has recently shown strong performance or has beaten the favorite in the past, it may be worth considering a bet on them.
Shop around for the best odds
Different sportsbooks may offer different odds for the same game, so it’s important to shop around for the best odds. This can help you maximize your potential winnings and get the best value for your bets.
It’s important to note that different esports betting sites may offer different odds formats, so it’s important to understand how to read and convert each format to ensure you’re making informed betting decisions. When it comes to choosing the best esports betting site, look for one that offers competitive odds and a variety of markets to bet on.