When wagering on e-Sports, you must understand the esports betting odds calculated and how they work. Why? They help suggest the probability of getting a win, the amount you will earn, and the risks of your bet.
Before you understand how esports betting odds are calculated, the chances might seem quite confusing. However, we've simplified everything in this article and made it as clear as possible for you to understand. An odd shows the chances of an event happening. Outside the gambling world, you would define it as a chance, and it's stated as a percentage. Esports betting odds are mostly similar, but the format might be different.
For instance, in a Premier League match between two clubs, there are three possible results- 1X2. Any team can win, or the contest can be a draw.
It's the bookmaker's job to know how esports betting odds are calculated in each event using various information like history, form, and other factors. Some bookies express them as a fraction, while others do it as decimals.
What Are Esports & Esports Betting?
Before we explain how the esports betting odds are calculated, let's tell you what it is. It is any competitive online videogaming with many options for you. The contests can be first-person shooters, multi-gamer online games, or sporting esports.
Millions of gamers and fans enjoy playing e-sports globally, with tournaments attracting huge followings on streaming services such as Twitch.
What Is Esports Betting?
In the past few years, esports is becoming more prevalent, particularly when live sports got cancelled after the Covid-19 pandemic. Despite the markets and the esports games for betting being highly different from regular sports betting, they follow the same principles. You're familiar with the rules if you've bet on your favorite team to win or how many goals will be in a competition.
In best esports betting tools, the results are well displayed. But you'll notice different markets such as kills market and map winners. And, with a lot of live streaming with eSports, you'll notice that live betting is very popular with constantly changing betting markets.
You should also remember that before actually placing a bet, you need to make sure the platform you're using can be trusted. This is similar to online roulette Australia real money or other online gambling requests. Checking review websites is one of the best ways to do so.
How Esports Betting Odds Are Calculated
Note that bookmaker margin affects the way bookmakers work out possibilities.
Sportsbooks might refer to profits as vig or margins. However, they determine the profit themselves and adjust their favor accordingly. For instance, they can add a tiny percentage to a market to guarantee that they make a profit.
For example, when a great team goes against an underdog, that team will be the favorite with reduced chances because they have a bigger chance. The edge on the smaller team are high because the bookmaker has established that it has a little possibility of getting a win. Using a complex betting arbitrage calculator and factoring that more cash will be wagered on the favorite, plus profit included, the bookmaker sets its features to make a profit.
What Are Odds Anyway?
Odds are similar to the ones you see in regular gambling. They can appear as decimal odds, fractional odds, or American odds. They are a way of showing players the chance of getting a victory. For example, a 2/1 fractional odds bet has a bigger chance in the view of a betting site compared to something such as 200/1 fractional odds.
How Odds Are Calculated
Regarding eSports odds calculation, the odd makers rely on several factors such as odd compilers, traders, and risk analysts to assess the actual market and betting markets, especially when calculating live betting odds.
Experts give betting providers the chance of an event occurring based on each factor – injuries, current form, past performances, etc. They utilize all these to predict the outcomes of a certain betting market. They also consider the cash in the wagers. The favorite titles usually have more money compared to underdogs.[break]recomended_links[break]
The bookmakers utilize these details to determine their chances, estimate the number of individuals who will place bets, and calculate odds that will attract players and bring great returns to the site.
Decimal odds example
The amount you win mostly depends on the available figures and the amount you bet. The possibilities are a reflection of a likelihood of a specific outcome.
The decimal odds format can come as American odds or decimal. They are the easiest way bettors can decide the amount they will win—the lesser the decimal number, the bigger the team winning prospect. Bigger odds come with reduced probability. You can know your tools for betting winnings by multiplying the odds with the amount you want to bet.
Below is an example of a bet. Assume you're choosing two teams:
- Team A: 1.60
- Team B: 2.50
If you bet $100 on Team A, your potential winnings will be $160. You've multiplied stake and odds to get returns. Your profit will be $60.
On the other hand, if you bet $100 on Team B, your potential returns will be $250.You get a profit of $150.
When placing an esports bet using decimal odds, your stake is referred to as a "to risk". Sportsbooks and casinos, like the best online casino NJ, mostly display the stake amount and the potential win in the bet ticket. Bettors can also use the information in decimal odds to bet the expectation of a specific result.
You divide one by the figures. In our case, Team A, 1/DO is 0.625. It has a 62.5% chance of winning.
For team B, it's 1/2.5, which is 40%.
When you add the two, the sum is 102.5%. It's because the bookmaker has included its margin. 2.5% is the cash they are aiming to get. The lower the margin, the greater the value to a player.
Below are other types of esports bets:
- Outright is a popular bet you can place on online bet sites. Here, you wager on an event's outcome instead of an individual game. For instance, a bookie might ask its customers to predict who will win an international tournament. They can also focus on certain variables within matches, such as how many contests a specific team will win.
- Handicap: Also known as a spread bet, it is where sportsbooks give underdogs an advantage and the bigger team a disadvantage to level the field. For instance, a team might get a 2-0 advantage meaning the strong team will have to score three-plus goals to win.
- Multiple bets: To enhance your winning chances, you can opt to place an accumulator. Such as a slip combines at least two markets on different events. All your selections should be successful. Payouts are a combination of the total odds multiplied by the stake.
To Sum Up
When choosing your wagers, it's important to understand how esports betting odds are calculated, how bookies work out in-play possibilities, and understanding providers are always going to place bets in their favor. It's vital if you want to get the best experience and enhance your returns.
However, by researching, use of a betting odds calculator, carefully checking forms, and utilizing your expertise in e-sports, you can maximize your edge and find great value in the activity.