Everything you need to know about esports betting odds
Esports is a profitable and hugely followed industry across the world. Research firm Newzoo reported that it had a total audience of 495 million in 2020, and around 2 billion out of the world’s 7.79 billion population are aware it exists. With these numbers alone, its growth has opened an opportunity for esports betting.
Esports betting isn’t very different from traditional sports betting. Aside from betting on a team or player and waiting for the outcome, what sets apart esports betting is that it has a number of other betting options which gives rise to sophisticated odds analyses.
No worries though, because Bitcasino has you covered. Explore the mathematical side of betting and esports odds to get the upper hand next time you place your bets.
Betting odds explained
Online bettors love predicting the outcome of events, and sportsbooks express it with odds. These figures represent the likelihood of an event to happen, thus giving you an idea of how much money you will win or lose based on your wager.
Understanding their differences and how they are correctly read & computed are the most important points in sports betting. This is the initial step before thinking about betting strategies and finding platforms to place bets. With hundreds of betting sites available in the market, esports betting odds always come in three common formats: American, Decimal, and Fractional.
Format: +147 or -180
Also known as ‘moneyline odds’ due to its straightforward bet, these are based on winning $100 (€84.86) for a given wager. As shown above, the format consists of digits accompanied by either a plus (+) or a negative (-) sign before them.
Since the moneyline bet is picking one of the two teams to win the match, the signs tell you the possible payout and whether what you are supporting is a favourite or an underdog team.
In other words, when you want to bet on the favourite, you pick the team with the negative sign, and the number beside it is the amount of money you need to stake to win €100.
On the other hand, if you prefer to take a chance on the underdog, choose the positive sign, and the amount alongside it is the price you will get when you wager the base bet of €100. So, let’s say that you are betting €10 between Astralis (-180) and Fnatic (+147), here is how you calculate the total payouts:
- Favourite (-): [(84.86/Odds) x stake] + stake
- [(84.86/180) x 10] + 10 = 4.71 + 10 = €14.71 if Astralis wins
- Underdog (+): [Odds x (stake/84.86)] + stake
[147 x (10/84.86)] + 10 = 17.32 + 10 = €27.32 if Fnatic wins
Format: 1.40 or 2.50
Decimal odds are the simplest and fastest way to read esports betting odds because the returns shown are based on every €1 bet. Meaning to say, they already cover your stake, whatever amount it is.
There are two different calculations to determine the potential payout and profit. See the example below, but this time, you are betting €10 stake between Virtus.Pro (1.40) and Evil Geniuses (2.50).
- Virtus.Pro: €10 stake at 1.40
- Potential payout: €10 x 1.40 = €14
- Potential profit: €10 x (1.40 - 1) = €10 x 0.40 = €4
- Evil Geniuses: €10 stake at 2.50
- Potential payout: €10 x 2.50 = €25
- Potential profit: €10 x (2.50 - 1) = €10 x 1.50 = €15
Format: 1/5 or 9/2
Also known as the British, UK, or traditional odds, this format is typically used in horse racing. It serves as the ratio between the amount of return (numerator or first number) to the stake (denominator or right side). This is why you read them by ‘one to five’ or ‘nine to two’.
Using simple math, another benefit of using fractional odds is that they are easy to convert to decimal odds. You divide the fractions and add 1.00 for the stake. Once done, you can proceed to the computations explained before for the decimal odds.
Explore esports & casino odds
Are you ready to make some money in esports betting? While the odds are beneficial in your betting decisions, always be cautious when relying on strategies and decisions based on them because, again, they are probabilities. What may have been favoured or not will still likely end up in different outcomes. This is what makes esports betting exciting. It is an ever-growing activity.
If you want to stir up your gambling experience with your number skills, you can also explore the odds of casino table games like blackjack. With only a house edge of 1% and straightforward gameplay, you can earn great rewards as well. Start to beat the dealer by hitting 21 or close to 21 here at Bitcasino’s available blackjack variants.
Words by: Antoinette Laraze