Understanding How eSports Betting Works
Esports betting is a form of gambling where people place wagers (make bets) on esports matches or tournaments. Esports betting can include multiple competitive video games, like CS2, Dota 2, League of Legends, and more.
For example, let's say an esports match is happening between FaZe Clan and Cloud9 as part of an ongoing CS2 tournament. Based on your experience watching CS2 tournaments, you strongly feel Cloud9 will win. So, you place a $10 bet on Cloud9.
You need an esports betting site to place bets on an esports event. Fortunately, many online platforms provide esports betting services. These platforms accept bets and give payouts to the winners based on the odds and the amount wagered.
For instance, in the example above, if the odds for Cloud9 winning the match were 1.4, you'll get $14.00 if they win. On the other hand, if you lose the bet, the esports betting site gets to keep the amount you wagered.
Important eSports Betting Terms You Should Know
Esports betting is full of unique terms that would confuse anyone unfamiliar with what they mean. However, to get started in esports betting, you only need to know a few of them, three to be precise. Here is an explanation of the most important esports betting terms you should know.
Odds
Odds is a number that represents the likelihood of an event occurring in an esports match. They also determine the potential payout for a bet. However, reading the odds and figuring out what they say about the potential payout or the probability of an outcome can be a bit confusing. We'll explain how to read all types of odds in a later section.
Betting Markets
In esports betting, you aren't just limited to placing bets on the winner of the match. You can place bets on the first kill, the winner of the entire tournament, and more. These different types of bets and wagers are called betting markets.
Bookmaker/Bookie
A bookmaker or bookie is a person, platform, or organization that accepts bets from bettors. In the context of esports betting, websites that offer esports betting services are the bookmakers. They create and offer betting markets on various esports events. Plus, they set odds for those betting markets.
For a long time, bookmakers existed as physical locations where people would go to place bets. However, it is unlikely that you'll find a physical bookmaker offering betting markets for esports events. These days, hundreds, if not thousands, of bookmakers, exist in the form of online platforms.
Types of eSports Betting Odds & How to Read Them
There are three odd formats that you can find in esports betting. There are Fractional odds, Decimal, and American odds. However, the first two are the most popular, and you will rarely see American odds used at an esports betting site.
Fractional Odds
In the fractional odds system, odds get represented in a fraction, like 4/3 or 6/5, pronounced four to three or six to five, respectively. The number above the fraction represents your potential return, and the number below represents the betting amount you need for the return.
Let's take fractional odds of 4/3 as an example. It tells you that if you bet $3 and win, you'll get $4 in return. What about bets higher than $3? To get your new fraction, multiply the existing fraction with the multiple you used to get your betting amount. In other words, if you bet $15, which results from a multiple of 5 on $3, your potential return is $20 since the fraction now becomes 4/3 x 5 = 20/15.
Another thing that the number 4/3 tells you is the probability. Since odds of 4/3 get you a lower return than odds of 2/1, odds of 4/3 suggest that the outcome with these odds will have a higher chance of occurring. On the other hand, an event of odds 2/1 has much fewer chances of occurring because the reward is a lot compared to 4/3. With odds of 2/1, you'll essentially double your money.
Decimal Odds
Once you've understood fractional odds, understanding how decimal odds work will be a piece of cake. Fractional odds can directly convert into decimal odds using basic mathematics rules. Odds of 4/3 become 1.33 and 2/1 become 2.0.
Reading the decimal odd format is also very easy. Simply multiply the odds by your betting amount, and you'll get your potential return. For example, if you bet $100 on an outcome with odds of 2.0, you will get $200 in return.
Decimal odds represent the probability of an outcome occurring exactly how fractional odds do. The higher the return, the lower the chances of you winning.
American Odds
American odds use a number with a positive or negative sign to represent probability and potential return. American odds are somewhat complex, but they get easier to understand with an example.
Let's say a particular outcome has odds of -250. It means you need to bet $250 to win $100. Conversely, if the odds are +250, you'll receive $250 if you bet $100. Since the odds of +250 give you a much higher return than -250, +250 also tells you that the outcome is less likely to occur.
Types of eSports Betting Markets
As mentioned, there are multiple types of betting markets in esports betting. Here is a list of the most common betting markets you can expect to see at an esports betting website. However, not all betting sites offer each of these betting markets. Plus, you might even see some unique betting markets on some platforms.
- Match Winner/Moneyline: Betting on a team or player that will win the match. It is the most common type of bet.
- Tournament Winner/Outright: Betting on the team or player who will win the entire tournament.
- First Blood/First Kill: Betting on which team or player will get the first blood, which is the first kill of a match.
- Correct Score: Betting on the final score of a match. For example, a CS2 match will end with a score of 16 - 12.
- Total Rounds/Maps: Betting on the number of rounds or maps played in a match or event.
- Over/Under: Betting on whether a specific statistic, such as total kills, rounds, or points, will be above or below a set value.
- Most Kills/Assists: Betting on the team or player getting the highest kills or assists in a match.
- Special Bets/Props: Betting on specific occurrences or events, like the first team to destroy all towers in Dota 2.
Live eSports Betting Explained
With regular esports betting, you can bet on esports events days or even weeks before they start. With Live esports betting, on the other hand, users can bet on an esports event as it takes place in real-time. In other words, you can watch an esports match live and place a bet before it ends. Live esports betting also has separate odds, which keep changing according to the situation of the event.
Step-by-Step Guide for Getting into eSports Betting
Getting into esports betting is straightforward, but many beginners might find it complicated. Here is a step-by-step guide that explains the complete process of esports betting.
- Step 1: Choose an esports betting site. Make sure that the platform is legit and offers everything you need. Check our best eSports betting sites here.
- Step 2: Once you've decided on a platform, create an account and sign in. You might have to enter information, including your name, e-mail address, and country of residence.
- Step 3: After creating an account, you will have to fund it. Go to the deposit section of the website, select a deposit option, and deposit the amount you'd like to bet with.
- Step 4: Select the esports event you want to bet on and go through the betting markets. Look at the odds, and decide on the betting market you want to bet on.
- Step 5: Once you've decided on the betting market, after carefully looking at all the odds, decide on the amount you want to wager and place the bet.
- Step 6: After placing your bet, you must wait for the esports event to reach the outcome you place the bet on, which is probably the most exciting part of esports betting.
- Step 7: Finally, it's time to claim your prize and withdraw all your winnings. Go to the withdrawal section of the site, select a withdrawal method, and initiate a withdrawal.
What to Consider When Choosing an eSports Betting Site?
Imagine making deposits on an esports betting site, but all the money you transferred disappears, and the website's customer support stops responding to your messages. That happens when you aren't careful about the betting site you choose. While most platforms are legit, there are plenty of scam sites.
You should pay extra attention when finding an esports betting site for yourself. Not only should you be aware of scams, but you also want the website to cater to all your needs. Here are the factors you should consider to find such a site.
- Legitimacy and Trustworthiness: Ensure the site is licensed, regulated, and has a good reputation and user reviews.
- Supported eSports Games: The betting site must offer betting services for esports video games or events you wish to bet on.
- Deposit and Withdrawal Options: Select platforms with the deposit and withdrawal options you need.
- Betting Markets and Odds: The platform must have enough betting markets and fair odds compared to others.
- Site Usability: Look for a site that has a user-friendly interface. The site needs to have easy navigation and an intuitive UI.
- Website Design: The website's design & theme also affects your experience. Choose sites that look attractive to you.
- Bonuses and Promotions: If a site meets all other requirements, bonuses and promotional offers are great additions.
To help you with that, we have added a few leading eSports betting platforms bellow.
Top eSports Betting Tips & Strategies
In esports betting, you can drastically improve your chances of getting positive results by implementing a few strategies. Esports betting isn't like other forms of gambling (casino games etc.) where you rely only on luck. Here are some of the most effective strategies you can use in esports betting:
- Stick games you know most about. If you don't know the rules of a game, you won't be able to predict outcomes for its matches.
- Follow teams and players on social media. Doing this will keep you updated on changes like new rosters and players' health.
- Watch the recent performances. If a team has been performing poorly in a tournament, it will likely perform poorly in upcoming matches.
- Know when to stop. It's easy to get carried away, but chasing losses won't get you anywhere and ruin your overall experience.
- Explore multiple betting markets. You can sometimes find great opportunities in betting markets besides the matchwinner bet.
- Use live esports betting. With live betting, you can often find odds that don't align with that match's situation, which you can capitalize on. (For Experienced Bettors)
- Don't settle for subpar odds. Switching to a platform that offers better odds takes only one or two clicks.
Conclusion
While esports betting can seem confusing at first glance, it's only because most people don't know what the unique terms mean. Once you get into it, everything becomes much less daunting. Remember, you are in this for enjoyment. Make sure you don't get carried away.
