The growth of esports has been tremendous in the past couple of years, with major tournaments being held everywhere in the world. With the growing interest in esports, the interest in betting on them is also on the rise. However, betting can also be tricky, as it carries with it a risk of losing money. To make informed choices and decisions, it is crucial that you understand the structure of odds and markets.
We take a closer look into how to bet and how to do so with a better understanding.
Esports Betting Odds and How do they work?
Now you might ask, what exactly are betting odds? Like any other bet, the odds signify the chance of a certain favorable outcome occurring. Likewise, the odds can be represented in three different ways:
American Odds
These are expressed as positive or negative numbers. The positive number basically tells you how much profit you can make on a bet. These are expressed with a + symbol. For example, if you have +300 odd on a $200 bet, then that means you make a 300 profit. On the other hand, the negative number suggests the amount of bet you need to get a profit from the same amount.
Decimal Odds
Decimal returns simply point out the number of returns you might get on your bet. The higher the odds on a particular stake, the higher the returns. If you have a 2.5 odd for every $1 bet, you would profit $2.5 including the stake.
Fractional Odds
A metric used in the UK, these odds act very similarly to the American odds. The numerator signifies the potential profit, while the denominator suggests the stake. It is denoted as 4/1, so you will win $4 for every $1 stake.
Esports Bet Markets
With a short explanation of the odds, we also need to know about the markets or the thin that you can bet on. Every other esports will have a separate aspect to bet on. We discuss a few in detail:
- Match Winner: This is a very easy one to understand, as this takes place in sports like Horse racing as well. This is simply a bet on the potential winner, in which the bids on the winning team hold the most value.
- Handicap Betting: Making the underdogs rise is the motto of this type of betting. It basically allows you to bet on whether the underdog will rise up, or regulars will keep their place.
- Tournament Winner: A successor to the match winner, this market allows you to bet on the winners of the tournament. You simply need to put your bet on the team you suppose will win the whole show.
- Over/Under Bets: A gameshow-like bet, this allows you to bet on whether certain events occur over the set amount or under the set amount in a game.
Now that you understand the basics of betting, you also need further knowledge on the esports scene and be ready to place your first bet. This DraftKings promo code can offer you a lucrative start on such a platform. A detailed background check is certainly necessary if you want to put your dibs on a certain team.
Knowing their strengths and weaknesses, along with their match histories and recent team composition changes, are some factors that will help you place a bet with confidence. With so many esports games out there, it is certainly better to focus on only one or two at a time.
Moreover, you also need to be well-versed in the online esports betting culture. Abiding by the rules of betting websites is a must, and with several parts of the world having different laws, thorough research is a must. It will give you the necessary insight into the laws, habits, timings, and also events that betting websites provide. With proper knowledge, esports betting is an amusing field to delve yourself into.
