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Esports Odds 2023: Esports Betting Odds Explained

22.11.2022, 14:23

In esports betting, odds dictate nearly everything. From calculating the probability of an outcome to deciding the winnings, interaction with odds is constant. Understanding esports betting odds is crucial even if you're not planning to wager on esports events purely for profit,

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Esports Odds Explained

In essence, esports betting odds are the ratio that represents the probability of a specific outcome. Of course, it's not an infallible measure: first of all, it's all the bookmaker's opinion. Bookmakers set the odds based on a thorough statistical analysis of the previous esports competitions. Looking at the odds, you can tell right away what bookies think the likelihood of each event in a game is. The higher the odds are, the bigger the profit when real money esports betting.

Esports odds are one of the basic factors in betting on esports. Find out more by clicking the link.

Expected Value: What is it?

GG.Bet Betting Market Odds

Sites like GG.BET offer many betting odds and markets

Expected value (EV) helps to see if a bookmaker offers decent esports odds. It represents the return from a bet. Bettors use this number to compare the odds offered by different bookmakers and find out where the wagering will deliver the highest winnings.

In esports betting, the expected value is calculated by subtracting the likelihood of losing multiplied by the possible amount of money that can be lost on a wager from the likelihood of winning multiplied by the sum of money that can be won.

It sounds wordy when explained like this, but the actual formula is rather simple:

EV = (win probability) x (profit if win) - (loss probability) x (stake).

Implied Probability Explained

Just like odds, implied probability shows a particular esports event's likelihood. The difference between the two notions is that implied probability is presented in a percentage. It's possible to easily convert the odds (no matter the format used) into an implied probability reading.

Odds on

According to their meaning, there are two types of esports betting odds: "odds on" and "odds against." "Odds on" express the higher likelihood of an esports event happening. For example, if you have fractional odds 1/3 or decimal 1.3, the event's particular result is likely to occur with a 75% chance. Lower odds mean that the money won will be less than the amount wagered.

Odds against

"Odds against" has the opposite meaning of "odds on." If you see high esports odds like 7/3 or 3.3, it signifies that a particular event is less likely to happen. In the case of 3.3 odds, bookmakers only give a 30% chance for this specific outcome. If betting on the event outcome, the winnings will be higher than the stake placed. If you bet $100, the profit will be $233.

Types Of Esports Odds Formats

Esports bookies use multiple different odds formats. Essentially, they all represent the same thing, just in different ways. Some of them are more typical for specific regions. For instance, Moneyline odds are used mainly by American bookmakers, while the fractional odds are popular among British betting websites.

Use this converter to find out how the different formats interact quickly!

Odds converter

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Decimal (European)

Decimal odds are one of the bookmakers' most popular types of odds. They are commonly used by Canadian esports betting sites.

Fractional

Bookmakers have used Fractional odds the longest compared to other types of odds. They're most commonly found when using Australian esports betting sites. There are two types of fractional odds — British and Hong Kong. They differ a bit in their representation.

  • British: Used by the UK esports betting sites, British fractional esports odds have two numbers divided by a slash. The number on the right represents the stake, while the number on the left represents potential profit. For example, 5/1 — means that for each dollar you bet, your potential winning will be $5.
  • Hong Kong: Even odds in this system are represented with "1". If the odds are below 1, it signifies the higher likelihood of an event and vice versa. Thus, if a team's odds are 0.35, the team is considered to be stronger - a favorite.

Moneyline (American)

Used by the USA esports betting sites, American or Moneyline odds are represented in two ways. Before a number, there can be a "+" or "-" sign. There is a significant difference between the two types of esports odds.

  • Positive number odds: The addition of "+" before a number denotes that the probability of the event is low or that the team is considered to be the underdogs with a considerably lesser chance of winning a match.
  • Negative number odds: If American esports odds have "-" before the number, it signifies that the team has a better chance of winning the match.

Pint spread bet odds

Point spread bet or handicap is the advantage granted by a sportsbook to the underdogs before the match. It is done to even the odds of both teams when one lags behind. It makes the betting process more interesting and attracts gamblers because the odds, in this case, are higher for the underdogs.

Over/under (total) bet odds

Total bet odds are used for the total type of bets and are represented in American odds. They are set at -110, meaning you will risk $1.10 to win $1. Thus to win $100, you need to bet $110.

Esports Live Odds: How Are They Different?

Unlike traditional betting markets, live esports betting allows punters to put money down while the matches are still being played. The odds offered for this type of betting are called esports live odds. The main feature that differentiates them from standard odds is their flexibility. They change according to the teams' performance during an ongoing match. All the odds changes will be reflected in the bet slip. Different betting markets are closed and opened during this process. Thus, one needs to be attentive not to miss a chance to place a profitable bet.

Due to their rapid changes, the best way to follow live esports odds is by using a robust esport betting app. This way, you won't need to be glued to your PC while betting!

Esports Betting Lines With Best Odds

The most popular esports disciplines provide gamblers with a wide range of wagering options and the best esports odds. Anyone can choose an appropriate bet regardless of their betting experience and game knowledge. Let's take a look at some of the most common options.

Match Outcome/Winner Any esports tournament consists of a particular number of matches played between two competitive teams. When placing a match-winner bet, you simply need to predict which team of the two will take over the match. It is a beginner-friendly bet that requires basic knowledge of the game and the two teams participating in the competition.
Expresses/Parlays Express, also called parlay or accumulator betting, includes two or more bets combined in one wager. It is an example of a more complicated wager that would be interesting to place for a more experienced bettor. Placing a bet like this is tricky: if you get even one wrong, the whole bet is null. Only experienced bettors are allowed!
Map Winner Each game round can be played on different maps with various locations and objectives. Some teams perform better on one type of map and worse on another. When placing Map Winner bets, knowing this information is crucial.
Totals Predicting various total numbers of events happening during a tournament is possible.

For example, users can guess how many rounds will be played in CS:GO best-of-three match or how many maps will be won during a best-of-5 match.

The total number is always predefined by a bookmaker, and your task is to guess whether the final result will be over or under this number.
Tournament Winner/Outright Many big competitions are held during each season across different esports titles. Whether it is LoL World Championship or a CS:GO Major, there will be a possibility to predict the outcome of the tournament. With futures, for example, there is an option to place a bet on a tournament winner long before it starts. It is an excellent opportunity, as esports odds are usually higher for this bet. If you are a fan of a particular esports team and want to support it or if you thoroughly analyze each team's rating, then betting on the winner of the tournament is a solid choice.

Explaining Changes In Esports Odds

A lot of factors should be considered when esports odds are calculated. Betting trends and tendencies, the view of esports analysts, the statistical analysis of the previous teams' performances, and odds featured by other bookmakers are just a few factors.

Pinnacle Esports Interface

Many bookmakers also allow you to change the odds format on display.

Betting Trends

Betting trends are certain beliefs or a range of behaviors that are widespread during a betting period. For example, specific betting markets can be more popular than others. Or, a new esports title can grow in popularity, making bookmakers create more betting options for this game with more attractive odds. Esports odds providers should take into account this information.

Competitors

Another thing that betting sites consider when presenting the odds is the value of the odds on other bookmakers' websites. There are various esports odds providers; however, the difference in odds value is not that significant as they all try to stay relevant and attract more gamblers.

Match History

The prevailing trends of the esports industry are not the only factor influencing the change of esports odds. The previous performances and history of teams and players are also considered. The statistical analysis of the results reached in previous competitions is considered when deciding on underdogs and favorites for every match played in a tournament.

Why Odds Vary On The Same Outcome

Esports betting odds on different bookmakers' sites vary because there is always a human factor. Experts that work for different bookmakers may have different opinions. Also, there is competition between betting websites to attract new gamblers - besides esports bonuses for betting, manipulating odds is the primary tool to achieve that. Thus, the odds for the same outcome vary with bookies.

Payment Operators For The Job

The odds are important, but what's arguably even more important is knowing whether your transactions are in good hands. Many bookmakers offer esports betting with cryptocurrency, but we're focusing on real money for now. Let's wrap up this article with a short list of TIPS.GG approved payment operators.

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Visa/MasterCard

Visa esports betting, as well as MasterCard, is the default choice for many gamblers. However, only use credit cards on the bookies you trust. This method is a tad more unsafe than other options.

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Paypal

Betting sites use PayPal as the most popular e-wallet choice. The resource secures safe and lightning-fast transactions anywhere.

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Neteller

Neteller esports betting is a classic option for many veteran gamblers. Although its popularity is no longer nearly 100% as it used to be, it remains a very solid option.

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Skrill

Betting sites use Skrill as one of the primary e-wallets. It's a safe and secure option that earned its reputation as one of the best options for gamblers worldwide.

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