My foray into the world of sports betting was as a punter, primarily following the ups and downs (well, mostly downs…) of my local team as they battled against the ever-present threat of relegation. Over time, I began to become more and more interested in the ins and outs of various strategies and became adept at spotting a good operator.
My day job was, at the time, writing and editing for a local newspaper, so turning my professional skills to my interest in sports betting followed naturally. I started writing about sports betting as a hobby initially with my own blog, analysing odds and providing betting tips where I thought I could find value. Eventually, I was headhunted to write the same content for a betting firm, which resulted in me leaving my local paper job behind and turning my professional interests solely to sports betting writing by 2017. Since then, I have been proud of the body of work I have been able to produce.
Using my interest in all aspects of the sports and gambling world to guide me, I now write for Betting.net, compiling operator reviews, bonus reviews, and sharing the tips and tricks across our various sports betting guides. When I’m not at my keyboard, I am an avid rock climber, with an ultimate goal of eventually ascending the Seven Peaks — if I can fit it in between penning the latest bookmaker review, that is!
Although sports like football, basketball, and tennis are the go-to options for many punters, one of the emerging markets predicted to be the entertainment of the future is esports. This rapidly growing industry has millions of fans the world over.
Consequently, more and more bookmakers are jumping on this sports betting bandwagon. In the following guide, we’ll explain how you can make the most of your esports betting experience by finding the best esports odds and more.
Most important reason to compare esports odds – make some money
While you may enjoy watching esports for the entertainment experience, if you want to make some money from this entertaining sport, you’re going to need to understand esports betting odds. Ultimately, odds are the primary part of any esports and are applied to various esports betting markets.
Carrying out a bookmaker odds comparison is a simple and effective way to increase your winnings. This is because odds tend to fluctuate, and by that, we mean increase and decrease consistently before placing your wagers. So it’s imperative to keep on top of the game, or shall we say games, by knowing your odds and ultimately being one step ahead. While betting on esports is ultimately a gamble, at the end of the day, it’s better for you to make a calculated risk instead of randomly placing your esports bets.
How do bookmakers determine their esports odds? – a closer look
Ultimately, it is oddsmakers who are the deciding or determining factor for the esports odds available on your sportsbook. These esports odds are calculated in a specific or precise way and eventually give the bookies the upper hand. But they still make sure that customers come back for more. So the task of an oddsmaker explained in very simple terms, is to take account of all factors that might affect the outcome of any given event and provide odds that benefit both the punter and the bookie.
Why do esports odds vary between bookmakers?
Esports odds will vary between one bookmaker to the next, and because they take in proportional amounts of wagers, they do need to make a profit irrespective of the outcome. Consequently, odds do have a tendency to change, and the reality is that they constantly do. So if one side is favored more or not at the moment, there’s no reason to dismay. The entire situation can basically turn around overnight.
Ultimately, several aspects come into play with esports, and all of them have a level of influence on the esports odds. Moreover, Esports is a relatively new market, and consequently, many bookmakers don’t have the required knowledge about it. So if you consider yourself an esports fan and you follow the industry frequently, you’ll have the upper hand on the bookmaker irrespective of their odds.
Most popular esports odds formats explained
While the format in which odds are displayed on different bookmaker sites varies, ultimately, they function similarly. Although in reality you will probably use a betting odds converter to move between the different odds formats, it is still worthwhile having a basic understanding of each type as well.
Decimal odds explained
Decimal odds are one of the most commonly used and easiest-to-read types of odds that you’ll find on many bookmaker sites. Ultimately, they apply to anything in the esports world. So irrespective of which game you bet on, you can expect to find decimal odds applied.
Example: If the decimal odds are 5.5 and you bet $1, you would receive a $5.50 return if you win.
Fractional odds explained
Fractional odds are quite common in the UK. However, it’s not a popular format, but it is still commonly used for predicting how likely a specific event is to occur in the UK.
Example: If the fractional odds are 10/1 and your stake is $1, you win $10, and you’ll get your $1 back, making your return a total of $11.
American Odds explained
American odds are widely used in the United States, and it’s an easy and quick way to read the odds. American odds involve positive and negative numbers, and they are crucial in understanding how to interpret American odds.
Example: If the odds are +200 and you stake $50, you would make a $100 profit from your $50 stake, and the bonus is that you get back your $50 stake. So ultimately, you would win $150, including your $50 stake + $100 profit.
How to calculate the expected value – and give yourself an edge
The formula for calculating Expected Value is not rocket science – simply multiply your probability of winning with the amount you could win per bet, and subtract the probability of losing multiplied by the amount lost per bet:
(Probability of Winning) x (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet)
While there are many resources to find the best esports odds on the market, some valuable research will do you good. This is where the expected value calculations come into play.
Expected value is basically an indication of how much you can expect to win, on average, on each bet. Ultimately, the same betting scenario can be applied over and over again to the odds to determine whether they are actually worth wagering on.
So an expected value bet can be calculated by multiplying the odds probability by the amount that you could potentially win, and then you can subtract the probability of losing, multiplied by the amount you would lose.
Ultimately, what you’ll find using the EV calculation is that sportsbooks will ultimately tilt the odds in their favor so that they can stay in profit. Learning how to use a betting odds calculator is time well spent as it will enable you to quickly calculate the EV for any given odds in seconds. Not only is it much faster than you could calculate manually, it also removes the margin for error.
By using our resources at Betting.net, you’ll make sure that you not only use bookies with the lowest possible betting margins, but you’ll give yourself the opportunity to take in maximum possible profits as well.
Why loyalty doesn’t always pay – but shopping around does
Shopping around for the best possible prices for everything from clothing, food, consumer electronics, and cars is a common practice among the majority of people. However, when it comes to sports betting or esports odds and betting, this is not a natural occurrence. For some reason, punters decide to stick with a single bookmaker, usually for the sake of being loyal and more so because they are uninformed. However, the reality is that shopping around for multiple bookmakers has its advantages, so let’s take a look at them.
Esports special offers
By shopping around and making use of more than one bookmaker, you have the opportunity to take advantage of bonuses and promotions, like enhanced odds offers, from each site. So not only will your special offers and bonus money accumulate, but you’ll increase your chances of winning.
Access more markets
As mentioned earlier, the esports betting industry is new to the online betting world, and as such, not every bookmaker is going to offer every possible league or team on their site. So if one specific bookmaker does not offer a team or game that you’re looking for, there’s nothing stopping you from moving on to the next, and so on. So to maximize getting the best odds as well as your favorite games and teams to bet on, you should expand your options and never just bank on a single bookmaker.
Other factors to consider when comparing esports odds – keep an open mind
Understanding how odds work is a vital part of any sports betting strategy. Making an odds comparison before placing your wagers is always recommended. It’s also a significant part of the process, and if you do it correctly, you definitely take in profits. However, simply going with a bookmaker based on their esports odds is not recommended. Several other factors come into play, and you need to take all of that into consideration to have the best overall esports betting experience.
For example, if you place a bet on an important game with great odds, but somehow the wager didn’t get to the bookmaker site, you need to get in touch with a customer service consultant to resolve it immediately. This is why it pays to go with a bookmaker that offers 24-hour customer support. This way, you’ll be able to get in touch with a representative from the company and resolve your issues quickly.
Additionally, opt for bookmakers with special bonuses and promotions. Suppose you place a wager at slightly less valuable odds, but the bookie offers great incentives such as special bonuses and promotions; it may still be worth your while because of the value of the bonus.
Odds comparison vs live betting – trickier than it seems
Live betting is undoubtedly the most exciting way to bet online. However, this type of wagering does have its drawbacks as well. This is because live betting is a risky business. You can basically win a fortune or lose your entire big bankroll in the blink of an eye. There are, however, some pieces of advice to use in esports live betting, so let’s take a look at them.
Lots of bookmakers offer the early cash-out feature during in-play betting. It’s a great option to use if you notice that your favorite sports team may be flagging in the final stages of the sports showdown. So instead of letting your entire bet go down the drain, you can choose to cash out at the right time and still walk away with a decent amount of profit as opposed to losing your entire wager.
Keeping an eye on the live score
Live betting naturally takes place in real-time; however, it does pay to keep an eye on the esports score at all times. Reputable sportsbooks will at all times have the sports match clearly visible, along with the esports live odds and current score, so that you can make a live bet with a certain degree of confidence.
Conclusion – check out the best esports odds
The esports betting market is an emerging one and is hugely popular around the world. That said, it pays to do your research and learn more about this emerging industry before making your wagers. The good news is that our team at Betting.net has traveled the extra mile and put together loads of resources that explain esports odds, esports betting strategies, and more. These guides will help you stay one step ahead of the competition and reach your ideal esports betting destination.
Esports betting is a new market and a very popular one at that. Consequently, there are many bookmakers offering these services, and you’ll need to use your due diligence to filter the legitimate sites from rogue ones. So we suggest taking advantage of our esports guides to help you on your journey to finding a safe, secure, and legitimate esports bookmaker.
🍣How do I get started in esports betting?
Esports betting is very popular and also the newest sports betting market at the moment. If you’d like to get started, you’ll need to do your research and learn all you can about this new market, including how to take advantage of esports bonuses and promotions and esports dropping odds. Feel free to check out our esports resources to learn more.
🍩Do I really need to compare esports odds?
Some people place value on making an esports odds comparison, and others do not. Ultimately, the choice is yours. But in order to determine whether or not you should be comparing esports odds, you should first understand the benefits of doing so. Our comparison guides will help you along your way.