It’s impossible to wager on competitive games without understanding esport betting odds. These numbers are at the core of every bet you place. So, knowing what they mean is the first step to making informed wagers.
Whether you’re a new bettor or an experienced one looking to brush up their knowledge on betting odds, I have you covered. I created this comprehensive guide to detail everything about these odds. You’ll also learn the top tips we at the Frog use to find and bet on the best lines. Without further ado, let’s dive in!
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When I started my betting journey, I found it challenging to understand the concept of these numbers. Keep in mind that odds are not particular to esports wagering; they are essential in all betting sections, including traditional sports betting. So, once you grasp the basics, you can apply them in regular sports betting.
To make things easier for you, I’ll start by stating the obvious meaning of odds — numbers that show the probability of an event happening. This is the textbook definition, and truly, it does tell you the possibility of something happening. However, they also indicate your potential win from your bet.
Take the match between T1 and Gen.G as an example. Assuming their odds are as follows:
This shows that T1 has a better winning chance and is the game’s favorite. Gen.G, on the other hand, is an underdog, meaning the team with a lower winning chance.
If you want to understand esport betting odds better, you must know how they are displayed. Various formats exist, but American, Fractional, and Decimal odds are the most common.
These options revolve around the number $100. They are presented as whole numbers with plus and minus signs in front of them. The fixture I stated earlier is an example:
All favorite teams get assigned the minus sign. This negative sign also tells you that you must bet to potentially win $100. So, in the case of T1, you must wager $150 to get a chance of $100. On the other hand, underdogs get a positive sign. The plus shows how much you win if you bet $100. As such, if you back Gen.G with $100, you get $130 if the team wins.
Note that the $100 bet and win is just a representation. The amount you win adjusts based on how much you wager. For instance, if you bet $150 on Gen.G, you can get $195 a profit if the team is successful; that’s a total payout of $345.
Also known as European odds, numbers in this format appear as fractions. To illustrate, consider a team having odds of 7/2. The numerator shows your potential profit, while the denominator shows the amount that gets you that profit in the case of 7/2, which means you get $7 for every $2 wager. If you bet $100 on these odds and win, your profit will be $350, and your total payout will be $450 ($100 + $350).
Unlike fractional and American odds that show you the potential profit, decimal odds display the full payout for a $1 wager. As such, odds of 2.6 show that you will win a total of $2.6 if you bet $1 on these lines and win. To get the amount you’ll receive from betting on decimal odds, multiply the number by your bet amount. This means if you wager $100 on odds of 2.6, your total payout will be $260.
The variations in the appearance of these numbers might cause you to think that they specify different things. However, they all pass the same message. The best esports betting sites will feature these formats and more, allowing you to choose the one that you easily understand. So, changing the format doesn’t increase or decrease the odds.
Absolutely. In fact, to further emphasize my point of odds representing the same thing, we’ll change the same numbers from one format to another.
The formula you use depends on whether the numbers are favorite or underdog odds.
| Market | Formula |
|---|---|
| Favorites | 100/odds |
| Underdogs | odds/100 |
If you want to change +200 to a fractional display, you divide it by 100, so it becomes 2/1. On the other hand, if the favorite had odds of +150, you divide 100 by 150, and this equals 2/3. Can we change these numbers back to American odds? Of course, let’s try it and see.
Here is the formula to use for this change:
| Market | Formula |
|---|---|
| Odds are greater than 1 | Numerator * (100/denominator) |
| Odds are less than 1 | —Denominator * (100/numerator) |
In the case of 2/1, we’ll use the first formula to get 2 * (100/1); this gives us +200. Meanwhile, 2/3 is less than 1, so the second formula works in this case. You use —3 * (100/2); this means —3 * 50, which equals -150.
The formula for changing American to decimal odds also depends on whether the numbers are positive or negative. Check them out in the table below:
| Market | Formula |
|---|---|
| Favorites | (100/American odds) + 1 |
| Underdogs | (American odds/100) + 1 |
Still using -150 for the favorite, we have (100/150) +1; this equals 1.67. Meanwhile, for underdogs with odds of +200, you use (200/100) + 1; this equals 3.
In this case, the formula depends on whether or not the odds are greater than 2.0.
| Market | Formula |
|---|---|
| Greater than 2.0 | (Decimal odds – 1) * 100 |
| Underdogs | –100/((Decimal odds – 1) |
Using the figures we got in the previous section, we have 1.67 as the odds. This means –100/(1.67 –1), which gives you –100/0.67; that’s approximately -150. For odds of 3, you use (3 – 1) * 100, which equals +200.
This option is quite simple, as you only have to divide the numerator by the denominator and then add 1. So, using 2/1 as an example, you do the division, which results in 2. Add 1 to this, and you’ll get 3. If it’s 2/3, you have approximately 0.67 after the division; add one to get 1.67.
You reverse the steps when changing from decimal to fractional odds. In that case, you start by subtracting one and then changing the remaining number into a fraction. Using 3 as an example, you subtract one to have 2. Then, make 2 into a fraction to get 2/1.
“Margin” is a term that usually comes up alongside the “odds” and “lines.” I remember being in the dark about this word and mistaking it for the odds. However, the margin is the house edge or the commission a sportsbook charges for every bet. It’s the difference between the actual odds of an outcome and the odds the sportsbook offers.
For example, if the actual probability of a team winning is 60%, which is -167, but the odds offered are -135 in American format. The margin is the difference between the true odds (167) and the provided odds (135). This allows the sportsbook to profit in the long run.
Note that just as the odds vary across betting sites and esports titles, so does the margin. They are usually higher for less popular games and lower for well-known options like CS:GO and League of Legends. That’s because there are many other sportsbooks covering mainstream events, so each operator tries to offer attractive lines to draw player interest.
Each electronic sport has its markets. For instance, for Rainbow 6 esports betting, you can wager on the player to get the highest kill count in a match or the player with the most first kills. Meanwhile, you won’t find some of its markets if you opt for other competitive games. Still, some markets are common in most electronic sports. I’ve listed them below:
At the Frog, we’re all about making your betting experience as enjoyable as possible. That’s why I’ve provided a few tips for wagering on esport odds.
One thing to note about esport odds is that they can vary across sportsbooks. The difference might not be a lot, especially for highly-anticipated events. However, this small margin greatly impacts your potential payout. Consider a sportsbook that offers odds of –110 for an event, and another has odds of –112 for the same event. It means you get $100 if you bet $100 on the first sportsbook and win. Meanwhile, that same $100 bet gets you $112 on the second platform. Can you see why I always shop around for the best esport odds? With this, I can get the most from every winning bet.
I know the different odd types can be a lot to take in at once. So do what I did — find a comfortable format. The American display was the easiest for me to understand. Plus, it’s available in most sportsbooks, so I stuck with that. Over time, I familiarized myself with decimal odds before moving to the fractional format. You can also apply this strategy. If an American or decimal display is easier to grasp, start with those, then work your way to other formats.
Betting on the favorite is safer because that side has a better chance of winning the game. But sometimes, it’s not always the most favorable option. Look for games where the favorite and the underdog have almost equal chances. Then, evaluate past performances and their current form to see how well the underdog team has stood its ground. You might bet on the underdog if the team has a winning chance.
Whether you’re engaging in esports crypto betting or using fiat money for your sessions, ensure you gamble responsibly. The best way to do this is to set a budget. Decide on how much you want to use for your betting sessions and make sure that you are above the legal gambling age in your area of residence. Ensure you use only funds you can afford to lose without straining your finances in the slightest. Setting a budget is one thing; sticking to it is another. I suggest putting your gambling funds in a different account, so you’re not tempted to touch money that was not slated for online betting. Also, learn to take breaks. Some sportsbooks offer restriction tools you can use to control how much time and money you spend betting.
The odds are undoubtedly one of the first things I consider when selecting an esports betting site. However, several other factors contribute to a sportsbook’s standing in my books. The following are some of the most important things I note about a platform:
You enjoy several advantages when you understand how esport betting odds work. For starters, you can easily identify favorites and underdogs, which is basic knowledge every bettor should know. It also makes it easier to compare the lines of various sportsbooks and pick the best ones. However, there’s also one drawback, though not a serious one. Check out these pros and cons below:
Now, when you visit the lobby of an esports betting site, you won’t be wondering what the numbers mean. This simple knowledge can go a long way in elevating your betting experience. You can easily identify value odds and quickly decide the best side to bet on. Just ensure to use a format you’re comfortable with and find a reliable platform with the best lines.
Odds and lines are often used interchangeably. While this is quite accurate, they operate a little differently. “Odds” is an umbrella term covering both the possibility of an event happening and your potential payout. On the other hand, lines are the specific odds that a sportsbook sets for an event.
The margin is the commission the sportsbook takes on every bet. They show the difference between the actual odds of an event happening and the odds the site offers. Basically, the larger the margin, the less your potential winnings, so go for sportsbooks with high odds and lower margins.
You can identify the most favorable odds by comparing those on various sportsbooks. Ensure that you use the same markets during this comparison. This way, you can pick the sportsbook with better lines for that market.
