Forget about a welcome offers and casino bonuses! When it comes to esports betting the topmost criteria in choosing where to wager online on Counter Strike or LOL should be the esports odds offered.
Because choosing the most advantageous bet options will mean one thing: more money in your account if your bet proves successful.
An introduction to esports odds
In online gambling, esports odds are numerical expressions that represent how much money you stand to make on your bet if you choose the correct outcome. Secondly, odds can be used to determine the probability of a certain outcome to occur as set by an online bookmaker.
Careful though, as odds do not necessarily reflect an exact probability and there are many cases when an online bookmaker will offer completely different odds for a match than others.
This is where our odds comparison comes in place as it allows players to quickly identify overall favourites and to spot anomalies, such as one sportsbook choosing a completely opposite probability for an event than all the others.
Figuring out how odds work in esports betting
In esports betting, odds are used to show the underlying chance for a particular team to win a map, a match or even a tournament and, as stated above, to show you how much money you will win if you picked the correct outcome.
Let’s take for example a CS:GO match between Astralis and NAVI. On Pinnacle, the match could have potential odds of 1.70 for Astralis and 3.5 for NAVI for a match win. This means that Pinnacle sees the Dutch team as favourite to win the match, hence the lower (1.70) odds.
Now, to calculate your potential winnings if your bet on Astralis would prove accurate, all you have to do is multiply the value of your bet with the team odds. Let’s say you intended to bet $2, then your returns would be $3.4. As in 2 x 1.7. You would make $1.4 on top of your wager.
If you would have placed your bets on NAVI, and won, your winnings would have been $7. As in 2 x 3.5. You would win your wager back and extra $5.
Esports betting odds formats
Bookmakers around the world can show odds in multiple formats but the main three types are American, Decimal and Fractional. Regardless of their format, they all serve the same purpose: to show the amount that the bookmaker will pay out on a winning wager, together with the required bet. In situations such as a tournament, league or multiplayer event, odds also help provide a perspective on the relative likelihood of certain results.
Fractional odds are betting odds usually associated with horserace betting and are always expressed as two numbers separated by a slash i.e: 7/2. This is used to represent the net amount to be paid in relation to the wager.
Examples of Fractional odds and winnings:
- Odds of 7/2 mean you would stand to make $7 profit for a $2 bet.
- Odds of 2/7 mean that you would make $2 profit on a $7 bet.
This means that in the situation of a positive outcome, you would always receive your wager back plus the extra winnings.
How to calculate the probability of an event using Fractional Odds?
You can also use odds to calculate how likely an event is to happen. In multi-variable situations, such as betting on the overall winner of a LOL Tournament, when you have to choose from multiple participating teams, this can be extremely useful.
To keep things simple let’s replace numbers with letter and turn 7/2 into X/Y. The formula to see the probability of an event to happen (as imagined by the bookmaker) is:
Probability (%) = Y / (X+Y)*100
Here are some actual examples:
- Probability for 7/2 odds: 2 / (7 + 2) * 100 = 22% chance
- Probability for 1 / 4 odds: 4 / (1+4) * 100 = 80% chance
Decimal odds are expressed as decimal numbers (8.54) and are the favourite odds format among online bookmakers because they are easier and simpler to work with. Decimal odds include the original stake in their potential winnings which makes it easier for a player to calculate potential winnings. Decimal odds also allow real time variations, such as the odds for live matches, where players can bet on different odds for the same match throughout the game. To calculate the potential winnings simply multiply your wager with the odds.
Examples of decimal odds and winnings for a $2 wager:
- Odds of 8.54 mean $17.08 total winnings ($15.8 profit and your original $2 stake)
- Odds of 2.5 mean $5 total winnings ($3 profit plus your original $2 stake)
How to calculate the implied probability of an event using Decimal Odds?
Knowing how to calculate the implied probability for an event using decimal odds is even simpler and more straightforward that using fractional odds. The ability to calculate probabilities for a specific outcome are essential to placing successful bets. Combine this with our odds comparison and you will be able to spot trends or anomalies that you could turn into profitable outcomes. Here’s how you calculate the probability using decimal odds:
Probability % = (1 / decimal odds) * 100
Here’s this formula applied to the examples above:
- Probability for 8.54 odds: (1 / 8.54) *100 = 11.70% chance
- Probability for 2.5 odds: (1 / 2.5) *100 = 40% chance
As the name implies, American odds are popular in the United States. The odds are expressed either with a plus sign (+) for underdogs or negative sign (-) for favourites.
This might seem a bit complicated but bear with us and you’ll get the idea in no time. Here’s en example of American odds using our favourite CS:GO teams. In the scenario below, Astralis are considered favourite to win the match which means less profit but a safer bet while NAVI are considered the weaker team which means more profit but a riskier bet. Let’s assume a $10 wager is placed, here’s how you calculate the return for each type of odds:
Formula for positive odds:
Potential Profit = Stake X (Odds/100)
Formula for negative odds:
Potential Profit = Stake / (Odds/100)
That in turn will lead to :
- Astralis: – 820 odds means $11.22 returns ($1.22 profit and your original $10 stake)
- NAVI : + 234 odds means $33.40 returns (23.40 profit and your original $10 stake)
How to calculate the implied probability of an event using American Odds?
As when calculating the potential profit, there are two formulas to discover out the implied probability of an event using American odds, for both positive and negative odds:
Calculating probability for positive odds:
100 / (Positive Odds + 100) * 100 = % Probability
Calculating probability for negative odds:
Negative Odds / (Negative Odds + 100) * 100 = % Probability
Using the same scenario:
- Astralis: – 820 odds means 89.13% implied probability
- NAVI : + 234 odds means 29.94% implied probability
Comparing odds and applying this to esports betting
Now that you have the basics of how to calculate potential profits and the implied probability behind odds, the next step is to make sure you’re always choosing the right bookmakers.
Same events might have completely different odds from one online operator to another so the best place to start is our odds comparison tool. This will allow you to identify overall favourites ( teams that are considered by most as the ones most likely to win) but also where is the best place to bet on them.
Types of Esports Bets
The growth in popularity of esports betting in the past years led to an explosion in the variety of bets offered, with games such as LOL or DOTA 2 supporting dozens of bets and bet combinations.
Drawing inspiration from traditional sports, operators started offering esports punters odds on match victory, round winner, cup or tournament winner but also exclusive bets such as “First Kill”, “First Inhibitor” – in LOL Matches, “Over/ Under” or “Knife Round” – in CS:GO.
To learn more about the various types of bets available for each game type visit our dedicated game sections.
Are esports odds different from traditional sport odds?
There are no essential differences between the underlying system of odds offered on a football match and those offered on a League of Legends competition.
Moreover, esports odds drew a lot of inspiration from traditional sports betting which led to plethora of similarities between the two. Both use mainly the decimal format built around the moneyline bet with the match winner being the most common wager.
More recently, operators started adapting some of the odds usually encountered in traditional sports – such as Under / Over or Handicap bets to esports competitions thus bringing the two even closer together.
The Esports Betting Sites With the Best Odds
Now that you know everything there is to know about esports odds, a natural next step is to find out where to find them. As almost all sportsbooks today offer their players at least a few CSGO or LOL tournaments to bet on, finding the best one can be a bit tricky. Not to worry though, we’ve got you covered…
We do esports betting odds comparisons
Why compare esports betting odds?
Because that’s the easiest way to see which wager could bring you the most money.
There is no simpler way to make the most out of your bet than choosing the best possible odds for that match.
And for that reason we came up with the top esports odds comparison tool out there.
A side-by-side view of the main online bookmakers out there is the best way to figure out where your next bet on Astralis, Ninja in Pyjamas or OG should take place.
Why should you compare esports betting odds?
Forget about a welcome offers and casino bonuses! When it comes to esports betting the topmost criteria in choosing where to wager online on Counter Strike or LOL should be the odds offered. Why? Because choosing the most advantageous bet options will mean one thing: more money in your account if your bet proves successful.
Here’s an example of how much of an impact choosing the right betting odds could have on your budget. Same budget, same matches, two different operators and two (very) different potential payouts.
How to make the best esports betting choices
When it comes to online betting, WHERE to bet is of equal (and sometimes of higher) importance than WHAT to bet on. Going through the thousands of odds from the dozens of online bookmakers can be a hassle so we thought we’ll make your life a bit easier.
Our betting odds comparison tool shows comparable odds for all the major League of Legends, CS:GO and Dota 2 matches and tournaments from the top esports casinos and bookies online. All you have to do is locate the match or tournament you’re interested in wagering on and look for the best odds.
It’s important to know that online bookmakers update their odds regularly so it is not uncommon for the esports betting odds for the same match to change over time. If you’re not happy with the odds offered at a specific time, you can always come back later.
Always remember though that odds could also change in a negative way, so we would recommend, before you start comparing odds to decide what margins would be most beneficial for you.
Only choose to bet when or if the live odds for a specific team or player sit between 1.7 and 1.9. Doing this you will not only identify quickly the operators that fall within the desired margins but you reduce the amount of time you spend chasing a specific value.
Making money using our esports betting odds comparison tool
There’s two ways of placing profitable bets while using our odds comparison tool.
- Identify the overall favourites with the most advantageous odds
- Look for anomalies
Let’s go over them in more detail:
Identifying the favourites
One of the most important and beneficial characteristics of our odds tables is that it gives you the ability to quickly spot the favourite and the underdog. When you have 10 bookmakers giving a 1.10 – 1.20 odds to a team and 9.70 – 10 to the other it’s clear who’s considered favourite to win the match. Now all you have to do is see where the most advantageous odds are and place your wager. Or place multiple ones.
Look for odds anomalies
Imagine again the situation above, with a clear favourite to win the match overall. But imagine among all those similar odds, one bookmaker offers completely reversed odds. An error, do they know something that no one else knows? We can’t really tell you but what we can tell is this happens way more often that you would think. Exploiting this can mean some huge winnings on your side if you’re willing to take the risk.
The esports odds available to compare
Our comparison tool, offers (for the time being) three major game odds for you to analyze: Counter Strike Global Offensive (CS:GO), League of Legends (LOL) and Defense of The Ancients 2 (Dota 2).
From both a quality and quantitative point of view, these titles are responsible for the vast majority of professional tournaments and matches spread over the course of a year and thus, will be offered by the majority of online gambling sites and casinos. Here’s what you need to be on the lookout for:
LOL Betting Odds
League of Legends is the top MOBA title of the moment in terms of professional tournaments and matches, with several dozen regional leagues taking place at the same time around the world.
The top League of Legends leagues to look out for are LEC (European Championship), the LCS – the US Championship Series; the LCK – The Korean Champions and the LPL – the LOL Pro League in China.
These, together with other RIOT-backed leagues take place twice a year and can span for several months. All the LOL leagues offer huge prizes to the winners and finalists and thus are some of the most exciting matches to bet on as the competition is always high.
CS:GO Betting Odds
Counter Strike: Global Offensive is the top FPS title to bet on and one of the biggest games on the esports scene. The ESL Pro League and the IEM Series are among the most viewed esports events of the year, with record-breaking audiences recorded each year.
Every respectable sportsbook will offer at least one major tournament to bet on at any given time and the odds usually offer some of the best profits. If you’re into live betting, CS:GO is the game to be on the lookout for as, thanks to its fast pace and unpredictability will offer the best chances for some amazing late-game wagers.
Dota 2 Betting Odds
The successor of a title that gave birth to an entire genre, DOTA 2 is the second-largest MOBA title on the esports scene. Its DOTA 2 Pro Circuit combines Major and Minor events across the world with dozens of teams competing for hundreds of thousands of dollars in awards.
Some of the most famous team of the esport scene compete in the circuit with names such as Virtus.pro, Fnatic and Team Liquid being the most exciting to watch.
Most of the events part of the Valve supported circuit are more condensed than other esports tournaments, with most matches happening during a couple of days so if you plan on betting on DOTA 2 it’s worth checking the competitional calendar to make sure you don’t miss your favourite team event.