If you have ever gambled professionally, then you must be aware of the term “ esports Odds”. This term dictates how much you will win, and it also predicts the expected probability of the different outcomes of a match. If you do not understand the science behind the odds, and how to convert the offered odds into terms of money and outcome success, then it is highly unlikely that you will have a successful Esports betting career.
The time is gone when only one bookmaker had the ability to monopolize the betting odds for a game. In the modern era, hundreds of bookmakers offer different esports odds. Now, this is amazing in itself, but this just ended up inventing new formats of betting odds.
In this guide we will explore different methods of betting odds across the globe, and the betting odds will be explained in the simplest manner. The amount of money you can win depends upon two factors; the money you bet, and the betting odds offered. In simple terms, if you win, then your initial betting deposit will be multiplied by the odds and returned to you. This has gotten a little complex in the last decade.
Before we even begin to understand the complex genre of betting odds, we need to understand how many types of betting odds are there in the gambling community right now.
Betting odds come in three basic formats; Decimal, Fractional, and American. Yes, the United States of America has its own betting odds criterion.
Decimal Odds
These are the most popular and easily understandable odds. If team A and team B are playing in a head-to-head match, and the betting odds offered 1.060:2.099 respectively, then the predicted outcome suggests that team A will win. The team with the highest probability to win usually has the lowest odds offered. If you win, then your final payout will be a product of your initial bet money and the odds.
Latest CSGO odds for ESL Pro League from Betway Esports
These type of betting odds are usually associated with the money line betting schemes and offers. Let’s say that you bet $99 USD on team B, and they won. Your final payout will be 99 * 2.099, and in terms of dollars, it will be $207.88 dollars.
Betting Odds Explainedwill let you know that the decimal format of odds are the easiest to calculate, and are the most preferred odds in the gambling market right now. All the online Esports betting websites offer betting odds in decimal formats.
Percentage Odds
This is not an entirely different method of betting odds. Percentage odds format is also similar to Decimal odds. If you win, then your final payout will be a sum of your initial bet money, and the offered percentage. Let’s say that you are betting on team X and team Y, and the offered odds were 25% and 75%. If you had bet $100 USD on team X, and it wins, then your total payout will be $100 + (25% of $100). It is just the same as Decimal format. Instead of the decimal format, the odds are presented in terms of percentage.
Fractional Format
These kind of odds are quite popular in the United Kingdom. These odds can also be referred to as traditional odds, UK odds or British odds.
(Latest CSGO fractional odds from Betway Esports
Let’s say that a website is offered fractional odds for Esports games. The odds for team X and team Y’s match are 5/1 or 5 to 1. You bet $20 USD on team X, and luckily it won. So, your total payout will be 20 * 5 = $100 USD.
On the other hand, if you had picked team Y, and it lost. If their betting odds were 1/5, then their odds will be referred to as 1 to 5. If you had bet $5 on team B, then you will get an additional 1 dollar for your bet, and your final payout will be $6 dollars.
The reason behind the vast popularity of such kind of odds is that everyone is a winner. You don’t lose all your money if you do lose the bet. Even if your team loses, you will still get what the odds promised. In other forms of betting odds, you only get paid if your team wins. In case of fractional odds betting strategies, you still get paid even if you lost the bet.
(Latest CSGO fractional odds from Betway Esports)
American Betting Odds
As obvious from the name, this method of betting odds is more popular in the United States of America than the rest of the world.
American odds for CSGO from Betway Esports
These odds are a little different than the rest of the methods. Instead of decimals or fractions, American odds have a number and a sign. Let’s say there is a CSGO game going on, and your bookmaker has offered you +500 and -250 American odds on team A and team B respectively.
Positive number betting odds
If the odds for your team are a positive number, then this means that for every $100 dollars you bet, you will receive 500 dollars if your team wins. So if you bet $200, you will receive $1000 in case your team wins. Your total payout will be the original $200 dollars and the won $1000 dollars. The formula to calculate your total payout with a positive number is: stake + (odds * (stake/100)). The stake is the money you bet.
Negative number betting odds
In case you want to bet on a team with negative number betting odds, you should know that the amount shown as odds is the one you have to bet as stakes in order to win $100. As mentioned above, let’s say the team has -250 winning odds. You have to bet $250 USD in order to win $100 in case of their victory. Let’s assume you bet $500 dollars, and the team won, then you would have won $200. Your total payout would be $500 + $200. The formula to calculate total payout with a negative number is: stake + ((100/Odds) x stake). The stake is the amount you deposited as the initial bet amount.
(American odds for CSGO from Betway Esports)
Important Factors to Understand Esports Odds?
There are hundreds and thousands of online betting odds calculators available at your disposal. Go to a betting website, choose decimal, fractional or American odds, place an imaginary bet with stakes, then use the betting odds calculator to figure out the final payout.
Before delving into the world of Esports betting, you should be well aware of the traditional betting odds formats in the gambling industry. Esports Betting odds explainedin our Academy will equip you with the basics of all the different types of betting odds.
Some websites like Pinnacle and Betway Esports will also let you calculate the payout and winning amount right on their website. Just go to Betway Esports, sign up, choose a game, then click on the odds offered, and a calculator will pop open where you can calculate your total payout based on different stake moneys.
Understanding betting odds will also allow you to understand the entire gambling industry in a better way. You will be able to predict the future outcome of a game based on the odds offered. So, we suggest you spend some time online and learn everything you can about the betting odds before relying on them.
