The Ultimate Guide To eSports Odds and Everything You Need To Know About Them
June 03, 2020
So you decided to get into eSports betting and you're trying to make some extra cash from it. Well, before placing a bet on eSports, you'll need to know what odds are. This is a guide for anyone who wants to start betting on eSports, but doesn't know what odds are.
Firstly, what are odds?
Odds are expressed in a pair of numbers, they are used in gambling. Let's say there are 2 equal teams playing a match. If they are equal then the odds would be 1:1 or 50/50, meaning that both teams have the same chances to win. Of course, it's rare to see that both teams have the same betting odds since most matches have a favorite and an underdog.
Why are Odds important in eSports?
In eSports the odds are changing at a very fast rate. In CS:GO the round last on average 2 minutes and in this short period of time the odds for a live match can change up to 10 times. So you need to know if the bet you are placing is in your favor or not. Every little variable changes the outcome of the round and match.
Know the Probability, know the odds.
Before placing a bet, you will need to know the probability of a certain number of outcomes. If you throw a coin and it lands on heads 2 times in a row, then it has more chances to land on tails for the third time. So if you bet on tails, the odds are in your favor. If there's a CS:GO match and 2 teams are playing and their odds are 1.1 and 5.9(decimal odds) then the probabilities to win are 10% and 90%.
Calculate your winning with Decimal Odds
Here at FOREST.BET we use decimal odds and it's really easy to calculate your potential winnings. Just multiple the stake with the odds and minus the stake. 10 Euro stake on 3.5 odds =35 Eur - the initial stake of 10 Euro = 25 Eur in profit. We use decimal odds just because it's a lot more clear that Fractional or American Odds.
Odds represent the probability of an event to happen and they help you to calculate how much money you'll win if your bet goes well. Remember to bet on teams that you think will win.