When looking to read betting odds, you should be familiar with the term “eSports odds” if you’ve ever gambled on games professionally. This term predicts how much you’ll win on a game and the probability of different outcomes. It is unlikely that you will make a career out of eSports betting if you don’t understand the science behind the odds and can’t translate the odds into money and success.
The time when one bookmaker could control the betting odds on a particular game is long gone. Today, there are hundreds of eSports betting odds available at different bookmakers. Such widespread availability is impressive, but it has also led to new forms of betting odds.
This guide will cover the different betting odds available around the world. We’ll also explain these odds in the simplest way possible. Therefore, note that two factors affect the amount of money you can win: the amount you wager and the odds you choose to bet. If you win, your will multiply your initial deposit by the odds and win back the increased amount. Regardless, the process is a bit more complicated than it was ten years ago, so let’s dig in.
How To Read Betting Odds: Learning The Fundamentals
Before we can understand the complicated genre of betting odds, it is essential first to understand the types of betting odds available in the gambling community. There are three types of betting odds: decimal, fractional, and American. Yes, there is a betting odds criterion for the United States of America.
When it comes to how to read betting odds, decimal odds are the most common and straightforward to understand. For example, if there are 1.060:2.099 betting odds for a match between team A and B, the expected outcome is that team A will win. The odds of winning are usually lower for the team with the highest chance. Your final payout will depend on how much you bet and the odds.
These kinds of betting odds often come with money-line wagering schemes and offer. Let’s suppose you placed $99 on Team B, and they win. Your final payout will equal 99×2.099. In dollars, the amount will equal $207.88.
Consequently, decimal odds are the most straightforward format to calculate and are famous in the current gambling market. You can find betting odds on all eSports betting sites in decimal formats.
This method is not a completely different way to read betting odds despite popular belief. Decimal odds are also compatible with percentage odds. Your final payout will equal the sum of your initial wager money and the percentage offered if you win.
Let’s assume you’re betting on team X or Y and that the odds are 25% or 75%. If you wagered $100 on team X and it wins, your payout will be $100 plus 25% of $100. Therefore, the system is the same as the decimal format. The difference is that the odds of winning are in percentages instead of using the decimal format.
These types of odds are popular in the United Kingdom. Sometimes you’ll encounter them under different names, such as British odds, traditional odds, or UK odds, but they all mean the same thing. Additionally, the fractional format is trendy among beginners first looking to learn how to read betting odds. Here’s why.
Let’s suppose that a website offers fractional odds to play eSports games. The odds of team X beating team Y are either 5/1 or 5-1. You placed $20 on Team X, and it won. Your total payout will then be 20 x 5, which equals $100.
Conversely, let’s imagine you chose team Y, and it lost. This team’s odds of winning are 1 to 5. If they had 1/5 odds, their odds would be 1 to 5. If you bet $5 on Team Y, you’d get an additional $1 for your wager, and your final payout would amount to $6.
Herein is the answer to why fractional odds are so popular: everyone’s a winner. Even if you lose your bet, you don’t have to lose all your money. You still receive what the odds promised, even if your team loses. The conclusion is that you still receive payment even though you lose a fractional odds bet strategy.
American Betting Odds
As you can see from its name, this method of betting odds is much more prevalent in America than elsewhere. When looking at how to read betting odds, you’ll benefit the most from this format if you’re wagering on American sports.
These odds are slightly different from the rest. American odds don’t rely on fractions or decimals but numbers and signs. Imagine a CS:GO match going on, and your bookmaker offers you +500 or -250 American odds for teams A and B, respectively.
Positive Number Betting Odds
If your odds of winning are positive, you will get 500 dollars for every $100 you wager. If your team wins, you’ll receive $1,000 if you have placed $200. In other words, the $200 initial bet will result in a total payout of $1,000. To calculate your total payout using a positive number, the formula is stake + (odds) x (stake/100). The stake is how much money you wager.
Negative Number Betting Odds
The situation is trickier when looking at how to read betting odds in a negative format. If you are looking to bet on a team with negative betting odds, it is critical to know that the odds shown in negative numbers represent the amount you must bet to win $100. So, let’s assume that the team has -250 winning chances. Therefore, to win $100, you must bet $250.
If you had bet $500 and the team won, you would have won $200. The total payout would then be $500 plus $200. The formula is stake + (100/Odds) x stake to calculate the total payout for a negative number. The stake is the amount that you have deposited for your initial bet.
You have access to thousands upon thousands of online betting odds converters. You can go to any betting site, select decimal, fractional, or American odds, and place an imaginary wager with stakes. The betting odds calculator will calculate the final payout.
Be familiar with the basic betting odds in the gambling industry before you dive into Esports betting. We’ve done our best in the previously mentioned to teach you the basics of all types of betting odds.
Knowing how to read betting odds will help you understand the gambling industry more deeply. Based on the odds, you will predict the outcome of a particular game. When looking to know more about this topic, we recommend that you spend time online learning as much as possible about the betting odds before relying on them. Good luck!
Lisa has a Bachelor’s of Science in Communication Arts. She is an experienced blogger who enjoys researching interesting facts, ideas, products, and other compelling concepts. In addition to writing, she likes photography and Photoshop.