First things first, what is esports betting? Well, esports is any type of video gaming competition played between teams or individuals. The main difference with traditional video gaming is that players compete against themselves in esports instead of the computer system. So, basically, there’s no meaningful difference between esports betting and traditional betting. Just that this time, staking is on virtual competitions like car racing, horse racing, football, PUBG, etc.
Interestingly, esports gambling traces its roots back to the 40s when the first video game saw the light. Later in the 50s, Tennis for Two was introduced as the first competitive virtual gameplay.
After that, things continued to explode for esports, with excellent players getting recognized in the 80s. More esports competitions were introduced following the rise of internet technology and PC gaming in the 90s, thanks to games like Doom, StarCraft, Tetris, etc. Today, esports is a mainstay in the gambling industry.
How to bet on esports
As said, betting on esports is pretty similar to traditional betting. However, the betting markets can differ a little bit. For example, players can stake on the team or individual who makes the first kill in games like League of Legends, PUBG, or Counter Strike. Another common esports betting market is the map winner, where players stake on a team or individual who wins a particular map.
As for the betting odds, everything remains unchanged with esports. Bookies know that esports attract international audiences. As such, they use the American, Decimal, and Fractional odds. So, depending on where you’re betting from, learn how to read the odds first. Fortunately, that’s what you’ll be learning next.
How to read esports betting odds
Esports betting odds reflect the probability of a match outcome and what the bettor stands to win on each market. Like in traditional betting, lower odds in esports represent the match favorites, with the team with longer odds being the underdog. Note, however, that the odds can be deceiving.
So, assuming two esports teams have +200 and -200 Moneyline odds, respectively. In that case, it means bettors can win $200 if they bet $100 for the underdog (+200 odds). This makes the total win to be $300 plus the initial stake. On the other hand, players can win $100 if they stake $200 on the hot favorite (-200 odds). So, again, the total profit, if the favored team wins, is $300.
Meanwhile, Decimal odds are prevalent in Europe, Asia, and Africa. In fact, this is the easiest odds to read in the gambling world. Here, just multiply the odds by the stake to determine the potential win. So, suppose a bettor is backing a team with 4.2 odds and stakes $100, it means the possible win amount is $420.
Lastly, bettors in the UK and Ireland are pretty familiar with Fractional odds. Like Decimal odds, these odds are simple to comprehend. For instance, when backing a team with 5/1 odds and you stake $100, the potential return is $500 (5x$100/). Just multiply the top digit by the stake and then divide the outcome by the lower number.