Esports Betting Odds: Your Complete Guide

How to Read Esports Odds and Calculate Winnings

Odds are a way to communicate probability. And just like there are various languages around the world, multiple methods of displaying betting odds have also evolved.

Let’s take a look at the many different odds formats across the globe.

Decimal Odds

Perhaps the easiest of all formats to understand, decimal odds originate from Europe. Betting exchanges lay out their odds this way due to their simplicity and almost all major international bookmakers offer this option.

Decimals allow for more nuance than older systems like fractions, which is another reason for their popularity. But how do they work? Simply multiply your stake by the odds value to calculate your total returns.

Example: €10 @ 3.50 = €35 returns (€25 profit)

Fractional Odds

You don’t see fractional odds as often as in the past. They’re still popular among a certain generation of older horse racing fans in the UK, where this odds format originated. But younger bettors, who are more familiar with exchanges and international betting sites, are gradually taking to decimals.

Fractions work by telling you what your profit would be if you placed a specific stake. The upper value represents the profit, while the bottom number is the wager. So, 6/4 means a profit of £6 would result from a bet of £4 (£10 total return) for instance.

Example: £20 @ 11/2 = £130 returns (£110 profit)

American Odds

You may also see this format referred to as moneyline odds or Vegas odds. But whatever you call them, as the name implies, they are normally seen in the USA. Where the odds have a positive (+) value, the number represents your profit if you were to bet exactly $100. So, +120 means a $120 profit on a $100 bet. That’s a total return of $220.

However, things change when there is a heavy favourite. These odds have a negative (-) value, and it now means you need to stake that amount in order to win $100. So, with odds of -200 you must bet $200 to make a $100 profit, a total return of $300.

Example: $5 @ +300 = $20 returns ($15 profit)

Asian Odds

There are several different types of Asian odds, which are broadly similar to the three more common odds formats mentioned already. Let’s quickly run through them now.

Malay Odds: These function in a similar way to US odds, but they are flipped the opposite way around. A positive value represents the profit made when staking a single unit. While a negative value illustrates what you must bet in order to win a single unit.

Indonesian Odds: This style is almost identical to American odds, but they are divided by 100. So if the US odds were +400, the Indo equivalent would be written as 4.0000.

Hong Kong Odds: Essentially, HK odds are just the end result of fractional odds. If you took 7/4 for instance, and actually performed that sum (7 divided by 4), you’d get the HK odds. They illustrate the profit a winning bet would deliver from a 1-unit stake.

You can see more detailed examples of how Asian odds work in the comparison table below.

Esports Odds Comparison Examples

How Esports Odds Are Made

Creating odds is a complex process. Statistical models are used that take all kinds of factors into consideration. Recent results, fitness of key team members and various metrics are fed in and the probabilities of the various outcomes are spat out.

This is enough to create a betting market, at which point the personal opinions of the odds compiler come in to tweak things. These people are experts in their field, whether that is horse racing, politics, entertainment or esports betting.

Finally, once a market goes live, bettors come into play. If the market believes the odds are wrong, naturally they will pile onto the side which is deemed to be overpriced. The weight of money will force a bookmaker to adjust their prices accordingly.

Converting True Probabilities to Betting Odds

Once the compiler understands the probability of an outcome taking place, it’s really easy to convert it to an odds format. If we use the simple example of a coin toss, we already know the probability of either side landing is 0.5 (50%).

To convert that to decimal odds we use the following formula:

1 divided by Probability = Decimal odds

So that’s: 1 / 0.5 = 2.00

Converting Betting Odds to Probability

If you already have the odds, you can work out the implied probability by flipping the calculation around. The formula to convert decimal odds into probability is:

1 / decimal odds = Probability

So if we run with the same coin flip example: 1 / 2.00 = 0.5

True Odds vs Bookmakers Odds

One thing the simple examples above did not take into account is the bookmaker’s profit margin. Sometimes referred to as “vigorish” (vig) in the USA, this mathematical edge is what ensures that the house wins in the long run. After all, they are businesses, not charities.

If you take a fair betting market and convert all of the odds to probabilities, you’d expect that adding them all together would come to 1 or 100%. But in reality, it never does. It’s always “overround”, meaning that the percentage is greater than 100%.

That’s because the bookmaker has manipulated the odds to pay slightly less than the true probability. It’s simply their way of making a profit.

Sure Bets

However, there is one way to beat the bookmakers when it comes to esports odds. These instances don’t come around often but when they do, they guarantee that you make money. We’re not exaggerating here and there are no sneaky tricks. Sure bets can and do happen.

As we mentioned earlier, odds compilers do rely, at least in part, on personal opinions. That’s why bookmakers offer similar, but not always identical odds. And when bookmakers differ in their views, arbitrage situations can occur. Allow us to explain.

Arbitrage Example

Let’s take the following hypothetical esports matchup:

As you can see, Betway’s odds team feels that the match is impossible to call. They’ve priced it in a way that the bettor is invited to take their pick; it’s essentially a coin flip. As we’ve explained though, the odds will not be 2.00 because of the house edge.

The Bet365 team feels that Bad New Eagles are actually marginal favourites to win and their odds reflect that. However, the GG.Bet compilers think that Imperial Sports should be favourites. The odds are broadly similar, but not the same. So here we have an opportunity to exploit these differences.

Sure Bet Calculations

Let’s say we bet the following:

€51.22 at 2.00 on Imperial Esports (Bet365)

€48.78 at 2.10 on Bad News Eagles (GG.Bet)

We have covered both sides of the market. One bet is going to win and one bet is going to lose. But as you can see, we will make a profit of €2.44 no matter what happens!

Esports Odds – Final Word

Thanks for reading our complete guide to understand esports betting odds. We hope that you’ve learned a lot and that you’ll be able to put this newly acquired knowledge to good use.

If you’re ready to start betting, why not check out one of our recommended bookmakers? You’ll find plenty of generous welcome bonuses waiting for you. Good luck!