If you’re diving into wagering on esports like Dota 2 and Counter-Strike, then it pays to understand esports betting odds, what they’re used for, and how they work. Reading the odds is the first step to making sound esports wagers.
Betting odds can seem intimidating at first glance, but they’re pretty simple to understand once you know what they mean and how to read them – don’t worry, we show you how here. We also break down the different esports odds formats you can find, and look at how the odds can help you decide on which esports bets to place.
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Esports betting odds – what they are and what they tell us
One of the most important parts of esports betting 101 is understanding what odds are. Esports betting odds have two functions:
- They tell us the mathematical likelihood (probability) of an outcome in an esports match
- How much your potential payout will be if you bet on that outcome
Esports betting sites will give you a selection of different outcomes or markets to bet on for a single esports match, for instance, who will win the match. Next to each market, you are given the odds for each participating team. These odds tell you which team the bookmaker predicts will secure the win.
The odds are based on a number of factors, such as team stats, how they fared against their opponent previously, whether any players are sitting out, or if a new team member is participating. Most betting sites will display very similar odds for the same markets because they all use the same data to determine their odds.
As a rule of thumb, the team with the odds in their favor is known as the favorite, and they offer a much smaller payout, compared to the underdogs. Since the underdog is less likely to win, if they do, they give a much bigger payout.
Using odds to spot value
Besides using odds to see what your potential payouts will be or which wager is more likely to be successful, you can also use them to spot value. For example, if a player pulls out of a team just before a match and you know that team now has no chance of winning, but their odds still show them as the favorite, you can bet on the underdog to win, and get better odds and a higher payout.
In reality, however, sportsbooks are not in the business of losing money, so clear value opportunities are quite rare. In 99% of cases, if the odds seem too good to be true, it's probably because the bookmaker knows something that you don't. So make sure you're only ever betting with money you can afford to lose, and don't go over budget just because you think you found value.
Esports betting odds explained
The esports betting odds you see online can vary depending on where in the world you’re accessing them from. In the UK, odds are often shown as fractions, while the rest of Europe often uses decimal odds. The US uses a different system called American odds. Ultimately, no matter how they’re displayed, they represent the same underlying price.
The best esports betting sites allow you to set the format the odds are displayed in, so you can read them more easily. Here is a look at how the different formats work. We’ll use USD as an example when showcasing values here, though the same logic will apply to whatever currency you’re using.
Fractional odds
This odds format is more popular in the UK and at Irish betting sites. These odds are written as a fraction, using a slash (/) and look something like this:
To win their Counter-Strike match in the Esports World Cup:
| Team | Odds to win |
| Wildcard Gaming | 3/1 |
| Furia | 1/5 |
These odds show you how much you can win in relation to how much you stake when betting on each team. The first number (numerator) tells you how much you’ll win if you place a bet the value of the second number (denominator). If you bet on Wildcard Gaming to win, for every $1 you bet, you would win back $3. For example, a $10 bet on Wildcard Gaming would give you $30 if the team won the match. A bet of $5 on Furia would only give you $1 in winnings.
Since you have to bet more to get even a little bit back on Furia, we can tell that this team is the favorite to win.
Decimal odds
Decimal odds are usually the default format in Europe. They would look like this:
To win their Counter-Strike match in the Esports World Cup:
| Team | Odds to win |
| Wildcard Gaming | 4.00 |
| Furia | 1.20 |
Decimal odds show you how much you’ll receive as a payout for every 1 unit you stake. Here total payout (original stake + winnings) = decimal odds x stake. For example, if you bet $10 on Wildcard Gaming at odds of 4.00, you’d get $40 as a payout ($10 original stake + $30 winning)
American odds
American odds are displayed as a three-digit number with either a plus (+) sign or a minus (–) sign before it. Usually, the plus sign indicates the team that is the underdog (least likely to win) while the minus sign shows which team is the favorite to win. They would look like this:
To win their Counter-Strike match in the Esports World Cup:
| Team | Odds to win |
| Wildcard Gaming | +300 |
| Furia | –500 |
If you were to bet $100 on Wildcard Gaming and they won, you’d get $300 back. But to win back $100 on Furia, you’d need to wager $500 and have them win.
Probability and esports betting odds
While esports betting odds largely tell you how much you’ll get as a payout, you can also use them to see the implied probability of an outcome. This is great if you’re new to esports betting and aren’t sure which team or outcome to bet on.
Implied probability tells us how likely one outcome is to be successful compared to another. For example, if you’re visiting Dota 2 betting platforms to bet on The International, you may see odds like this:
To win their DOTA 2 match in The International:
| Team | Odds to win (Fractional) | Odds to win (Decimal) | Odds to win (American) |
|---|---|---|---|
| BetBoom Team | 11/50 | 1.22 | –455 |
| OG | 14/5 | 3.80 | +280 |
No matter which of these odds formats you use, it becomes easy to see the implied probability, as usually the team/market with the higher odds is less likely to win. If we look at our example above, Team OG, which has the higher odds, is the underdog and less likely to win.
While you can always use the odds to calculate the implied probability, here are a few guidelines that can help you make estimates on the fly:
| Odds to win (Fractional) | Odds to win (Decimal) | Odds to win (American) | Implied Probability |
|---|---|---|---|
| 2/1 | 3.00 | +200 | 33.3% |
| 1/1 | 2.00 | +100 | 50% |
| 4/6 | 1.67 | –150 | 60% |
Tips for using esports betting odds
If you’re new to esports betting, here are some of our top tips for using odds on esports betting markets and matches.
- Claim promos to practice using odds – Practicing reading odds and testing them out is one of the best ways to get into the swing of esports betting. One of the best ways to do this is by claiming an esports betting bonus that lets you try things out without risking too much of your deposited funds.
- Find the format that works best for you – Take a look at all formats and pick the one you find easiest to work with. All the best esports betting sites offer odds formats such as decimal, fractional, American, and a few others.
- Look for the best odds across several esports betting sites – It can sometimes be helpful to compare the odds on a specific market across several betting sites. Sometimes, you’ll find slightly better odds at one site, leading to slightly better payouts.
The pros and cons of using esports betting odds
While it can take some time to learn how esports betting odds work, they can be really beneficial when it comes to actually placing your bets:
- Quickly identify the likely winner
- Calculate your potential payouts
- Choose the format that suits you
- They can take some time to learn
Conclusion – Understanding esports odds makes it easier to place informed bets
Esports betting odds are important to understand. They help you to determine potential payouts on your bets, identify which outcome is more likely to be successful, and more. If you want to put your knowledge of esports betting odds to the test, use any of the on-page banners to launch the betting site of your choosing.
FAQs about esports betting odds
What formats do esports odds come in?
You can choose from several odds formats, including decimal, fractional, and American odds.
Do the odds tell me how much I will win on a bet?
Yes, you can use fixed odds to work out your potential payout on a successful bet.
Are the odds for an esports team always the same?
No, the odds change depending on who the team is playing, their recent stats, and what market you’re betting on.
