Esports betting refers to the betting on many online games and sports tournaments and leagues taking place across the entire world. Regardless of the type of sport, betting represents the probability of a certain event taking place. In this case, it is the winning of a team or a player. Esports is a platform where bets are placed against their favourite teams with the probability of winning. Since the event takes place online with access to anyone, there can be a slight difference in the strategies and the way the bets are placed. Depending on the type of bet you’re playing in your team, there are various terms used like Moneyline bet, Head-to-head, straight and many more.
Before you place bet on any team, there are three crucial factors to bear in mind:Odds: The amount paid out by the sportsbook, along with a required stake
Format: Choosing how you want to place the bet- American, Decimal or the Fraction wayBankroll: The money you want to start your chance with.
For instance, you wish to bet on a team at odds of 2.50, opposing to the odds of 1.60 to the other team and you’ve chosen the decimal way of betting. After the two considerations, you have to decide on an amount to bet, say $100 (maximum amount). Once you’re ready with all the starts, the bookie calculates the odds and places a wager on your betting.
Expected return = State money X odds for the day
Expected return =$100 X 2.50 =250
Hence if the team wins, then we win $250, which is a profit of $150. This is how the stakes and benefits are calculated in most cases. If the odds are lower, then your chances of winning are higher. They’re inversely proportional.
There are different types of markets in Esports betting. They are:
Moneyline: it is the most traditional form of betting, where you decide which team you want to bet on and wager your money on that.
Handicap: It is a more conventional form of sports betting. If you bet on the positive handicap to win, then the team must love, win or tie to a number lesser than the handicap number.
Totals: A bookmaker specifies the exact number of event that will take place in a game, and a bet is placed on a specified number. What the total number indicates, is based on the game that is being played. For example, in Dota 2, it means several kills.
Outright betting: It merely refers to the betting on the entire match’s outcome.
It is imperative to remember that sports betting or esports betting is a talent that is led by patience. If you feel the need to wait before a match, they do wait and bet on the ones that are worth losing money for (worst case scenario). Moneylines are the best to place bets on, as they will never limit your account, no matter how much you’re winning.