Understanding Odds in eSports Betting in Canada
Over the past few years, eSports betting in Canada has increased to such a point that top bookmakers are creating dedicated platforms for the genre. There is little doubt that competitive video gaming is an excellent source of betting opportunities with major leagues and tournaments happening throughout the year. For those just starting out though, the first step is understanding the odds or the prices, so we’ve explained what they are, and what they entail.
What are Odds?
The good news is the eSports odds are no different those used in other forms of sports betting like Football, Ice Hockey, Baseball or Basketball. They can be defined as a numerical value for the likelihood of an event taking place. They also give you an idea of how much you stand to win on the wager. The most important thing to remember is that higher mean a larger payout (win more) and lower mean a lower payout (win less).
The prices posted on eSports betting sites are carefully calculated by industry experts and should accurately reflect the likelihood of a particular team winning a game or tournament. For example, if a team is particularly strong and facing a lower-ranked opponent, they would be given low odds as the likelihood of them winning is quite high. The underdogs would be given higher ones.
In eSports betting in Canada, they can be expressed in decimal format such as 2.30, fractional format like 5/1 (five to one) or American format such as +120. While the majority of sites have conversion facilities, it is a good idea to know all 3 formats and know how to work out your expected payouts for a prospective wager.
American odds are not often used with eSports Canada sites, but are handy to know if you want to bet on American Football, Baseball or Basketball. Also known as money line, they can be confusing at first. These can either bet expressed with a positive sign like +120 or a negative sign such as -150. With negative numbers, this is the amount you have to stake to win $100, with positive numbers, this is the amount you stand to win on a $100 bet.
Fractional’s are common with eSports betting and are expressed as a fraction such as 4/1 (four to one) or 5/2 (five to two). To calculate how much you are going to win, all you need to do is take the first number, divide it by the second number and multiply by your stake. For example, if you bet $50 on with odds of 5:1, then the calculation is as follows. 5 divided by 1 equals 5, multiplied by $50 gives you a total payout amount of $250.
Decimals are a lot easier to understand and thankfully, the standard with eSports betting in Canada. These are expressed as a number with a decimal such as 1.25, 5.60 or 12.00. From the start we can see they are easier to work with as the higher the number, the more you stand to win. If you to calculate your total payout amount, simply multiply the number by your stake. For example, if you stake $50 with eSports odds of 12.50, then you simply multiple $50 by 12.50 to get a total payout of $625.
As with all forms of wagering, the idea is to try and find value odds. This is where a bookmaker has posted prices for an event or market that does not add up to what you think will happen. If the amount posted is particularly high and you think the team has a good shot of winning, the value is there. You then have the opportunity to place a reasonably safe wager with a potentially large payout.