How To Do The Math in Esports Bettingby Oliver Brown Creative Artist
Aside from having high-power predicting skills, right amount of knowledge and a pocketful of good luck, one thing that scores a successful wager in Bitcoin esports betting is knowing how to do the math.
Whether or not you’re good at it, you’ll learn to love the art of crunching numbers that goes behind every esports bet. That is, if you’re really eager to get those profits.
And besides, it doesn’t take that much to finally learn it and work your way around it. You’ll have a deeper and clearer understanding of the odds once you know what they are, how they work, and how you can make them work in your favor. Let this esports betting guide show you how to do it.
Betting Odds Explained
Ever heard someone placing a wager on a DOTA 2 match say, “there’s a 60% chance Team Liquid will win this major”? That pretty much sums up the whole idea of esports odds. Whenever a tournament comes up, sportsbooks present numerical values that represent a team’s or an event’s chance of winning (or losing), just in a different format. The values can also indicate how much you can win off a bet, influenced by a number of factors. Those are the odds.
Now, there are two common types of odds which you’ll see in most Bitcoin esports betting sites online, which are fractional and decimal odds. Among others, these are the easiest to understand and calculate its value.
Like the term implies, fractional odds are numerical predictions of a bet’s potential outcome, expressed in fractions. It’s one of the most common odds used by many countries, particularly in the UK. Let’s say, if you see odds that display a team with a 4/1 chance of winning, it simply means that they have a 20% chance of winning the match.
Getting the percentage value of a fractional odd is fairly easy. Let’s have an example. Given that number above, calculating your fractional odds should look like this:
4/1 = 1/(4+1) = 0.20 (20%)
11/5 = 5/(11+5) = 0.3125 (31.25%)
Decimal Odds are the most frequently used odds format by most bookies because it’s simple and easy to understand. You can predict the probability of a bet just by dividing 100 by the given decimal odds. For example:
5.0 = 100/5 = 20%
2.0 = 100/2 = 50%
From that, you can say that this bet has a 20% chance of winning, and the other has a higher chance which is 50%.
You see, learning your way around the odds is definitely within your reach. It can be intimidating at first, but don’t let the numbers get the best of you. And there are other methods you can use other than the ones mentioned in this esports betting guide. You can use them to your advantage to help you enhance your betting decisions.
Created on Nov 21st 2019 21:11. Viewed 158 times.