If you’re new to eSports betting, one of the first things you should do is learn about betting odds. It’s extremely important because it allows you to understand how likely an event is to happen, and what your winnings might be. The betting odds might be confusing at first, however, read our article to learn everything you need!
What is Probability?
Probability is a chance that a certain event will happen. Betting sites use probability to set the betting odds, and if you choose the outcome correctly, you will win money based on those odds. The odds might be displayed in different formats. Here are the most popular betting odd formats explained.
Fractional Betting Odds
Fractional odds are displayed by using two numbers separated by a trailing slash (i.e. 4/1). For ease of explanation, let’s replace the numbers with letters i.e. 4/1 becomes A/B. Here is the calculation:
Probability (%) = B/(A+B).
In 4/1 case, 1/(1+4) = 0.2 = 20%
When using fractional betting odds, it is easy to see what your winnings will be when placing a bet. For every value of B that you bet, you will win A, plus the return of your stake.
If the odds are 4/1, you will win €4 for every €1 you bet.
Decimal Betting Odds
Decimal betting odds are far more common on betting sites. They are predominantly used in Europe, Australia, and Canada, and all leading betting sites give you the option to view betting odds in this format. An example would be 5.0. They are quite easy to work out. Here is how.
In 5.0 case, Probability (%) = 1 / 5.0 = 0.2 = 20%
To calculate winnings for your bets, you can use this formula.
Winnings = (Odds * Stake) – Stake
American Betting Odds
American betting odds are also very common on betting sites. They are indicating return relative to 100 unit base figure. Whenever there is a minus (-150), you lay that amount to win a hundred dollars, where there is a plus (+150), you win that amount for every hundred dollars you bet. Here are the formulas you need to calculate profits, using American odds:
For Positive American Odds: Profit = Odds x (Stake/100)
For Negative American odds: Profit = (100/Odds) x Stake
Keep in mind that in the formulas you need to use the American odds without the negative sign.
Different eSports betting sites offer you to switch between the formats, so you can choose the one you find the easiest one to understand. Head on to our betting site reviews to find the best site for you!
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