It’s no secret that most bettors suffer losses in long-term because they rely on their gut feeling or pure luck. That’s why it’s important to educate yourself before you start betting. On this page we will tell you different sports betting tips and strategies to help you to increase your profits and make sure you are making money, not losing it.
eSports Betting Tips
1. Set a budget
When betting on eSports matches, one of the most important things to do is a bankroll management. Your bet sizes should depend on the budget you have. It is crucial not to wager more than you can afford to lose.
2. Bet on games you know
To make the best profit, it’s important to know what you are betting on. To make the best decision, you should consider team and player statistics and other news before making a bet. This decision is easier to make if you are familiar with the teams you are betting on.
3. Control your emotions
Controlling your emotions is vital in the betting process. You could win or lose 10 bets in a row, and you need to still stay composed. If you lose control, you can lose all your winnings in a single hot-headed bet. Overconfidence or anger can cause huge losses!
4. Choose the best odds
The eSports betting odds can vary greatly between multiple betting sites. If you have decided to bet on a match, make sure you make a bet where it has the best odds to increase your winnings. You can read about the best eSports betting sites here.
5. Watch the matches live
The eSports betting system is dynamic, and you can bet on the games live as they are being played. This allows you to use various betting tactics and do some damage control in case the unexpected happens. Some betting sites offer you to cancel the initial bet without losing it all and then placing it on the opposite outcome if it still has good enough odds.
6. Choose carefully
If you are willing to make a profit in the long-term, it’s important to choose the matches you bet on carefully. You must remember that no team or player is guaranteed to win 100% of the time and big upsets can happen.
Analyze both of the teams playing and their recent results. Knowing about their match history and other events can give you an edge over other bettors. Therefore, make sure you read about Expected Value below.
Expected Value (EV) Explained
The expected value (EV) is an anticipated value for a given event. It is calculated by multiplying each of the possible outcomes by the likelihood each outcome will occur and summing all of those values. By calculating expected values, investors can choose the scenario which is the most likely to give them the most profitable outcome.
To explain what it means in simple terms, we could use a simple coin flipping as an example. The coin has the same probability to land on either heads or tails. Let’s say I’m betting $1 on each flip and if I guess the outcome, I double my money. In long-term, I would break even, because, for every dollar bet, I’ll get the same amount back. In this case, it would be a neutral expected value:
(1/2 * $2) + (1/2 * $0) = $1
However, if in case of winning, I’d get $1.90, instead of $2, this bet would not be profitable for me, because for every dollar spent, I’d earn only $0.95 back. This is called a negative expected value (-EV).
(1/2 * $1.90) + (1/2 * $0) = $0.95
If a bet is profitable, it has a positive expected value (+EV).
It can be slightly time-consuming or confusing at first to look for bets with a positive expected value, which is why most bettors don’t do it. However, if you are willing to make a profit in long-term, it is a must.
If you want to further increase your eSports betting knowledge, here are a few great books we suggest checking out:
- Sharper: A Guide to Modern Sports Betting by True Pokerjoe
- Good Teams Win, Great Teams Cover: An Underdog’s Tale of Life, Gambling and Sharp Sports Betting by Pat Hagerty
- Scorecasting: The Hidden Influences Behind How Sports Are Played and Games Are Won by Tobias J. Moskowitz & L. Jon Wertheim
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