Released by Riot Games in 2009, League of Legends is one of the most popular video games in the world and easily one of the biggest games in the esports scene. But not only is it extremely popular among the players, but LoL is also a huge name in the betting scene.
However, while it’s straightforward to get into betting on LoL, you have to know a thing or two about how to bet on League of Legends before you place your first bet. In this League of Legends betting guide, we will explain the essential things you should know about how League of Legends betting works and how to do it, getting you ready for what could be a highly lucrative esports betting journey.
How To Bet On LoL
Betting on LoL works the same way as betting on any other esports title or any traditional sport. Admittedly, there are some differences, mainly in the offered bet types, but the principles remain the same. So if you have a basic understanding of how sports betting works, you should have no problems learning how to bet on Leaguer of Legends.
Still, you need to get familiar with a couple of things – League of Legends odds and bet types.
How To Read League of Legends Betting Odds
Before you can place an LoL bet, you need to understand how to read LoL betting odds. Fortunately, that is a very straightforward process, especially if you understand how odds work.
The favorites will always be priced at lower odds – indicating a higher implied probability of winning- whereas the underdogs will always be priced at higher odds. This is all you need to understand to know how to read LoL odds; however, it helps to know that there are three formats any gambling site uses to display them.
American Odds
American odds are most common on US betting sites and are generally only used in the United States. They are written with a negative (-) or a positive (+) sign, indicating whether the team is favored to win a match or not.
The negative odds (-150) show how much money you need to risk to earn $100. In this case, you need to bet $150 to earn $100. The positive odds show how much money you can earn with a $100 wager. So a $100 bet on at +200 would earn you $200.
Decimal Odds
Decimal odds (also known as European odds) are most common in Europe and across all online sportsbooks. As the name suggests, the odds are written in decimals (1.50, 3.25), with the favorites always priced with lower decimal.
To calculate how much money you can expect to earn, you simply need to multiply your wager with the odds. For example, a $100 bet on a team at 2.00 will earn you $200 (2.00 x $100).
Fractional Odds
Fractional Odds are used mostly on UK bookmakers and are written in fractions (2/1, 5/4…). The fraction represents the ratio of the amount of profit you can expect to get to the stake.
For example, if TSM is priced at 4/6, you need to risk $6 to earn $4. Likewise, if Cloud9 is priced at 2/1, you need to risk $1 to earn $2.
League of Legends Bet Types
League of Legends bets are not quite like the bets you’ll find on traditional sports, but they’re very similar for the most part. The only big difference comes with prop bets, but other main bet types work the exact same way.
Moneyline
Moneyline bets are the most popular and the simplest bets you can make on LoL or any other esport or sport. With it, esports bettors are predicting which of the two teams will win the next League of Legends match, and it doesn’t matter how long it takes then or how they do it – the only thing that matters is the final result.
Handicap Betting
Handicaps or spread bets add a bit more variety and betting options when you’re betting in LoL matches. It is essentially a virtual advantage or disadvantage the bookmakers apply to a team depending on the team’s perceived chances of winning the match. The most common handicaps in LoL are kills and maps, displayed as betting line.
Over/Under
Over/under betting in LoL works the same way as it does in football or any other traditional sport. With this bet, you’re predicting whether a certain statistic in the game will exceed the predetermined number – most commonly the number of kills, maps, or towers destroyed.
Outrights
With outright bets, you don’t bet on who will win the next match but rather on which team will win a tournament or event. Also known as futures bets, outrights often offer the best odds and are placed on future League of Legends events and often before the event begins – such as the League of Legends World Championship or any League of Legends league.
Should You Bet On League of Legends?
If you’re wondering whether you should explore the wonderful world of League of Legends betting, you should perhaps ask yourself why not? If you’ve never tried it, trying to learn something new can sound like a daunting task. But, learning how to bet on this esports title is pretty straightforward, especially if you have access to online betting sites that can provide you with betting guides and other valuable information that will help you on your LoL betting journey.
If you want to learn more about how to bet on LoL and find the best esports betting guides, visit Esports-Gamblers.com!
This is a paid guest post.