All You Need to Know About Betting Odds for League of Legends
Before you get into League of Legends betting, there are several esports betting terms that you should learn about. One of the most important of those terms is betting odds, or in our case, League of Legends betting odds.
There is a lot to learn about League of Legends betting odds, like how to find the best ones and what types are there. Betting odds also provide you with some valuable information about the bet you are about to make, which is crucial if you don’t want to lose all the time. You can do really well in League of Legends betting if you know a lot about betting odds and not much about other terms.
League of Legends Betting Odds Explained
League of Legends betting have simply odds for certain outcomes in League of Legends esports events. Odds in betting convey two of the most fundamental elements of esports betting, including the amount you will get if you win the bet and how likely can a specific outcome occur.
For example, let's say the grand final for a League of Legends tournament is happening between T1 and Gen.G. In this match, several outcomes can occur. T1 could win the event, Gen.G could get a certain number of kills, or T1 could get the first kill.
Bookmakers use betting odds to determine the likelihood of each of the above-mentioned outcomes occurring. Another thing that betting odds tell us is the amount of money you will get in return for winning a bet.
Bettors must be aware of the latest odds before placing a bet. Knowing which outcome has a higher chance of occurring is a valuable piece of information and must not be ignored. Also, knowing the amount you will get in return for winning the bet will help you decide whether betting on a particular outcome is worth the risk.
Types of LoL Betting Odds
You might be wondering how you can read betting odds to figure out the exact chances of a particular outcome happening and the amount of return you will get. This will depend on the type of odds used for League of Legends betting, also called the odd format. Each odd format has a different method for reading them. Here are some of the most common types of odds LoL.
Fractional odds use a fraction to represent the return that you will get and the chances of the outcome happening. For example, a particular outcome for a League of Legends match might have fractional odds of 5/3, pronounced five to three.
Firstly, fractional odds of 5/3 tell you that you will get $5 in return if you bet $3 and win the bet, where $2 is your reward for winning the bet. In the same way, if you bet $6, you will get $10 in return, with $4 being your reward.
Secondly, since odds of 5/3 get you a return of fewer than two times your betting amount, an outcome with these odds will have a higher chance of occuring. On the other hand, an outcome of odds 3/1 has much fewer chances of occurring because the reward is three times the betting amount.
You can convert Fractional odds into Decimal odds directly using matches. Odds of 5/3 become 1.67 for the decimal format, and 3/1 become 3.0. Decimal odds are the easiest to read. The number represents the exact multiple you will get in return. For example, if you bet $100 on an outcome with odds of 3.0, you will get $300 in return, with 200 being your winning amount.
American odds use a number with a positive or negative sign. Odds of -150 mean you will need to bet $150 to win $100. On the other hand, odds of +150 mean you will get $150 in return for betting $100.
Where to Find The Best League of Legends Odds
While betting on League of Legends, one of the most important things you need to be aware of is the betting odds. Also, betting odds are one of the main factors you should consider while deciding on an online esports bookmaker. You want to choose bookmakers that have the best betting odds.
You may be wondering what good betting odds are. Since betting odds determine the amount you will get in return for winning the bet, the best betting odds are the ones that provide you the most amount of return for the bets you win.
To find the best League of Legends odds, you can look at what odds are available for a particular betting market at several online bookmakers. It is because almost all bookmakers have slightly different odds. Some bookmakers have odds with unreasonably small returns, even on risky bets. You should filter out these types of platforms and pick the ones that provide odds with great returns.
This may seem like a time-consuming and tedious task. However, you don't have to worry. There is an easier way to find the best League of Legends odds. You can check out EsportRanker for betting site reviews, where some of the top betting sites are evaluated based on several standards, including the quality of betting odds.
The Best Live LoL Betting Odds
With conventional betting, you place bets on outcomes of a match before the match has even started. However, there is another type of betting that allows you to place bets on a match as it takes place, which is called live esports betting.
Since the situation of a League of Legends match can change as it progresses, the likelihood of specific outcomes occurring also changes. For this reason, bookmakers constantly update their odds for live betting, where these odds are called live betting odds.
There are several benefits of using live betting odds over regular odds. Firstly, live betting odds are much more accurate about what outcome is likely to occur because they get updated according to the situation of the match. Secondly, you can monitor an event closely with live betting and create a better betting strategy to improve your chances of success.
Another advantage of using live betting odds is that sometimes insane betting opportunities appear. These opportunities either give you super high chances of winning the bet or getting unbelievably high returns.
Bet on League of Legends With Real Money
Not a lot of people know about it, but you can bet on League of Legends with real money. All you have to do is find a bookmaker that offers betting markets for League of Legends esports. The process for LoL betting with real money is pretty straightforward after you have chosen a bookmaker.
To bet on League of Legends with real money, go to the main page of the bookmaker of your choice and then register to the platform.
After that, pick out a deposit option from the ones available and make deposits worth the amount you would like to bet with. Now you can look at several League of Legends events and betting markets and place bets on outcomes you feel good about.
If you are on the fence about starting to get into League of Legends betting with real money, making the decision is very simple. All you have to do is ask yourself, "are you a good player of League of Legends, and do you know a ton about League of Legends esports?" If the answer is yes, you should definitely try it out.
Is League of Legends betting legal?
For the most part, it is perfectly legal. However, you must be over the legal age required for gambling and must gamble only at registered and licensed platforms. Some countries have banned gambling, so you should also check the laws of your country.
Where can I find the best odds for LoL betting?
There is no one site with the best odds for League of Legends. You will have to compare the odds offered at several betting sites and then select the one that gives you the highest return.
What types of LoL betting odds are there?
There are three types of betting odds for League of Legends, including Fractional odds, Decimal odds, and American odds. These types are also called odd formats.
Where to bet on League of Legends with real money?
You can bet on League of Legends with real money at online bookmakers that have sportsbooks for esports. Almost all esports betting sites offer betting markets for League of Legends events.
About the author
Mulenga Chanda, a passionate 32-year-old Zambian, seamlessly merges his enthusiasm for gaming with a profound knowledge of Zambian culture. Specializing in English content localization, he crafts online casino guides that genuinely resonate with the Zambian audience.