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How do you calculate Betfair’s bookmaker’s margin? How do you calculate profit? Odds quality? These are some very important questions regarding your betting. We have all the answers in our special Betfair eSports Betting Markets and Odds article!
Betfair is one of the biggest and most popular eSports online betting providers in the world and they cover all the best eSports. League of Legends and DotA 2 fans, along with Counter-Strike: Global Offensive and StarCraft 2 enthusiasts, can bet on their favorites at the Betfair sportsbook.
Similar to most of the sportsbooks, Betfair’s focus is on the money line type of bets, where you can choose the winner of certain matches. This is the most common type of Betfair eSports betting markets offered by Betfair and is featured for every event.
For selected games, you can bet on handicap markets, where the favored team will start with a handicap of certain points in order to make the battle more interesting from a betting point of view. Unfortunately, the variety of betting options stops here. However, with the huge development of the eSports competitive scene, we expect a wide range of different betting markets to be available at Betfair very soon! We will update our Betfair eSports betting markets overview once new betting options have been added.
The good thing here is that you can bet on almost all of the biggest competitions such as the DotA 2 Majors and The International, the League of Legends MSI and Worlds Finals, and of course all the Counter-Strike: Global Offensive main tournaments. You already know the offered betting options, time to move on to the Betfair offered odds.
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Two of the most popular types of odds in Europe are offered at the Betfair website. You probably guessed that we are speaking about Decimal and Fractional odds.
Let’s start with the Decimal view, where the odds are expressed in their numeric form, so the explanation is very easy and simple. And to be even more detailed we will use this example from the Betfair sportsbook:
As you can see in the picture, we have the League of Legends match between Isurus Gaming and Virtus.Pro for the Mid-Season Invitational tournament. Odds are as it follows: 2.75 for Isurus and 1.44 for their rivals. This is all we need to calculate the profit through decimal odds view. To do so, we will use this simple formula:
Or in our case, with a $10 bet calculation will look like that:
Bet on Isurus: 10 x 2.75 = 27.50 ( 10 stake + 17.50 clear profit)
Bet on Virtus Pro: 10 x 1.44 = 14.40 ( 10 stake + 4.40 clear profit)
As you can see, the Virtus.Pro team is considered as a favorite, regarding the Betfair oddsmakers, and logically the winnings are smaller. Basically, this is the way to calculate your profit and to find the logic of the Decimal type of odds.
Next we have Fractional odds. You can easily recognize them since they are displayed with two numbers divided by a slash line. To explain better, we will use the example of the same eSports match at Betfair.
If you are not familiar with the Fractional Odds, you are probably wondering what 7/4 and 4/9 mean. The numbers on the left (7 and 4 in our case) are for your potential profit, while numbers on the right (4 and 9) are displaying the required stake. Or in other words, if you bet $4 on Isurus Gaming, you will get $7 clear profit and a $9 bet on Virtus.Pro will reward you with additional $4.
Similar to the rest of the eSports betting markets and odds articles, we will again use the bookmaker’s margin as the main ranking factor for odds quality. It can be easily calculated with the certain formula:
Thanks to the decimal odds view, the calculation will take us only a few seconds. Using the same example from above, we know that the odds were 2.75 and 1.44 for both teams.
(1/1.44)*100 + (1/2.75)*100 = 69.44 + 36.36 = 105.80
The margin for the Betfair eSports betting markets in this match is less than 6%, which is something impressive and can be considered as one of the best in the eSports betting area. In the following table, you can see how the percentage changes, depending on the eSports market:
If you are asking yourself why the bookmaker’s margin is so important, here is the answer: professional eSports bettors typically avoid single bets and tend to use multiple systems of bets instead. Because of that, the high margin percentage can swallow a big chunk of the potential profit. That is the reason to track the bookmaker’s margin regularly to see if there any changes that can affect your betting.
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From all said above, you already know that Betfair has some incredible eSports odds waiting for you. Along with that, all of the biggest eSports competitions are well covered at the bookie. Last but not least, you can use the amazing welcome offer and decent mobile application so you won’t miss any action on the go!
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