Punters’ Dota Bet Odds Explained
The amount of money that punters are able to win when they make an eSports Dota bet, no matter which kind of wager from the various options provided it is that they end up selecting, will depend on two factors:
- How much money is bet
- What the odds for the bet are
The odds can be said to indicate the probability of a particular outcome occurring.
The Different Dota Bet Odds Formats
Dota bet odds are offered in two types of formats, the American and the decimal. The latter is the easiest manner of bettors to calculate the amount of money they are potentially to win if the wager proves successful, and is a firm favourite with those who like to enjoy this MOBA game in this manner.
Basically, the lower the decimal number, the higher the likelihood that the team which the number is linked to will win, and the higher these decimal odds, the lower this probability will be. If, for example, team Na’Vi has odds of 1.600, and team Liquid 2.500, then the site offering this Dota bet feels that Na’Vi has more chance of winning the round.
Punters are able to calculate their possible winnings with a Dota bet in decimal format by multiplying the odds given by the amount wagered. In a match win market, the most common, punters will be asked to guess which of the two teams taking part will emerge victorious. The hypothetical odds in place for this example are those in use above, and the formula to calculated winnings could be illustrated as odds x stake = return, which would translate to 1.600 x 100, on a $100 bet, which would see a successful punter pocketing $60. Bettors who picked Na’Vi would see $150 by this calculation.
A Dota bet on a match winner which makes use of decimal odds will have the amount of money wagered known as the amount to risk. The bet ticket will indicate the punter’s potential win amount, or potential return.
Using Decimal Information to Calculate Outcome Probability
Punters are also able to make use of the Dota bet decimal information to work out the likelihood of a particular outcome: simply dividing the decimal odds by one will reveal this information. The formula can be illustrated as 1 / decimal odds = outcome, which would translate as 1 / 1.600 = 0.625. Thus, the bookmaker offering this market has stated that team Na’Vi has a 62.5% chance of winning the match. By applying this formula, punters can also see that the bookmaker feels that team Liquid has only a 40% chance of taking first place.
Observant punters will see that the addition of these two probabilities equals 102.5%. This is because odds always include a so-called bookmaker’s margin. This bookmaker’s margin is the amount of money which the bookmaker aims to earn from providing the facilities to place bets, and is a variable, in this case standing at 2.5%.