League of Legends Betting Odds Guide
Even if you’re just getting into League of Legends betting, you’ve probably heard the term ‘odds’. This is the cornerstone of esports gambling. And it’s because of odds that you can make sense of your chances of winning, expected returns, and the risks that come with your bets.
If you want to make a profit by betting on League of Legends matches, it’s important to understand how LoL esports odds work. Granted, the numbers can be daunting. But that’s exactly why we’ve prepared a nice and easy guide for you!
What are esports betting odds?
In the world of esports gambling, odds are connected to the concept of implied probability. They express the chance of something to happen. Let’s say we’re talking about LoL Worlds odds for a fictional series between Fnatic and SKT T1. Both teams can come up with a win, but one is likely to be the favorite.
In this case, League of Legends bookmakers will analyze countless factors like recent performances, team histories, player statistics, head-to-head records, and more. By the end of the process, they’ll come up with the chance of each team winning the series. And that chance is conveyed through odds.
One of the most popular types of League of Legends betting odds is fractional odds. So if we were to go back to our example, a bookmaker might say that Fnatic have a 3/1 chance of winning their series against SKT T1. That is, for every 3 games they lose, they’ll win 1.
This isn’t the only way to express probability, and you’ll often have to make a LoL odds comparison for fractional, decimal, and even moneyline odds. Let’s go through them one by one.
Fractional LoL esports odds
Fractional odds are most commonly used for sports and esports betting in the UK. They’re easy to use and easy to understand. Moreover, you can translate them into implied probabilities (i.e. actual percentages) in the blink of an eye! For the same Fnatic vs SKT T1 series, the 3/1 League of Legends betting odds for Fnatic would be equal to a 25% chance of them winning the series.
Here’s how you get to that number:
3/1 = 1 / (3 + 1) * 100% = 25%
And then you can throw in more examples:
7/2 = 2 / (7 + 2) * 100% = 22.22%
11/4 = 4 / (11 + 4) * 100% = 26.67%
1/3 = 3 / (1 + 3) * 100% = 75%
1/18 = 18 / (18 + 1) * 100% = 94.74%
As you can see, if the number on the left is bigger, your team has a smaller chance to win. And if the number on the right is bigger, your team is a favorite. With that, you can quickly tell which team is supposed to win the matchup—at least, according to the bookmaker.
But what about the actual payouts? Well, things are pretty straightforward. The number on the left indicates the sum you’re going to get if you win, and the number on the right tells you how much you have to bet to get it. So if we—once again—turn to our examples:
3/1 – you bet £1, and you get £3
7/2 – you bet £2, and you get £7
11/4 – you bet £4, and you get £11
1/3 – you bet £3, and you get £1
1/18 – you bet £18, and you get £1
So if we make a LoL odds comparison, the second wager (7/2) would be the most profitable, and the last wager (1/18) would be fairly narrow. Of course, both of them will cost you money if your team loses. Oh, and while we’re at it, no one’s forcing you to make a bet for a fixed amount. And if you wanted to make a £15 bet for odds of 7/2, you’d just have to multiply the numbers:
£15 * 7/2 = £52.5
Decimal LoL esports odds
In the world of LoL esports betting, fractional odds are gradually being pushed out by decimal odds. The main reason behind the change is that decimal odds are even easier to understand. And it’s always nice to avoid convoluted math when you’re trying to make sense of your potential profits.
Also, decimal odds tend to include your winnings and your stake while fractional odds show winnings only. Basically, you get an accurate picture of the amount that will go to your account. Figuring out the implied probability is easy. All you have to do is divide a 100% by the decimal odds number:
4.0 = 100%/5 = 20%
3.5 = 100%/3.5 = 28.57%
1.75 = 100%/1.75 = 57.14%
1.2 = 100%/1.2 = 83.33%
The higher the number, the less likely you are to win. Easy.
And what about the returns on your investment? Well, you calculate that by multiplying the amount you bet by decimal odds. So if you wager different sums on the League of Legends betting odds of 1.75, you’ll get the following results:
£5 = £5 * 1.75 = £8.75
£10 = £10 * 1.75 = £17.5
£25 = £25 * 1.75 = £43.75
£44 = £44 * 1.75 = £77
Keep in mind that this isn’t just your winnings, it’s also your stake. So the final number reflects the entire sum that goes to your account. With fractional odds, you’d have to add your initial stake manually.
Moneyline (American) LoL esports odds
Moneyline (or American) odds are primarily used in the USA. They’re a bit more complicated, hence their diminishing popularity. Still, you might encounter them on some League of Legends betting sites, so it’s a good idea to get familiar with them.
Moneyline odds fall into two categories: positive (+) and negative (-). The positive ones showcase how much money you would make by betting a $100. So if you see LoL esports odds of +175, you know that a $100 bet would return $175 as winnings.
On the other hand, negative moneyline odds display how much money you need to wager to win $100. So if your League of Legends betting odds are -120, that means you can bet $120 to win $100. Now, here’s how you calculate both types:
Positive moneyline odds: Stake * (Odds / 100) = Your Winnings
Negative moneyline odds: Stake / (Odds / 100) = Your Winnings
Just remember that your initial stake isn’t included, so you have to add it manually once you’re done with your calculation. Otherwise, you won’t have a clear grasp of how much money is going to return to your LoL betting account.
Making a profit
Okay, now that we’re done with the different types of LoL esports odds, how on earth can you use these to generate a profit? Well, you do it by making value bets.
The best way to showcase this is through an example. Let’s say we enter a fictional universe where CLG and G2 clash at the World Championship. Both teams are dead even skill-wise. And since this universe is fictional, your bookmaker decided to set incredibly generous LoL Worlds odds of 2.00 for each team.
With that, this wager is akin to a coin toss. Each team has a 50% chance to win, and you can either double the amount you bet or lose it all. So, the value is neutral, meaning that you’re not going to get much out of this kind of bets if you keep making them.
But what if CLG were the slight favorites? What if their chance to win was 60%, but the bookmaker didn’t catch on to it? Well, that’s when you enter the realm of positive value! When you have a 60% chance to double your stake and only a 40% chance to lose it, the bet becomes a no-brainer.
In the real world, odds will be stiffer, and it certainly won’t be as easy to outsmart bookmakers. But it’s exactly these types of esports bets that will let you make the most out of your money.