Every bettor who has bet more than once in an online casino is probably familiar with “house edge.” And even when it comes to esports betting, it’s a term that is being widely used. If by any chance, you’re planning your next bet, let this article give you a short recap to understand house edge about esports betting and the best way you can do to increase your chances of winning.
Bet on the best esports betting platforms and gain better insights in understanding how the house edge against you to turn your gameplay into a more profitable one!
How Does House Edge Works in Esports Betting?
House Edge is the advantage of the sportsbook over their players. It’s basically their profit to gain in your every bet. Every bookmaker builds in a small margin to ensure they make a profit over time, no matter how the bets turn out. This is the house’s edge.
To further understand how it works, take a look at the example below:
Let’s say that you bet in a Dota 2 tournament between Team Liquid and Evil Geniuses. The bookmaker might offer odds like 1.85 for each side, even though the real 50/50 odds should technically be 2.00.
That difference between the “true” odds and the actual odds you’re offered is where the house edge comes in. It’s how the betting platform makes sure they’re always a step ahead in the long run.
In esports betting, the house edge might not be as obvious as in games like roulette or blackjack, but it’s still there—hidden in the odds. This is why even when two teams seem evenly matched, the potential payout is slightly less than what the risk should ideally return.
Calculating the Casino House Edge: Explained
Now that you have a pretty good idea of what a casino house edge is and how it works, let’s now proceed on how to calculate them. Basically, it is the relationship between the probability of winning and the payout.
To better understand, here’s the formula that you can refer to:
House Edge (%) = (Bet Sum – Win Sum / Bet Sum) X 100%
- Bet Sum is the total amount of money wagered by players.
- Win Sum is the total amount of money paid back to players as winnings.
- The difference between those two amounts shows how much the casino retains as profit.
- Multiply that by 100, and you get the house edge as a percentage.
With this, all you have to do is subtract the total winnings of players from their total bet, and the result is divided by the total bet. To express it as a percentage, you just need to multiply this by 100 to have the portion of the bets that the house keeps as profit on average.
However, when betting in esports, you don’t need to master how to calculate the casino house edge. What is more important is that you choose a trusted esports gambling website to make sure that every bet comes with a reliable casino house edge and that you have safe and fair gameplay.
Can Casino House Edge Affect Your Winnings?
If you’re wondering if house edge can affect your betting, the short answer is Yes! It has a direct impact on your long-term winnings, so understanding how it works is crucial throughout your betting journey.
It’s a built-in advantage ensuring the sportsbook will earn overtime regardless of the outcome of an individual bet. As you continue betting, it continually adds up. That small difference in odds might not seem like a big deal for a single bet, but across dozens or hundreds of bets, it can significantly reduce your overall returns.
Understanding it can give you an edge in return and sports when odds are less favorable, and it might be better for you to look for the top esports sportsbook online that offers the best odds. And with that, you can explore the listing that we have here at SGCasinoInsider. Not only can they be your go-to platform for classic casino games but also your much-awaited esports matches.
Is it Possible to Beat the House Edge in Esports?
While it is not possible to beat the house edge, you can do something to minimize their effect. You do so by consistently applying the best betting strategies to improve your odds such as the following:
Look for value bet
A value bet happens when the odds offered by the sportsbook are better than what you believe the true probability is. For example, if you think Fnatic has a 60% chance of beating FaZe Clan, but the odds suggest only a 45% chance, you’ve found a potential value bet. Finding value requires research, not guesswork.
Choose a sportsbook that has the best odds
Considering that house edges might vary from one another, you should take time to choose the best esports betting platforms Singapore and make sure that they offer the best ones in the market. No matter how small the difference is, it’s worth considering as it can have a significant impact in the long run.
Know to differentiate: Myth vs. Reality
Similar to betting in traditional casino games, you must make an informed betting decision. One way to do this is by differentiating myth from reality. For instance, the truth is house edge will always be in the favour of the casino, but with the use of the right strategies you can use something to make it less against your odds.
Frequently Asked Questions
What does the term “house edge” mean in the context of esports betting?
When it comes to esports betting, house edge refers to the built-in advantage that a sportsbook has over the bettor. It’s a percentage making sure the sportsbook earns a profit over time. They can be found within the odds present when betting on popular matches such as Dota 2. Counter-Strike 2, and League of Legends.
What’s the difference between house edge and RTP percentage?
House Edge and Return to Player (RTP) are related to each other but they are not the same. The first is the sportsbook’s advantage long-term, while the latter is the theoretical percentage of online casino games to pay back to the player’s time.
How does the house edge affect long-term profitability for esports bettors?
Since the house edge is technically on the sportsbook side, the higher the house edge of the esports you bet on, the less likely you are to have a higher profit, and vice versa. That’s why it’s important to understand its concept to ensure you will have rewarding gameplay in the process.
