Breaking the most popular esports betting myths
There are a lot of myths out there regarding betting on sports. Some believe the system to be rigged so that they can't win, some are skeptical about the truthfulness of odds, and more. But wise and experienced bettors are able to prove any such myth false.
The situation is no different in esports. Those that realize that good bankroll management, minimizes risk, and that a proper evaluation of esports matches can make all the difference, have learned otherwise.
Here are the five most popular myths about esports betting and why they’re not true.
Myth: Fixed matches are common
Though this is a myth more often heard in traditional sports, there have been instances where fans believed matches were fixed so that betting organizations would earn more money in esports.
The truth is, there is no real gain for serious betting organizations in these instances and esports teams would rarely find participating in betting corruption to be a risk worth taking. There have been instances of teams and bookers entering in such illegal partnerships in the past, most notably in StarCraft: Brood War's professional scene in Korea.
However, an experienced better would know to go to reliable websites , betting with established companies that have far more to gain from maintaining good and honest betting practices.
Myth: Odds are irrelevant, betting is all just luck
Odds aren’t just made up numbers by betting sites based on public popularity and favoritism. The numbers come from deep analysis and precise forecasting.
Odds are a reflection of probability calculated based on a number of factors. From historical match results and player performance to the impact of a game's current meta, a lot of math goes behind the number that tells bettors which team is more likely to win and which is an underdog.
Myth: Betting against the highest odds is never profitable
A team facing higher odds has a lesser probability of winning, so it’s easy to understand where this myth is coming from. If a person bets on an underdog team, the possibility of losing money on that bet is the first thing that comes to mind.
Especially in esports where underdogs often surprise fans and turn the games around, bettors that feel confident in a team with higher odds also have a higher chance of winning at those high odds. Most of the strategies here involve reduced stakes due to the higher risk, but a bettor can earn money on high stakes with sufficient knowledge and understanding of the game and the teams in play.
Myth: It’s impossible to win money in the long term
Betting isn’t just a fun gamble, it’s a business. And a good business needs a developed model and strategy if it wants to make money in the long term. Making money from gaming is all about considering the long term.
Knowing how to maintain a budget, not getting lured into bad bets by personal feelings, being in control of one's bets at all times, and knowing how to balance stakes will ultimately result in a good payout. When losses do occur, budgets may need to be cut to compensate. When wins happen, stakes and risks can be responsibly increased. This is how bettors keep their hobbies profitable and fun, with responsible practices and careful calculations.
Myth: The more money, the greater the chance of success
Earning more money in the long term doesn’t simply come from putting more money into gaming. If more money is put on a stake in hopes for a higher payout, there’s always a risk of losing it.
This doesn’t mean that the odds will be working against a bettor that has placed more money. But to make betting profitable, one needs to play smart, and more money should be invested only when more is likely to be earned as well. It’s better to start smaller and securely grow one's budget along with the increased stakes. An unnecessarily heavy risk is not a risk worth taking.
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