Although it would certainly be helpful, you don’t have to be a statistician to wager on esports. An investment in a calculator might be wise if you want to bet on esports but struggle with math. At some point in your esports betting career, math will be involved, whether you’re calculating odds or merely wondering how much return you can anticipate on a bet. Strong math can maximize your profits, lower your costs associated with esports betting, and simply make it simpler for you to comprehend what you’re doing when you place a bet. GCash casino .
Esports betting websites rely on people frequently losing their bets and wouldn’t be around if you could simply use a few simple formulas to prevent this. I feel that it’s important at this point to disclaim that this article will in no way teach you how to “game the system.” The odds of a bet will never be 100%, despite the fact that these formulas can help you avoid losing unnecessary money and place bets with greater confidence. Even if they achieve 99.99999%, that 0.00001% chance still exists. You won’t become a money-making machine by following the formulas in this article, but they will make you one of the more knowledgeable esports bettors.
The Most Important Formula for Calculating Winning
You’ll be relieved to learn that the most crucial formula you need to understand is also one of the most straightforward. For it, are you prepared? Using the equation Y=X, you can determine your betting success rate. X stands for the average betting odds in this formula. You are probably betting on 2.0 odds, though these can vary from book to book. Simply add the figures on the bet’s two sides to find this number for yourself. It will be simplest to enter them as a percentage if you are using a book that uses ratios for betting. For instance, the odds of 2:1 favor the “2” side by 66.64%. On the other hand, even though this is also a notation for a percentage, you can use 2 for X if the odds are written out as “1.77 vs. 0.33.”
Z in this equation stands for the proportion of wagers you have won. Calculating this number on your own is also fairly easy if you don’t have exactly 100 bets to base your count on. Put the number of wagers you have won over the total number of wagers you have made first. Consider the scenario where you have placed 45 bets and won 27 of them. This is represented as 27/45. Create an equation where the number equals X multiplied by 100. The equation in this illustration now reads 27/45 = X/100. The new equation will look like 2700 = 45 after we cross multiply (multiply the bottoms by the top) (X). The percentage can then be calculated by multiplying both numbers by the number with X. In this instance, we will divide 2700 by 45 to arrive at the solution, which is 60 = X. We now have a winning percentage—60 in this case—after all this math. If math isn’t your strong suit, you can do this by using a percentage calculator.
Unfortunately, you will need to perform some math after this, but it is incredibly easy. We should use a decimal to represent the percentage in this formula. If there isn’t a decimal, it is at the end of the number; otherwise, move the decimal two places to the left. Therefore, we would use.6 for X in our example.
The result of multiplying the two is Y. We will arrive at Y=1.2 if we use 2.00 betting odds in our example. This informs us of both our level of success as well as whether we are successful or not. You are doing well if your number is greater than 1. You are losing money if your number is less than 1. This is more accurate the further you are from 1. In other words, if your score is 1.8, you are doing exceptionally well, and if it is.12, you are losing 78% of your money. You are earning a 20% return on your investment in this example.
This formula is crucial for figuring out your breaking point as well as for identifying your success metric. Consider pausing your betting for a while if you are several digits away from 1.
Expected Value: The Most Entertaining Formula
Expected Value formulas are the way to translate that number into money if Y=X(Z) can tell you how well you’re doing. For those who are unfamiliar, expected value is essentially what it says it is. Expected Value essentially tells you how much money you can expect to win or lose if you place a bet repeatedly and endlessly. For instance, if you were to place a $5 wager on a coin toss and received a return of $6, your expected value would be $0.50.
Again, estimating expected value is a fairly simple process. According to the following equation: (Probability of Winning) x (Amount Won Per Bet) – (Probability of Losing) x (Amount Lost per Bet). Therefore, we would enter these variables in our example: a 50% chance of winning, $6 won; a 50% chance of losing, $5 lost. As a result, our formula appears to be.5(6)-.5 (5). Keeping in mind the order of operations, we will multiply to obtain 3-2.5. Simple subtraction yields an expected value of $0.50. Simple, right?
Most esports matches won’t come down to straightforward percentages, of course, as more variables are taken into account. The main significance of this formula lies in that. One of the key differences between the average esports player and the professional is their understanding of expected value. An extremely high expected value or a negative one have no significance because we can never bet repeatedly on the same game. Risk can be calculated instead using expected value. More positive odds on that wager are to be expected as the EV approaches a median. You want an event with many games that have EVs of $10, not one with sporadic EVs of $100. Negative expected value (EV) bets are rarely profitable, but you may occasionally find situations where the chance of winning outweighs the chance of losing, as is the case in most “underdog” scenarios.