If you want to become a serious esports bettor, developing your own esports betting strategy is essential. In addition to knowing what you should do in order to be successful, it is important to avoid the common mistakes that most bettors make. Keep reading to learn how to inform your esports betting.
If you’ve read our how to bet on esports guide, you might be eager to start betting straight away. However, if you want to make money from betting on esports you need to use some kind of strategy. This list of the do’s and don’ts is a must-read for anyone who wants to advance beyond the basics of esports betting.
Esports betting: Things that will help you succeed
Bet with the right bookmaker
If you’re serious about betting on esports, you need to make sure you use a bookmaker that won’t eat into any profit you make. You need a bookmaker with low margins so you get the best possible odds, as well as a bookmaker that doesn’t restrict winning bettors and will let you bet as much as you want.
The more you know about something, the more likely you are to make informed betting decisions.
These might sound like basic requirements for any bookmaker but in reality, Pinnacle is one of very few that ticks all those boxes - each bet will cost you less at Pinnacle, you're allowed to bet more than anywhere else and crucially, no matter how much you win you're allowed to keep betting.
Use a staking method
In order to place a bet, you need money. It might seem simple but looking after your money is an essential part of betting. The best way to optimise the bankroll you have is with a staking method - which staking method you use could be determined by the kind of bettor you are.
Do your research before you bet
Bet on what you know. It might be one of the most obvious statements to make when it comes to making a profit from betting but it shouldn’t be taken for granted. The more you know about something, the more likely you are to make informed betting decisions.
This could be anything from focusing exclusively on particular games or even particular teams and available markets. If you spend time building your knowledge, it will be easier to find value and spot discrepancies in a bookmaker’s odds.
Act on information
Novice bettors often overlook the value of information. As mentioned above, doing your research on a particular game, team or market will help you know when it is the right time to place a bet. However, if you have access to information that a bookmaker or other bettors don’t, you will be one step ahead of the market.
If your bet loses but you consistently bet at higher odds than the market closes at, you’re doing something right.
Team news is a great example of valuable information. If you know a team aren’t playing their strongest players and therefore have a much lower chance of winning, betting on their opponents before other people find out means you’ll get the best possible odds - if you can do this consistently, you’ll make a profit in the long run.
Always measure success
It’s all well and good seeing positive results from your esports betting exploits but if you don’t measure that success (as well as your negative results), you won’t know what your long-term profit figures are like.
Additionally, using a bookmaker’s closing odds is a great way to see how accurate even losing bets are. If your bet loses but you consistently bet at higher odds than the market closes at, you’re doing something right and it will most likely be a case of waiting for instances of randomness and luck to even out.
Esports betting: Common mistakes to avoid
Betting on too many games
If you can recognise how important a staking method is in the developement an esports betting strategy, you will know it is incredibly difficult to make a profit if you bet on every game - this is because you need to find odds that offer positive expected value.
You need a bookmaker with low margins so you get the best possible odds.
Back in the times of skin betting, a keen redditor spent the time to work out how much profit or loss you would make if you bet on every underdog or favourite on CS:GO Lounge. On both of them you would have made a loss. If you’re betting to make money, you should only bet when the probability is in your favour.
Being drawn in by the odds
Lots of new bettors will see a match with high odds and be tempted to bet on the underdog for a big return or place a big bet on the favourite for a “guaranteed profit”.
Remember that the odds represent implied probability - it is merely a bookmaker’s estimate of what will happen. It is best to calculate your own probability of a team winning and then use the correct staking method to ensure you don’t lose all of your bankroll on one bet.
Betting on chain logic
Team A beat team B, but team B also beat team C, so therefore team A will beat team C as well. This does not work. You are ignoring the key pieces of vital information.
If you choose the right bookmaker, do your research, act on information when you have it, always use a staking method and track your results, you are more likely to succeed.
A team may have won both pistols, their play styles or map pools may not match up well against one another, a team had an off day, one game was on LAN/online, teams knew each other well or other outside factors affecting a team’s performance are just a few examples of why chain logic doesn’t work in esports betting.
There are so many variables and factors that can decide the outcome of a match. Bettors should avoid using chain logic as part of an esports betting strategy and instead, act on more reliable information.
Betting based on emotion
If you have read about the psychology of betting, you will know that betting based on your emotion and personal feelings is never a good idea. Whether it’s ditching your staking method because of a few bad results or betting on your favourite team without analysing the odds, staying detached from the bets you make will help you succeed.
We’ve previously shown how patience is an essential trait for any serious bettor. Don’t let your emotions get the better of you when things don’t go to plan. If you choose the right bookmaker, do your research, act on information when you have it, always use a staking method and track your results, you are more likely to succeed.
The journey to turning a consistent profit from betting on esports doesn’t stop there. These are just some basic guidelines to stick to if you’re serious about making money from esports betting. Similarly to playing esports, it takes time and effort to develop your skills.
Ready to start using an esports betting strategy? Get unbeatable esports odds at Pinnacle.