Bet on LoL: League of Legends Betting for Beginners
League of Legends has become one of the most-played video games since being released by Riot Games in 2009, but how can you bet on LoL? This is one of the top esports titles that people look for odds on and the good news is that it is easy to place your bets on LoL. Here, we will walk you through the process from start to finish.
How to Bet on League of Legends in a Nutshell
When you bet on LoL matches, you can choose from a variety of different options. Perhaps the simplest is to place your stake on which team you think will win the overall contest, but you could also decide to wager on the amount of maps that are played and other issues such as which team claims the first map or first tower.
Bookmakers look at how likely each of the main events is to occur and work out the LoL betting odds on this basis. The less likely they think it is to happen, the more you could win if you predict correctly.
LoL Betting Odds Explained
Let’s look at the example of a bet on LoL for a current game, at the time of writing; T1 vs Danwon Gaming. The odds of T1 winning the match are 2.70, which means that with a €10 stake you would collect a total of €27, made up of your original €10 plus €17 in winnings.
On the other hand, the odds of Danwon Gaming triumphing are 1.41. With this figure, you would collect a total of €14.10 if you correctly predicted their victory. As we can see, the bookmakers think that a win for Danwon is far more likely.
American League of Legends Odds
The above example is given in the European format, but you might also see the American system used. In this case, all we have to do is convert both of them as necessary. The T1 LoL odds from above would be transformed into 170+ in the American format (you get 170 euros of profit for each 170 euros you wager), with the same payout mentioned for a €10 stake.
With the Danwon Gaming example, the 1.41 would be changed into -244 in the American format (you would need to bet 244 euros to get 100 euros in profit). Simply choose the format you feel most comfortable with and type in the amount of stake you want to use, to see how much you could win when you bet on LoL matches.
How Bookmakers Make Money
You might wonder how bookmakers make money on this kind of transaction. The truth is that they do this by offering odds that are slightly lower than they think the actual probability of something happening is.
Let’s imagine two esports teams that are very closely matched. Odds of 2 on each of them would reflect that they both have the same chance. However, the bookmaker would offer the likes of 1.85 instead. So, if they receive bets totalling €1,000 on each team they will pay out €1,850 and earn €150 in profit.
The Edge of Players in Esports Betting
The above example shows how bookmakers look to make a profit overall. Yet, it doesn’t mean that you can’t make money when you bet on LoL. The best way to come out ahead is to identify those situations where the bookmakers haven’t calculated the probability of each outcome correctly.
This is a possibility in esports in particular, as most bookmakers come from a more traditional sports betting background. This means that they may be more likely to get the odds wrong when you bet on LoL compared to bets on sports like soccer and golf.
Esports Betting Tips
You now know enough about esports betting and how to bet on League of Legends to start placing some wagers with confidence. The next step is to look for esports betting tips that help you to find the best wagers to make.
Since you are comfortable with the betting side, you can now concentrate on looking for game predictions from experts and from the League of Legends community. It is then a question of using this information to calculate whether the odds on offer to bet on LoL can be turned into profitable bets or not.
Prematch and Live Betting
Betting on the outcome before a match starts is the most traditional way of wagering on any sport. A newer approach to bet on LoL involves live betting as the action occurs, which means that you react to what is happening in the match and change your League of Legends betting approach accordingly.
This makes it more difficult for you to predict what will happen, as you can no longer rely on the pre-match analysis by experts to guide you. Having said that, it also means that the bookmakers find it more difficult to adjust their LoL betting numbers based on what is happening in the match, which results in more inaccurate odds for you to take advantage of.
Increase Your Chances of Winning with an Esports Bonus
You can get off to a flying start when you make your first deposit at arcanebet to bet on LoL. Make sure that you use the esports bonus code ARCANE30 at the cashier when doing so. You will then for every deposit between €10 and €30 receive the same amount in bonus money.
Other Esports Bets
If you enjoy the chance to bet on LoL games, you might also be interested in other esports games available at arcanebet. You could place a Dota 2 bet, or use your expertise to wager on games like King of Glory, CS: GO, Hearthstone, Starcraft, Rocket League and much more.
