The betting landscape for cybersports is still being formed. Since gamers can now be professionals, and tournaments attract millions of viewers, the industry is becoming similar to its conventional forefathers: you may choose your favorite and place a wager, just like you would for baseball or soccer. But how exactly are those odds calculated?
Betting operators across the world are happily adding esports to their offerings. With software providers like https://www.betinvest.com, you can even start your own esports business! Give those avid game fans a media channel streaming the much-coveted live broadcasts, and accept bets!
Where Odds Come From
Naturally, sportsbooks are focused on own bottom line whilst providing fans with chances of winning. The odds are calculated in a way that safeguards the house from making a loss. For instance, if the announced odds are 1:2, for each $10 you risk you get $15 in case of victory. If your peer bets on the rival team, they will lose the same amount, and it is easy for the bookie to find the money to pay you. The tricky part is to ensure the losing team is also bet on.
How can a sportsbook ensure equal amounts are gambled on each side? There must be sufficient funds in the pot, so both the winning bettors and the house receive their shares. Therefore, as you may have guessed, the nature of odds is based on predictions of users’ preferences, rather than forecasts of actual game scores.
Misjudgment on the part of the house ends in losses. Although odds may be adjusted once the initial bets are places, doing so regularly is generally avoided. This explains why many esports bookies were struggling in their early days, until they could determine the right approach.
Fighting Match Fixers
What happens if an overwhelming majority of fans place their bets on an unlikely winner (e.g., some 1:10 underdog)? For an operator, it is a red flag pointing to possible match-fixing. The team in question could be plotting to throw the match and gain money through betting on the rivals.
For example, a professional South Korean player of StarCraft and a local bookie were arrested for conspiring to do just that. The game has already become notorious for such practices. In this respect, it may be placed alongside Counter-Strike and, occasionally, League of Legends.
Playing by the Rules
It is essential to understand that bookies are rigorous when it comes to bettor identification. They keep records in case ESIC demands details in the event of match-fixing. For example, new users of Malta-regulated Betway provide their phone number and address, and no American citizen is accepted unless they reside outside of the United States.
Faking the address, would not do the trick, as your actual location could be traced by IP. If you managed to mask it through VPN, but the operator found out, you would never see your winnings.
