Betting on the Underdog in Esports: Is it Worth it?
Esports betting is among the most popular forms of online betting, with millions of fans eager to test their skills and knowledge on their favorite esports games. One area that sparks curiosity is betting on the underdog teams, teams with less chance of winning. But could this be a better strategy for a higher reward? EsportRanker provides insights into what an underdog team is, how to approach a good underdog bet in esports and weigh the pros and cons of underdog betting to help you decide whether it’s worth the risk.
What is an Underdog in Esports Betting?
In esports betting, the term underdog definition refers to teams or players expected to lose against a stronger opponent. Bookmakers assign higher odds to these teams due to their perceived lower chance of victory. For example, in a League of Legends matchup, a rookie team might face off against a seasoned squad, making the former the underdog.
Underdog Examples in Major Esports
Some common examples of underdog situations in esports include:
- League of Legends (LoL): A wildcard team making its first appearance at the World Championship.
- Dota 2: Teams that barely qualify for tournaments competing against previous champions.
How Odds Work for Underdog Bets
Bookmakers use odds to reflect the probability of an outcome. When you bet on an underdog, higher odds might lead to larger potential payouts. For example, betting $10 on a team with odds of 4.5 could yield $45 if they win. However, such bets carry significant risks, as favorites often dominate matches.
Strategies for Esports Underdog Betting in Canada
Betting on the underdog in esports requires more than just gut instinct; it demands a calculated and strategic approach. Below are essential esports betting strategies for Canadian players to enhance your chances of success:
Research and Analysis
Success in underdog esports betting starts with thorough research. Analyze esports team performance, recent matches, player statistics, and even map preferences. For instance:
- Does the underdog team excel in specific game modes or maps?
- Are they facing a team notorious for inconsistency?
Identifying Valuable Opportunities
Not all underdog esports picks are worth the gamble. Look for factors that can tilt the odds in their favor:
- Underrated Teams: These are teams with strong strategies but limited exposure.
- Inconsistent Favorites: Teams with a history of underestimating weaker opponents.
- Meta Shifts: Sudden game patches can disrupt favorites and favor adaptable underdogs.
Bankroll Management
Betting on underdogs can be unpredictable. To minimize risks while maximizing long-term potential, allocate only a small portion of your bankroll to these bets and avoid chasing losses.
Pros and Cons of Betting on the Underdog
Betting on the underdog is known to have many disadvantages but that is not always the case. Here are some pros and cons to consider when betting on the underdog:
| 🏆 Pros | ⚠️ Cons |
|---|---|
| 💰 Higher Potential Returns: The main allure of underdog betting lies in the lucrative payouts. Even a small bet can yield substantial rewards. | 🎲 High Risk: Most underdogs lose, making it easy to drain your bankroll without proper strategy. |
| 🎉 Excitement: Cheering for the underdog adds thrill to esports viewing. | 🔄 Unpredictability: External factors like technical issues or roster changes can derail even promising underdogs. |
| 🔍 Opportunities for Insight: Careful analysis can uncover hidden gems, like teams with untapped potential. | ❤️ Emotional Bias: It’s tempting to bet on your favorite team, even when they’re an underdog, which can cloud judgment. |
Underdog Performance Statistics
Statistically, betting on esports underdogs offers lower success rates. For example, in the 2022 League of Legends World Championship, underdogs won only 18% of matches. However, calculated bets in select situations—such as Fnatic’s unexpected victory over T1 in the group stage—can pay off significantly, especially for esports championships or tournaments.
Real Examples of Underdog Victories in Esports
- OG’s Dota 2 Win at The International 2018
OG entered the tournament as a massive underdog, yet they triumphed over PSG.LGD in the finals, securing one of the biggest prize pools in esports history. Betting on OG in early rounds could have yielded staggering returns. - Cloud9’s CS:GO Major Championship Win (2018)
Cloud9 overcame tournament favorites FaZe Clan in a thrilling final to claim the ELEAGUE Major title. As a wildcard pick, Cloud9 rewarded bettors handsomely.
Conclusion: Is Betting on Underdogs Good in Esports?
So, is betting on underdogs good in esports? The answer lies in finding the right opportunities and approaching them strategically. Betting on underdogs can be highly rewarding when backed by solid research and analysis. Key factors such as team performance trends, betting odds of esports teams, and contextual insights play a critical role in identifying valuable bets. While it’s not a guaranteed path to success, underdog betting can be a smart move when the potential outweighs the risks. By staying informed and selective, bettors can make the most of these high-stakes opportunities in the world of esports.
FAQ
What does "underdog" mean in esports betting?
In esports betting, an underdog is the team or player considered less likely to win. Sportsbooks in Canada give underdogs higher odds to reflect their perceived lower chance of victory.
Why do bets on underdogs pay out more?
Bets on underdogs come with more risk, hence the higher payouts. Since they're not expected to win, sportsbooks offer better potential returns to encourage bettors to take the chance.
When is betting on the underdog a good idea?
Keep an eye out for situations where the game has been updated (a "meta shift"), the favourite team isn't playing well, or a team is being underestimated. These can be good times to bet on the underdog.
What are the biggest risks when betting on underdogs?
The main risk is that underdogs usually lose, since the favourites are, well, favourites! Also, things like team changes or tech problems can make things even less predictable.
How often do underdogs actually win in big esports tournaments?
Underdogs don't win very often. For instance, in the 2022 League of Legends World Championship, they only won about 18% of the time. But, if you're smart about it, you can still make some good money.
What's good about betting on underdogs?
You can win more money, it makes the games more exciting, and you might find a great team that nobody else knows about.
Is it worth betting on underdogs?
If you do your homework, find good opportunities, and manage your money well, betting on underdogs can be worth the risk. Remember to gamble responsibly and set limits.
