Betting on League of Legends is great fun. Many gamers will add some excitement to the streaming action by betting on their favourite LoL teams. But if you want to make a success of betting on this esport, you’ll need to know how LoL odds work.
This is because it is the LoL betting odds that determine what kinds of wins you could make with your bets. Plus the odds will indicate just how likely it will be that you’ll either win or lose your League of Legends bet. Even if you use the best LoL betting tips, you’ll still need to find a bookmaker who gives you decent odds to bet on. After all, there’s not much point in putting down a LoL bet if the League of Legends betting odds give you nothing in return.
So we have prepared a guide that will take away all of the mystery that surrounds LoL esports odds. Plus we have even created a comparison table that shows you the best LoL betting odds currently on the market. It’s never been easier to make some awesome wins with your League of Legends bets.
How are LoL odds calculated?
LoL esports odds represent the chances of a specific event happening in a League of Legends game. They could represent Team A beating Team B, or Team A winning the first map. You could even bet on LoL Academy odds for the team to win the tournament as a whole.
The odds will be set by the bookmaker who will hire odds compilers to make expert predictions about how likely certain events are to happen. It’s then your job to bet on the odds and hope that you are right. Odds will be displayed in the following ways at most esports betting sites:
- Decimal odds: Perhaps the easiest way to understand odds. For example, you might see LoL Vegas odds of 2.00. This would mean that if you bet £10 on these odds and won, you would get £20 back. Simply put, the higher the decimal odds, the tougher it is to win your bet, but your winnings could be bigger.
- Fractional odds: These can be found at many UK bookmakers. The number on the right represents how much you’d win compared to your stake which is represented by the number on the left. So if you bet on odds of 4/1, you would get £4 for every £1 that you’d bet.
- American odds: Here you’ll see odds for the favourite that will be shown by a negative sign that shows how much you’d need to bet to win $100. There will also be odds for the outsider shown by a positive sign that reveals how much you’d win for every $100 that you’d bet.
Why do bookmakers have different LoL betting odds?
The esports betting industry is fiercely competitive. As a result, it is you the gaming fan who benefits by knowing that you can switch between bookmakers to find one who has the best value LoL odds. This is something that all esports betting sites will realise, and they will constantly be figuring out how they can give you evermore competitive League of Legends odds.
When you want to bet on the biggest tournaments like LoL Worlds, you will see that many betting sites will have roughly similar odds. But even the slightest edge in the odds can have a big impact on what kinds of wins you make.
This is why it pays to shop around to find those bookmakers who keep their betting margins competitive so that they can afford to give you more generous LoL odds. Betting margins refer to the fact that bookmakers will offer odds that are just lower than the actual probability of a particular event happening. They do this so that they can afford to stay in business should lots of gaming fans win their bets.
The betting sites with the best League of Legends odds
There’s plenty of competition among esports betting sites to serve up the best value LoL odds. After all, this is arguably the world’s biggest esport, and so all decent bookmakers will try and get your custom by putting on competitive odds.
This means that you should always do plenty of shopping around to make sure that you are betting on the most generous League of Legends odds. It’s definitely worth heading to some of the major betting sites like Betway as these brands are well known for putting on consistently good esports betting odds. Plus the Pinnacle LoL odds are equally famous for their value.
However we should also mention that many dedicated esports betting sites like Rivalry and GG.Bet have been surprising us with the quality of their LoL Vegas odds over the past few months. Plus don’t forget to give innovative betting sites like Luckbox a try whenever a big tournament like LoL Worlds comes around.
How do LoL live odds work?
Most people are happy to bet on League of Legends before the match begins. But live betting on LoL is way more fun. This means that you bet on the games after they have begun. You will see a similar range of betting options like match winner bets, map winner bets and so on. But you will notice that the odds will constantly be changing in correspondence to what happens in the LoL match.
As such you will need to keep an eye on the progress of the game to know when the live LoL odds are worth betting on. Many people will enjoy betting on live LoL Academy odds as these can often be better value.
For example, you might not be able to get much of a return for betting prematch on a clear favourite. But if the underdog managed to win the first map, you’d find that the live match-winner odds for the favourite would be much better value.
Who has the best LoL live odds?
Nearly all esports betting sites will give you a great way to bet live on League of Legends. Given the constantly changing nature of live odds, it can be tough to figure out which bookmakers give you the best value for your in-play LoL bets.
But we have found that the GG.bet and Pinnacle LoL odds are consistently competitive regardless of whether you are betting live or prematch. Plus you should remember to use our comparison table that will instantly reveal the bookmakers with the best LoL odds in real time so that you can be sure of getting value for your bets.
Which esports tournaments have the best LoL betting odds?
There is little doubt that it is the massive League of Legends tournaments like the LoL Worlds Finals that tend to get the greatest amount of attention from the bookmakers. This is because it is these tournaments that tend to attract the largest number of gamers who want to bet on the action.
As such, you should find that bookmakers will be willing to cut their betting margins for events like LoL Worlds, and you could pick up some very competitive esports betting odds. But whether you are betting on the World Championship, the Mid-Season Invitational, the LCS or the LEC, you should be able to find a bookmaker who will edge ahead of its rivals in terms of putting on good value bets. Don’t forget that many bookmakers will also put on special offers and bonuses that can give you a helping hand in making some decent wins from these LoL competitions.
How odds work when betting on LoL streamers
If you like streaming esports and in-play betting, then you will definitely give Twitch betting a try. This gives you a great way to bet on streamers and it’s a fun alternative to betting on regular esports matches.
This is because you won’t have to wait until that big esports match to put your bets down. After all, there are always streamers playing somewhere in the world, and many innovative bookmakers will now give you the chance to bet on the success of these gamers’ gameplay.
We should also note that some bookmakers like Unikrn will even give you the chance to bet on your own gaming. Simply by using the Unikrn UMode, you’ll find that the bookmaker will set you odds for playing LoL, and then you get to see if your gaming skills can help you make some decent wins.
What about League of Legends fantasy betting ?
Many people love to try fantasy betting at places like the Draftkings esports betting site. However we have to note that this a little different from using regular betting odds. This is because you’ll be assembling your ultimate League of Legends teams while aiming to stay under the salary cap. As such there will be no odds involved in your LoL fantasy bets. But it’s still wise to get a good understanding of the basics of how betting odds work.