Best eSport odds exhange sites listed
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With the possibility of creating your own odds and guaranteeing a profit by being allowed to bet on opposite outcomes, using an eSports betting exchange is becoming an increasingly popular way to bet on eSports. Therefore we at eBetFinder have gathered and reviewed two of the best ones; one with a long history in betting and one eSports focused newcomer that is determined to become the ultimate eSports betting exchange online.
What exactly is an eSports betting exchange?
An eSports betting exchange is a platform where you’re solely betting against other users instead of betting against the bookmaker, which is the way traditional eSports betting works. The operator will pick out the matches, but instead of providing the odds like they normally do, you and other bettors will be the ones deciding these. This gives you two options to bet on:
» Create your own odds and hope that another player will give you action on these (bet against you)
» Find odds created by another player and give them the action (bet against them)
The exchange is the perfect way to take control of your betting as you’re able to decide the odds yourself and will profit from other players’ mistakes. You can even guarantee yourself money by placing a bet on opposite outcomes, which usually isn’t allowed with traditional eSports betting. To further understand this and how the eSports betting exchange works, let’s take a look at “backing” and “laying” – two important terms that you need to familiarize yourself with.
Backing and laying a bet – this is how exchanging eSport odds works
Differently from traditional eSports betting, the exchange does not only allow you to place a bet for a team to win, which is known as backing, but you can also place a bet for that same team NOT to win. This is called laying. The fact is that every bet placed on an eSports betting exchange needs to have one person backing it and another person laying it. That’s how you’re betting against each other.
» Let’s take an example of this «
Fnatic and Astralis are competing in a match of CS:GO. You believe Fnatic will win so you’re backing €10 on them at 1.40 in odds, which you have decided yourself. This would leave you with a €4 net profit if they win.
However, for any action to happen another player has to bet against you for that €4 as this will be the money you could potentially win. Remember, there is no bookmaker that will pay you. All the winnings always come from other players.
What this means is that someone has to be laying a bet of €4, which means that they are betting on Fnatic NOT winning. This is happening at an odd of 3.50. Why this odd? Because if the person laying wins he has to get the €10 you were backing and this only happens at this particular odd.
» Backing: Bet €10 to win €4 (€10 * 1.40 = €14, which is a €4 net profit)
» Laying: Bet €4 to win €10 (€4 * 3.50 = €14, which is a €10 net profit)
Should you have chosen an odd of 3.00 instead (giving you a possible net profit of €20), the person laying would have an odd of 1.50 as he would have to bet your potential winnings of €20 for a chance to win your bet of €10.
Does this mean that someone laying can’t bet whatever they want?
Not at all! The eSports betting exchange is very flexible and works the exact same way both ways. No matter if you’re backing or laying you can always choose whatever odd you would like and whatever amount you want to put down. Action is however never guaranteed, but there are three things that can happen with a placed bet. They can either be matched, partially matched or be left unmatched.
Matched, partially matched and unmatched bets
A matched bet means that another player has bet against you for the full amount and you’re now competing against each other.
A partially matched bet means that another player didn’t stake as much as you did and therefore you’re only competing for the amount the other player was putting down. In our earlier example with Fnatic and Astralis this could mean that someone was only staking €2 instead of the €4 that you requested to win. As a result the laying odd will still be set at 3.50, but instead of you betting €10, you will now only bet €5.
When a scenario like this happens your bet will always be split into two; one that is fully matched and one that can be matched by someone else. This means that your remaining €5 could still be matched by another player staking €2 at an odd of 3.50.
An unmatched bet is a placed bet that received no action at all. Perhaps the odds were set a little too much in your favor? When this happens your stake is always fully returned.
Navigating the eSports betting exchange
Using an eSports betting exchange can be a bit confusing at first, but is very easy once you’ve come to understand how it fully works. To do so you need to know what is presented to you on the platform as you won’t find a list of every single odd that someone has created. At best you’ll find a couple of different ones, but sometimes you’ll only see one.
Sounds confusing? It’s not! The odds presented will always be the best that one or several players have currently staked and beneath the odds you will find the total amount that you and other players can bet for that option. Unless you want a worse deal than you can get (which you of course don’t), this is all you need presented to you.
By using an exchange for eSport odds you can secure a profit
Sounds too good to be true? Well, it isn’t! One of the best things about using an exchange for your eSport odds is that you can place as many bets as you like and you can place them on two opposite outcomes. If Fnatic and Astralis are playing against each other, you can either bet on both teams to win or back and lay the same team.
The beauty of this is that the odds at an exchange can shift quickly and that you’re able to decide them yourself. So by picking the right ones or choosing them yourself you can have it in a way that regardless of the matches’ outcomes you will make a profit.
» Let’s take an example of this «
You’re backing a €5 bet on Fnatic to win at an odd of 1.70 and you immediately get action on this.
Possible win : €17
Ten minutes later you find that laying odds on Fnatic are up to 3.40 so you place another bet of €5 for the same team not to win.
Possible win: €17
Now you’ve risked a total of €15 and no matter if Fnatic is winning or losing the match you will make a total of €17, guaranteeing you a €2 profit.
You may ask how likely it is to get action on odds like this? For pre-match bets we would say that it’s quite rare, but if you’re betting live chances can be really good as changes to odds can happen very quickly to reflect how the match is going.
Before the match started, Fnatic might have been expected to have a 60% win chance. 1.70 would then be a fair odd to give them. However, if it turns out that they’re playing amazing and crushing Astralis, their win chance would quickly rise. This would also increase the laying odds as losing the match would be very unlikely and with this you could easily get your 3.40 bet for a guaranteed profit.
You will never get limited by using an exchange for eSport odds!
In addition to the possibility of having a guaranteed profit, a huge benefit of using an eSports betting exchange is that your account will never become limited. As you may or may not already know, those winning a lot can have their maximum bet sizes limited to a very small amount at traditional bookies. This forces punters with a really good win rate to change betting sites at a regular basis as they can’t keep betting with just tiny limits.
This type of punishment, which undoubtedly is a questionable one, doesn’t exist with an eSports betting exchange as the bookmaker isn’t suffering from any losses – only other players are and they sure can’t limit you.
What games are available to bet on at an eSports exchange?
This can vary greatly from one exchange to another, but those we have currently seen offered are the following ones:
It should however be said that the most popular games, such as Dota 2, CS:GO and LoL are by far the most common ones and if you’re looking for action on any other games, traditional betting may be a much better option; at least for the moment.
The same can be said if you’re looking to bet on anything other than match winner or looking for a particular match to bet one as the eSport betting exchanges have quite a limited selection right now.
Is there any downside to using an exchange for eSport odds?
Not many, but there are a few things you should be aware of. The most important one is that a small commission fee will always be taken by the bookmaker as a way for them to make a profit. This can vary from one betting exchange to another, but usually it’s around 5%. This will only be debited on the net profit that the winner makes and never on an unmatched bet or a losing one.
Let’s say that you’re betting €20 at 1.50 in odds and win a total of €30. The 5% commission will then be taken from your net profit, which is €10 and your final net profit will therefore be €9.5. If you were betting the same amount and lost, no additional fee would be debited from you. Only the winner has to pay.
Another downside to using an exchange for eSport odds is that the action is limited to the number of users on the exchange. If there aren’t that many people using it, it may be hard to get your bet matched, which is never the case with traditional eSports betting as the operator will always give you action.
Last but not least, you won’t find as many matches, markets and games offered on an eSports betting exchange as you will with traditional eSports betting sites. This will surely change in the future as betting on eSports through an exchange is quite a new phenomenon and as it grows in popularity so will the coverage.
Frequently asked questions
❔| Which eSports betting exchange has got the lowest commission?
This actually depends on where you’re from. At Vie.gg all bets have a 5% commission no matter your location. At Betfair, on the other hand, it’s only people living in UK, Ireland, Italy, Gibraltar and Malta that pay a 5% commission. The majority of countries have to pay a fee of 6.5% whereas a selected few have to pay 7%.
At Betfair you are however collecting betfair points when you’re betting on the exchange which will give you a 2% – 60% discount on the commission. The more points you got, the greater the discount. For most countries (those with a 6.5% fee) a 23% discount is required to beat the commission at Vie.
To reach this discount a total of €2100 has to be taken as a commission fee in exchange bets, which means that you need to wager quite a lot before you reach a level where Betfair is the better choice. If you’re placing a huge amount of bets or stake high amounts it will however pay off in the long run.
❔| How many points do I get at the Betfair exchange?
You will earn 1 point for every €0.1 that is taken as commission from a matched bet (no matter if lost or won). 1000 points are required for a minimum 2% discount, 7000 for a 10%, 17000 for 20%, 29000 for 30%, 49000 for 40%, 80000 for 50% and 150000 for a maximum discount of 60%.
❔| Should I be laying or backing my eSport bets?
It actually doesn’t matter as they both work the same way. However, if you want to make the most profit and get the best excitement out of the exchange, we recommend staying up to date with the odds and place both backing and laying bets.
❔| Can I cancel a bet on the eSports exchange?
Yes, as long as it hasn’t been matched by another player. If the bet is partially matched, the matched amount of your bet can’t be canceled, but the remaining amount can.
❔| Why should I use an eSports betting exchange?
You can get better odds, make a guaranteed profit and your account will never be limited because you’re winning too much.