Esports betting is fast becoming one of the hottest gambling markets out there, but as the market evolves so does the terminology used when betting. For education’s sake, we’ve compiled a list of some of the most commonly used esports betting terms to ensure you know your match bet from your bankroll.
Your Bankroll is the amount of money you have available to place bets on League of Legends tournaments. It goes without saying that the more cautious you are with your bets the longer you’ll keep hold of your Bankroll.
Tier is an esports betting term you’re likely to hear a lot. Each team or player is divided into tiers to differentiate between their skill levels. The Tier 1 teams are rated the most highly and will often have lower odds to reflect their abilities.
This is the most basic type of bet offered and involves you placing a wager on a team or player that you think will win a single match. These bets are popular with bettors because they know whether they have won or lost their bet after just one game rather than waiting until a series of games are played over a period of time. Because of their simplicity they often offer smaller returns.
Odds on Outright Bets are also commonly found on League of Legends betting sites, but unlike the Match Bet that focuses solely on the outcome of one game, Outright Bets are cast on who you feel will win the whole tournament. Because there are multiple matches involved in the success or failure of an Outright Bet, the odds are usually much higher than you would find for Match Bets. The chances of success are also slimmer. If you are considering placing an Outright Bet it’s best to do so before the tournament begins as the odds will lower with each passing round.
Accumulator Bets are commonly found in LoL betting and are a great option if you find that Match Bets and Outright Bets are offering poor returns. With Accumulator Bets you can add two or more bets together in the hope that they all win. Each bet, or leg, works co-dependently with the other bets. Just one loss in the accumulated bets means you have lost your initial stake. They do however, have much higher rewards if they pay off.
These are an interesting type of LoL bet that strays into the world of fantasy betting to even up what should be a one-sided match. During a Handicap Bet you place a wager based on what you feel the match outcome would be if one of the teams had a map advantage over the other. This alters the odds for both team and makes the wager more interesting. The odds are always displayed on esports betting sites with a (+) for the team with an advantage and a (-) for the team with a disadvantage.