Betting on CS:GO and other eSports
The CS:GO skin betting sites simply enable you to add excitement to your eSports interest by betting skins at the games you want to watch. If you know your eSports you might even find opportunities to build up a nice inventory.
Its worth to mention that these betting sites works a bit different. Some of the sites have floating odds and some sites have fixed odds. It’s crucial that you know the difference, so you don’t get surprised by this at a later stage.
A quick explanation to odds
What are floating odds?
Floating odds means that the odds might, and probably will change even after you placed your bet. This is because in the end, the betting sites want to have something called a “balanced book”. What that means is that they want to keep both the sites even.
That means that if 80% of the value of the skins bet on a match is on team1 it should pay out around 1.2 times your money in decimal odds. With that said, 20% of the market value will be placed at team2 and that would mean a pay-out around 4 times your money. This is not entirely true because the betting sites always takes out a cut, or a margin. This makes the pay-out a bit smaller that the implied odds.
Now say that this situation changes a lot after you placed your bet. Say the market now thinks that team1 and team2 have even chances to win the match and will then pay out around double your skins / credits / money. This becomes a bit sad if you placed money on team2 and thought you where going to get around 4 times your bet.
CS:GO betting on fixed Odds
Therefore, fixed odds exist. A lot of the gamblers simply want to know that the odds they placed their initial bet on is the one they are going to get paid for. The bookmaker or betting site might change their odds after your bet which means new customers will not be able to place the bet at the same odds that you did. But what’s important is that they honor your bet and if you where right and did a good prediction you will get paid what you expect. See current fixed eSports odds.
Calculating bookmaker margin or translating odds
As explained above, trying to understand odds at the first sight can easily make you feel a bit overwhelmed. Not only that there is fixed and floating odds. There are also different odds format that are used in different regions. Europe mainly uses decimal odds (the one used in the example in the previous paragraphs) while United Kingdom uses Fractional Odds. United States uses something call lines which is totally different. Sometimes it’s easy to understand your regions odds format but not the other, luckily for you there are good resources online where you can translate odds between the different formats.
Another importan aspect to understand when looking at odds are that the fee that the bookmaker or betting site charge you for betting at their site lies within the odds prices. This is very hard to grasp at first as it is not that clear what margin or rake they actually charge for a specific bet. We really recommend this tool when you want to see how much fee a betting sites charge you or when you want to translate odds between formats: https://esportbetting.eu/odds-calculators
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In the early days of skin betting, players had to use specific skin betting sites like CSGOLounge and DOTALounge, connect their steam account and bet on these sites odds.
After a lot of controversies around these types of sites some entrepreneurs came up with Skinpay, which is based on the brilliant idea to make a specific payment method where you can trade in your in-game skins & items with a trade bot, that offer you a price for your items which you can either accept or deny. If you accept the offer, you get credits in your account amounting to the price the trade bot gave you.
This is brilliant because of two things. Firstly, it opens the market for you as a customer since you can access more serious, real eSports betting sites like Betspawn, GG.BET and more. What is great with this is that you get access to better odds and more events to place your bets on!
The second thing that is great about SkinPay is that is automated and so easy to use. Since you get the price when you deposit your skins its very transparent how many credits you will get for them. Superb if you ask us!