What eSports Pool Betting
eSports pool betting is a betting platform which is based on the ‘player performance’ markets. As a player performance market, bettors who place bets at betting sites that use the eSports pool betting platform will be betting against other players rather than betting against the house. The concept of house edge thus does not apply to betting sites that use the pool betting platform.
How does eSports Pool Betting Work
eSports pool betting functions in almost the same way as the pari-mutuel betting platform which is the traditional horseracing betting platform. What this means is that when the bettor places a wager (often, the wager is fixed for same market bets while in some instances, a minimum wager is set), the money that he uses to place the wager is placed in the ‘betting pool’. This betting pool will in essence hold all the wagers that have been placed by bettors who are vying to bet on the same match.
As the start of the match nears, betting will be closed for all bettors. Once done, the gambling house will proceed to count the money that has been placed as wagers and then proceed to count the number of players who have placed wagers. Using mathematical formulas, the gambling house will come up with odds (better known as dividends as these will be shared by winners only) that correspond directly to the total amount of money wagered coupled with the total number of bettors who have placed wagers.
At the end of the match, bettor’s with winning stakes will receive an equal share of the pool according to the odds calculated; this is if they selected the same betting market.
As there is no house edge, the betting site does have to employ some strategies to remain commercially viable and to remain afloat. On this front, the betting site will remove its commission from the pool before any payouts are made.
Where can you bet on eSports Pools
At the present moment, bettors looking to try out the new Sports pool betting platform can only settle at Puntt as it is the only regulated eSports betting site that is running the pool betting platform. Puntt is a startup that is part of the RPGG Media Group. Puntt is still in its infancy stage and as such, bettors can only engage in CS: GO betting at the current moment. However, the betting house has already demonstrated its ambition to expand its operations saying before the end of 2020, DOTA 2 pools will be put in place.
Advantages of eSports Pool Betting
- Potential to win big from a small stake
Pool betting by its nature entails pooling together the stakes of all players and afterwards sharing the winnings from correct bets. This therefore gives an opportunity for the bettor to win big from a small stake in comparison to other betting types that come with fixed odds.
Disadvantages of eSports Pool Betting
- Not lucrative when participants are few
eSports pool betting does not pay well when the participants are few. In order to reward bettors handsomely, it’s imperative that a high number of participants place their bets. This in turn will translate to higher winnings for those who end up as winners. The betting site therefore has a challenge of attracting many bettors for any pool opened.
- Bettors don’t know their exact expected return
Before engaging in any betting adventure, many bettors prefer to structure their bankroll by basing on the odds available. Unfortunately, this is not possible when it comes to pool betting as odds are only displayed (if ever) after the bet has been placed. This therefore leaves an element of uncertainty.
Using the pool betting platform for eSports at best can be termed noble as it allows bettors to independently wager and compete among themselves. this in turn also allows them to expect higher returns when they win as the betting house only takes a small commission for itself with the whole pool up for grabs by those who make correct predictions.