ESL One Raleigh: All the teams, favorites, and outright betting odds

The next big date on the Dota 2 calendar is April 7, 2025 for the start of ESL One Raleigh; but which teams are competing in the event and who is the favorite to win?

It’s been a long time coming but Dota 2 is set to return to North American shores. The last time a major LAN tournament was held stateside was The International 2023, and the last prominent non-TI event was the PGL Arlington Major in 2022. Those who live on the east coast of the USA need to look all the way back to the 2016 Boston Major.

ESL One Raleigh is offering up $1 million to teams, and bettors can get in on the action in advance by considering the tournament winner outrights. But which team is the favorite to win ESL One Raleigh, and who else is worth considering?

TUNDRA vs TEAM SPIRIT – GRAND FINAL – DREAMLEAGUE SEASON 25 DOTA 2

ESL One Raleigh teams and outright winner betting odds

ESL One Raleigh will have 12 teams competing including top-ranked squads Team Spirit, Team Liquid, and Tundra Esports. While each team hypothetically has a chance of winning the tournament, those chances aren’t equal.

Here are all the teams competing at ESL One Raleigh, and the handicaps on their chances of winning the event:

• Team Spirit (4.0)
• BetBoom Team (5.0)
• Team Falcons (5.5)
• Tundra Esports (6.6)
• Team Liquid (8.0)
• Team Tidebound (10.0)
• Parivision (11.0)
• Team Heroic (16.0)
• Nigma Galaxy (21.0)
• Talon Esports (25.0)
• Avulus (35.0)
• Shopify Rebellion (51.0)

Parivision, BetBoom, Team Falcons, and Team Liquid were all given direct invitations by ESL based on their standings in the ESL Pro Tour. Past that, qualifiers were held in all major regions and MESWA.

ESL One Raleigh continues what has been a hectic first half of 2025 for Dota 2 fans. The good news is that this means that bettors have lots of data to work with.

TUNDRA vs TEAM SPIRIT – GRAND FINAL – DREAMLEAGUE SEASON 25 DOTA 2

Why is Team Spirit the favorite to win ESL One Raleigh?

Team Spirit has been able to enjoy consistent success in Dota 2 for four years. While some top teams come and go, Spirit has been at or near the top since its surprising victory at The International 2021. The team’s victories became significantly less surprising over time.

The team has maintained the same core roster since 2020. Since that TI10 victory, it has notched many first-place finishes in big events and loads of high placements in others. The most recent came just last month, with the team winning DreamLeague Season 25.

Who else could win ESL One Raleigh?

Team Spirit is regarded by many as the best Dota 2 team in the world, but it isn’t the smothering force that Dota 2 fans might think. Team Spirit does win big tournaments, but it falls short most of the time. It’s also not above an early elimination in some cases.

While Team Spirit is the favorite to win ESL One Raleigh, there are several others that could beat them.

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Tundra Esports started the year in emphatic fashion by taking first place in BLAST Slam 2 and Fissure Playground 1. More recently, Team Liquid won PGL Wallachia Season 3. The last big Dota 2 tournament was Fissure Universe 4, which was won by BetBoom Team.

Alongside them, Team Falcons is becoming a thorn in Team Spirit’s side. The European squad took wins over Spirit in both PGL Wallachia 3 and Fissure Universe 4. Any of these teams could potentially win ESL One Raleigh.

Those looking to take a deeper shot can check out Parivision and Team Tidebound. Parivision won ESL One Bangkok in December and took third in Fissure Playground 1 and DreamLeague Season 25. Meanwhile, China’s Team Tidebound could be ready to break out after placing third in Fissure Universe 4.

Think you know who will win? Place your bets here!