Plenty of people are complaining about 'x demigod is unbalanced,' and many times for the wrong reason (they simply don't know how to beat them), or to an exaggerated point. Because of that, it would be nice to compile a list of good counters so that the balance of each demigod is easier to review, and so that less people complain about how oeverpowered a demigod is just because they can't beat them(although it's likely that the people complaining for that reason either don't care to learn how to beat their enemy, or are too stupid to).
The list I have compiled right here is based solely on my own experience, so it's still very incomplete. And note that, being based only on what I've seen, some of the information may be ineffective or just plain wrong, depending on the level of play. I apologize for any errors.
Lord Erebus
-Early game, pretty much any non-squishy demigod has the power to outdamage Erebus for more damage then he can heal in 1 on 1. Namely, Unclean Beast, especially since most Erebus players rarely take mist form.
-Late game Rook has a fun time against Erebus, as with enough towers, Erebus has trouble getting in range to do enough damage, while still being able to survive against all of Rook's towers AND Rook himself. Once Rook gets enough momentum, Erebus needs to either be very lucky, or catch rook at a very bad time in order to win.
-Early game, before he gets bats, Regulus can easily take Erebus down, since he has to slowly walk all the way to Regulus. Once he gets bats though, the situation starts to even out a bit, however, if Regulus can do enough damage, Erebus will likely be unable to flee in time, thanks to the long recast time of bats. Essentially, once Erebus teleports onto Regulus, he has to commit to it.
-Since Erebus' survival is reliant on his bite skill, characters like Queen of Thorns and Oak, who have skills that absorb damage, can end up killing Erebus fairly easily in the right situation, or at least forcing him to run away, as they deny him the health needed to survive, and the damage needed to kill. What makes this even better is that these buffs can be applied to anyone. Sedna's healing also allows her to stall Erebus very well, since her heal covers more then his bite, and has the same recovery time.
-By limiting Erebus' skill usage, be it through silence, draining, or stunning him, Erebus loses much of his power. Without access to his skills, Erebus loses his mobility, his survivability, and his damage, crippling him, as his stats are actually fairly low, especially at earlier levels. As such, skills like Sedna's Silence, various stuns, and Torch Bearer's Biting Chill are very useful moves against the vampire king.
The Oak
-Regulus
-Oak has troubles early game, since he doesn't have access to all his favourite tools right then and there. Despite being fairly durable even early on, he's really not that dangerous from the beginning. That's not to say he shouldn't be approached without caution, but I've found that he's much easier to kill at low levels when he doesn't have the tools he needs to be as devastating as he can be.
(I have not played enough as or against this character to know any more)
Unclean Beast
-Low health means that he's fairly easy to kill at lower levels, should you survive long enough(unlikely, but possible).
-UB's self heal is fairly weak, which means that his resiliance is pretty much limited to killing you as soon as possible. With support, or good use of healing, a UB who is tanked is dead.
-Skills like Erebus' Mist, Oak's Shield, and QoT's Bramble Shield reduce/cancel/ignore the effects of UB's Venom Spit, causing his damage damage to be reduced considerably for a short period. By using these skills as soon as he hits with the skill, it's possible to avoid any extra damage it would incur.
(I have not played enough as or against this character to know any more)
Torch Bearer
-With his low health, Torch Bearer is a fairly squishy demigod. This makes him an easy target early on, since he's easy to kill. Combined with his average movement speed, he has a hard time against faster demigods.
-Lacks any form of self heal, so he's unable to survive in prolonged combat. This can be offset by potions, but with the casting time associated with them, he's likely to die if he stays in combat to use them. As such, he needs allied support to really push forward.
-Similar to Erebus, TB's highly dependant on skills to do much of anything. However, unlike Erebus, he doesn't need to be in melee range to fight, so the situations where you'd be vulnerable are less devestating.
(I have not played enough as or against this character to know any more)
Regulus
-Lowest health and armour in the game, Regulus dies to anything that sneezes in his general direction. If you can get into combat with him, so long as you're not already half dead, your chances or survival, or even a kill, are pretty damn good.
-Regulus' slow attack speed and close range effectiveness of his skills is fairly... lacklustre. Because of this, he's at even more of a disadvantage at close range. Since close combat usually means death to poor Reggie, he's very vulnerable to sneak attacks.
-Similar to Torch Bearer, Regulus lacks any form of self heal. This is even worse for Regulus because his durability is even less then TB's.
-Similar to Erebus, Reggie is dependant on skills to be his most effective. However, unlike Erebus, he doesn't need to be in melee range to fight, so the situations where you'd be vulnerable are less devastating.
(I have not played enough as or against this character to know any more)
Rook
-If you havn't already noticed, he's really, really slow. Catch him in a bad position, and he'll need a lot of luck to get out of it alive.
-Early game, rook tends to lack any of the abilities needed to go head to head with other demigods. If you can manage to hunt him down early on, it might be worth your while to do your very best to shut him down as much as possible, If you keep him dead long enough at the periods where he's weakest, you might just do enough to keep him at a much weaker state then you are throughout. This is very important, since once a good Rook gets up to speed, he can seem almost unstoppable.
-Rook's low speed and lack of long range attacks makes him vulnerable to ranged characters like Regulus, and to an extent, torch bearer(although arrows and towers help him quite a bit in this).
(I have not played enough as or against this character to know any more)
Sedna
-Early game, Sedna lacks the mana to effectivly damage and heal at the same time. Use that to your advantage by forcing her to heal, and she'll have to run or die, since she lacks the mana pool to heal more or hurt you.(thanks woppin)
-Mid game, Regulus and his Mark of the Betrayer almost negate Sedna's healing abilities, and his range keeps him from being hurt by her. With speed buffs, Regulus is the perfect Sedna harrasser.(thanks woppin)
-Despite the fact that Sedna's an incredible tank when she has her heals and high health regen, she's very fragile without them. Us this to your advantage by taking stuns to give you openings where she's unable to heal herself, and coordinate your attacks to cause large spikes of damage. Sedna resists pressure very well, but against stuns and spikes, she's a fairly quick kill.(thanks woppin)
-Mid-to-late-game, focus on outpressuring her, and just go for DPS. Although Sedna can deal with pressure very well, she doesn't have the damage output to really kill it without assistance from an ally, which means it shouldn't be *too* hard to keep the pressure up. If you're constantly hurting her, she won't be able to use heart of life to restore her mana either. Sooner or later, she'll start to run dry, and when she does, she'll either run, or you'll be able to kill her.(thanks woppin)
(I have not played enough as or against this character to know any more)
The Queen of Thorns
-Very reliant on skills and energy. Draining her, silencing her, or forcing her into a position where she has to use lots of energy will break her. This is much easier to do early on in the game, where energy is much harder to manage. (thanks Daikaze)
-Not very good in one on one fights. Despite being an AoE monster, when against powerful DGs, she doesn't have much to rely on other then her shield. Just keep harrassing her. Anyone can fullfill this job really, you just need to outdamage her.(thanks Daikaze)
(I have not played enough as or against this character to know any more)
This is just a list of what I could sum up from my limited experience. Hopefully some more of you can add more to this, as I know it's no where near complete.