Cricket is immersed in the culture of India, and as a result, it is by far the most popular way of entertainment in the country. In the modern age, cricket’s popularity is maintained thanks to the leading sports channels in India, which promote it regularly.
With cricket all around them, it is very exciting for Indians to bet on the sport. But before you rush to place a bet on a cricket match, there are some things you should know about the basic element of betting on cricket, the cricket betting odds.
Before we start talking about odds in cricket matches, we will talk about betting odds in general.
The bookmaker presents the chance of a certain result happening in a sporting match in the form of odds. The chance is calculated in percentages and represented in the form of odds. The most common odds used by the betting sites are:
- Decimal odds
- Fractional odds
- American odds
Decimal odds, or as some people refer to them European odds are an odds format commonly used on European, Australian and Canadian betting sites. They represent the amount of the base that is multiplied by the stake.
We can calculate them in the following way:
For example, India plays Australia in a cricket event. The odds for India are 1.50 and you bet INR 1,000. To calculate your winnings in the case of India’s win you need to multiply your bet by 1.50.
1000 x 1.50 = 1500
For a winning bet, you will get a payout of INR 1500.
Fractional odds or the UK odds are mostly used by the UK betting sites. They represent how much of your stake you will win for a positive outcome of your bet.
We can calculate them in the following way.
For example, we take the same match India vs Australia. The odds for India are 2/1 and you bet INR 1,000. To calculate how much you are going to win in the case of team India victory you need to multiply your bet by 2 and add your stake.
1000 x 2 + 1000 = 2000 + 1000 = 3000
Moneyline odds are also known as American odds. They are an odds format mostly by the US bookmakers. They are made of two odd types: odds for favourites and odds for the underdogs. Bettors can make a distinction between the two types based on the sign put before the odds. The odds for favourites have the sign minus.
If you are betting on the favourite, the odds that you see represent how big of a bet you need to place to win 100 USD. The odds for the underdog represent the amount of money you will win for every 100 USD in your bet.
For example, if we again take the same match. India is a favourite with the odds of -200 this. To win 100 USD betting on the victory of India, you will need to place a bet of 200 USD.
Cricket betting odds
The mentioned formats are used by cricket bookmakers and represent the chance of something happening in a cricket event for example a chance of one team winning a cricket match.
Punters can find out what chance of winning a certain team has according to a bookmaker by visiting the bookmaker’s website and looking in the cricket section for the market of that cricket match. These odds can have different values depending on the betting site, time, and recent news.
Aside from offering odds for the winner market, bookmakers also offer odds on all kinds of cricket markets. Markets like who will have the most runs, who will take most wickets, who will be the player of the match are all available for punters to bet on.
How to find the best cricket betting odds
To make a profit as a cricket bettor, you need to place bets on odds that have value. This is not an easy task, but if you implement the strategies we mention you should be able to do it. To find odds that have value you need to:
- Use sites that display odds from different bookmakers
- Create betting accounts on a number of bookmakers
Sites that display odds from different bookmakers
Third-party sites are used by punters to gather information about odds. Third-party websites gather information from various betting sites and display it all in one place.
These sites represent a perfect way for bettors to make easy odds comparisons and decide which cricket odd has value and which doesn’t. This method allows them to save time and energy.
Creating betting accounts on a number of bookmakers
To make use of the sites that display odds from different bookmakers you need to have betting accounts on different bookmakers. This will allow you to immediately place a bet on a certain bookmaker without having to create an account first.
Betting on cricket is a great way for Indian people to add additional excitement to their daily ritual of watching cricket. But before you start betting on cricket, you need to have complete knowledge of the odds involved. Good luck, and remember never bet with the money you can’t afford to lose.