Understanding The Basics Of Understanding Cricket Odds

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Introduction

The betting world is growing tremendously all over the world. The users of betting websites and applications are increasing every day. And, if we talk about cricket betting, numbers are uncountable. Earlier, betting was known to be an illegal term. As, the awareness of those was not spread properly. Now with license and registration of bookmakers makes it not just fun but keeps the legal side check. Moreover, the wide options are much easier to use.

However, the betting is not as easy as it seems. It is not merely a game of luck. The crucial role of cricket betting odds is still unknown to many.

So, are you a fan of cricket betting? If yes, you are at the right place. We are going to discuss about the betting odds which can help you to enhance the winning probability.

Why is it important to understand cricket odds?

Before we proceed deeper about the cricket betting odds. Let us first understand the reason and logic behind learning the betting odds. The very simple and obvious reason is that the understanding of those odds will assist you greatly while betting. They adversely affects the outcomes of your bets.

Also, not everyone can easily as well as correctly read the odds. But, once you do, it will be much easier to decide how much money and on whom you would like to bet on.

Another advantage of going through the cricket betting odds is figuring out about the value bets quite easily.

Now, you might be thinking that how difficult it would be to understand betting odds. The thing is, different bookmakers are prone to certain factors, which leads to different cricket betting odds.

Therefore you must go through those various odds prior to placing the bets.

Basics of Cricket odds

The most basic thing you must know about the betting odds are, most of the time they are in fractions. You might have heard a punter saying about the bet odds such as three to two or four to one and likewise. What exactly does that mean? In cricket betting odds language, three to two means you will get INR 150 for each INR 100 you bet. Similarly, as per four to one, you will get Rs. 400 for every Rs. you bet i.e. four times your bet. This is of course excluding the original betting amount.

Along with this, you also need to understand that these are actually the probable result of a match. As per above, four to one means the team has the probability of winning as four out of five. Yes, that is pretty high.

Understanding about decimal odds

Now there is another thing that revolves around cricket betting odds is the term ‘decimal odds’. It reflects the probability of the outcome of a cricket match. So, as per the rule of probability, it is directly proportional to the winning chances. Like, if the probability is high, most probably the team will win and vice versa. Those are according to the bookmakers.

Let us take an example to understand it more precisely. Suppose the decimal cricket betting odds as per a bookie for your team is 0.8. It means that the team has an 80% chance of winning. And, you can bet on it. Likewise if the decimal betting odds are 0.4 then the chances are just 40%. In short, it tells us how likely the particular event will take place.

On the other hand, you must not forget that bookies have the mindset of all about earning from those bets you make. And, setting the bets are in their own hands. Thus, they set it to play with the minds of bettors. With better odds, more people will come to bet. Therefore, remember that those can not always be accurate but still a useful asset while considering all factors.

For instance we have two teams, i.e. Team A and Team B. The decimal odds for both are 1.85 and 1.65 respectively. Now to calculate the returns, you just multiply your amount of betting with the odds. Such as, if you bet INR 200 on team A, then on winning you will get 200 times of 1.85, which is Rs. 370 and plus your origins bet.

How does cricket betting odds change?

If you are on this page, you must be a fan of cricket too. Now, when we watch a match, do we already know the outcome? Not of course. But, we are well aware about the odds about which team will win. For instance, let’s say there is a match between England and Ireland on the pitch of England, we assume that England is definitely going to win. But, the unpredictable nature of cricket sometimes makes our assumption to change during the match.

Let us make it more clear with the example of one of the World Cup elimination matches between Bangladesh and England. Everyone was almost sure that England was going to eliminate the opponent. Surprisingly, things turned out to be in favor of Bangladesh. The batting duo lead the team to an unforgettable win. Thus, we can say that odds keep on changing.

There is a similar case with cricket betting odds. It keeps on changing as the match continues. There are multiple factors affecting that.

The very first thing is how the team is performing. It is quite obvious if the team is playing extremely well, the betting odds will be low. However, if the team is in a struggling stage then bookmakers want the people to bet on them more. Thus the odds are high.

Another factor is the length of a match. As, test matches are five days long. And, during such a long time there could be a lot of things to change. Enough variables to make the odds high. But in short format cricket such as T20 matches, there is not much probability of things changing drastically. Thus, betting odds for those are lower than others.

Lastly it’s the bookmaker’s method of calculating and fixing the odds accordingly.

Types of Cricket bets

Before going through this part, make sure you are well aware about the betting odds. Knowledge is the key. But if you have confidence to proceed, let’s get into the types of cricket bets. Betting is not limited to any scope. There are way more types of cricket betting than you can imagine. In fact, bettors do it on almost everything. Let us discuss a few.

The very obvious one is the winning or losing of a team. This is the most simple yet stressful to predict. And, once you made the bet. The excitement with every ball increases. Also, the longer the format of the match, the more impatient you will become.

Another way to bet is to guess who will score the highest or which bowler will take maximum wickets.

There is one of the most interesting cricket bets prevailing in online cricket betting. The applications like Dream11 did change the whole market of cricket betting. The number of bettors are massive in numbers than ever.

So, as per that, the users build their own team by combining the players from both playing teams. There is a point system with each run you score, with every six and four. Also, there are additional points for the wicket taken by the bowler you choose. There are negative points too when the player gets out on zero. Similarly the rank of team goes down when a bowler does an expensive over.

The bets can be one to one, one to many, and likewise. You can even build your own betting group too. Thus, it is up to the bettor that how much and at what he or she wants to bet on.

Important tips on Cricket Odds

Though by just reading you might not be completely aware of all the factors about betting odds. Still, it will give you an edge over other bettors.

Following are a few of the betting tips to aid you even more.

  • Firstly, never ever choose the bookmaker randomly. You must research about the odds different bookmakers provide. And yes, different bookmakers give different odds. So just select the one with the best odds.
  • Another thing to focus on is what odds a bookmaker is offering. You can use a trick to win for sure. There are times when two bookmakers provide higher odds for opposite teams. For instance, there is a match between India and Pakistan. There are chances that two different bookies might give three to one for India and the other one is offering the same odds for Pakistan. Thus, you can bet on both and no matter what the outcome is, you will definitely win. Just make sure the odds are higher than what you are betting.
  • Here is another useful tip. You must never be afraid of betting on a team with weak performance. As we earlier said, the nature of cricket is never predictable. Thus, there is always a chance that the team will turn out to be a winner. And, of course it will give you a great income.
  • Always keep a check on the playing eleven team. There are situations when there is a last minute change. Just like in the Indian Premier League, the final team list is made public just an half hour before the match begins. However, when you are sure about the players, then make the bets early with the higher odds.

Conclusion

To cap it all, we can see that the odds of winning and losing always seem to vary. As there might be a star bowler who takes a hat trick during a crucial stage and brings a win to his team. In fact, there are times when we have seen a last ball six making the team a memorable victory. There is such an incident that took place during the Asia Cup match between Indian and Bangladesh. Where Dinesh Kartik did hit a huge six against Bangladesh at the very last ball. Lots of bettors might have lost their money that day.

With incidents like those, betting odds needs a keen study along with the team’s performance in last matches. Dig out the details about the ground too. And, look if the batting and bowling style of both teams are according to the pitch condition.

There is an easy way too. Many of the cricket experts share their prediction about the match, beforehand. And, there are quite a few times when they are accurate to the results. But of course, do not rely on them completely. Do your own study too.

Lastly, thanks to all the readers for being on this page. Hope you did find something new and useful today. Do not forget when you win huge. Will be back with more of such content. Wish you luck.