Cricket betting odds are a means of calculating what happens in a match to improve the winning chances of a bet. While usually recreational bettors find this unnecessary, pro and advanced players see it as a means of making a little extra something along the line. This article aims to explain what cricket betting odds are, the types that exist and how you calculate betting odds to help you win your next game.
If you’re new to betting on crickets, odds is a word you’d be hearing a lot. And that’s fine. To win bets, you need odds because they forecast how a game will pan out. It’s observing both past and future matches, predicting the pitch, players, and fields’ outcome to develop an avid description of what a cricket game is.
Cricket betting odds are crucial because constantly calculating and comparing them helps understand what happens to the amount you’re putting at stake. You know whether a bet is valuable or not before going ahead with it.
So if you don’t know how to calculate odds, it decreases your chances of taking informed risks. Ready to boost your winning bets on cricket betting? Let’s further explain how you can use betting odds to your advantage.
When you go on a betting site and want to place a bet, you need to understand how to read their cricket betting odds.
In sportsbooks, there are three types of cricket betting odds. You’re allowed to choose one. Whichever one you choose has to be understandable and comprehensible to you.
The three types of Cricket betting odds are Decimal, Fractional, and American odds.
Although many people say that they prefer decimal odds because it’s easier to read, we think you should see all three and choose which one appeals best. So here goes;
The decimal odds is the one type of betting odds you’ll find on every betting site. What happens here is that you convert every probability to percentage.
The formula for calculating decimal odds is
Stake x Odds = Profits.
In an international cricket game featuring Australia vs. India, with Australia hosting the tournament. Here are the odds set for the third day
Australia to win: 2.25
India to win: 15.00
Now judging by these odds, you can see that the most favorable result will be a draw. And that’s because it is what is most likely to occur, so the odds are low. Closely followed by it is Australia to win. Then the unlikely occurrence of India to win. The odds are higher because, in this match, they are the underdogs.
So let’s say you stake $30 on this bet. Here’s what your returns will look like;
Australia to win — 2.25 x $30 = $67.5
Draw —– 1.50 x $30 = $45
India to win —- 15.00 x $30= $450
From the payout, it is visible that India is more valuable than its opponent. However, the odds pointed in favor of a draw or Australia to win.
If anyone bets on India and they come out victorious, it means they got a significant win. And if you bet on a draw or Australia to win, you also get success, just not as betting on India to win. While an underdog can win the event, it doesn’t happen very often. So it isn’t intelligent to always back the underdog of a match.
The more you stake, the higher your chances of winning. For instance, if you bet $70 on a draw, your returns will be 1.50 x $70 = $105, which is $60 higher than what you will get when you stake the initial $30.
So this is decimal odds. Pretty straight forward huh?
The American odds are pretty straightforward as well. It is the type of cricket betting odds used in the United States.
Unlike decimal points, American odds use whole numbers, and there’s always a + or – sign in front of the odds.
What do these signs mean?
The minus (-) sign means you’re betting on the favorites, and It connotes lower odds and a not-so-high profit.
Plus (+) sign, however, means that you are betting on the underdogs. And so higher odds, higher profit. Let’s see a real-life example.
Pakistan to win: +120
India to win: -140
Now how this works is; in Pakistan, to win, which has the + sign, you have to bet $100 to win the amount shown ($120).
Whatever shows as the odds is what you get as returns when you bet with $100.
On the other hand, India to win, which has the – sign, simply means that you have to bet the amount shown (140) to get a return of $100.
See, pretty straightforward, right? What to note here is that you place a higher stake when you bet on the favorites than when you bet on the underdogs. The American odds are just conditional logic. Once you grasp a complete understanding of what the + and – sign means, you are good to go.
Fractional odds are used mainly in the United Kingdom. As the name implies, it works with fractions. So what you’ll see is something like 3/1. It simply means for every 1 unit you bet, and you get 3 in returns.
Let’s see an example; If the odds for a game reads
India to win 3/1
When you stake $10, you’ll get $30 as your return.
That’s it. The more you stake, the higher your return.
However, if the odds are infrared like 1/3, it simply means that the chances of your outcome are improbable. And so you bet more to win just an extra unit. So you stake $30 to get an additional $10 return.
Now, most betting sites come with their betting odds. They are usually competitive and vary slightly. The key is in finding the best odds. You do this by researching the bookmakers of your choice. Say, for instance, you’re conflicted on whether to use Cricket betting online or 1xBet. What you should do is look into the odds for both sites. For a game like, say maybe England to beat Australia, Cricket betting online might offer 2.50 odds while 1XBet will be 2.00. They are both excellent odds, but they slightly vary. In this case, you’d want to go with Cricket betting online.
Another tip to use when finding the best betting odds is to note that one bookmaker’s odds aren’t consistent. That it’s higher in one game doesn’t mean that it will consistently be higher in others. So, be sure to check and compare prices for every single game to get the best possible odds. Also, maybe don’t just stick to two bookmakers every time. Constantly check others to know what the average rates are and how they rank in better odds.
One final tip is that cricket odds can change during a match. So be sure to watch the game and keep track of current changes happening to your bet.
Whether American, fractional, or decimal betting odds, the key is finding what works for you and what you understand best. It’s what determines how you place your bet or what you stake.
So now that you understand how betting odds work, you can choose odds that’ll give you winning returns.