What is Cricket betting Odds?
If you are new to the topic, you may have a question – what exactly are cricket betting odds?
The betting odds show the probability of the result occurring. For example, if a certain team is most likely to become a winner, the odds will be low. On the contrary, if the team is an outsider, the betting odds will be higher.
There are several types of betting odds, and for the most successful results of your bets, you need to understand them. These odds are represented as a fraction (3/4) or a decimal (2.0), which are popular in Europe. The American or Moneyline option has a positive or a negative sign in front of the number (-200/+150). Betting odds can be applied to almost any event. The range is very wide – from cricket which is popular in India, to eSports and even politics.
How to use cricket betting odds?
Most people start their betting career with bets on their favorite team and athletes. And this will be a huge mistake. After all, these bets are dominated not by analytics but by emotions, which is a crucial problem.
Emotions and bets for a professional player should never be in the same row, all beginners have to learn this as quickly as possible. If you take the game close to heart, you will get very upset in case of defeats and will not pay attention to the positive outcome that sports betting can bring.
- First, you should determine for yourself how much money you can spend on betting and do not raise the number at the beginning. You shouldn’t increase it even if it seems that right now is the best moment to do that.
- Find the best cricket betting site. Each bookmaker has its own offers, so you need to start with choosing the kind of sport and types of bets you are interested in. After you choose your direction, pick a bookmaker. Nowadays, the market is competitive, so for the same events in different companies, the difference can matter a lot.
Why are the odds so important?
To make a tidy sum of money on sports betting, it’s important to understand the betting odds and the main principle of their work. Studying the theory of betting, including the types of odds, their features, how to count them, will pay off very soon. After all, this information is used by both professional players and beginners. And without this knowledge, it is impossible to build the best strategy for yourself that will lead you to victories.
Types of cricket odds
There are three main types of cricket betting odds, from which you choose the most suitable one for you. These are different ways of presenting the same thing, and the payouts will not be different, for instance, for fractional and decimal odds.
Decimal or European odds
Decimal odds, which are also known as European odds, are used mainly in continental Europe, Canada. Australia, and New Zealand. They are the easiest odds to deal with, and because of this, they are becoming more and popular these days.
The decimal odds numbers show the sum of money which a person gets for every 1$ wagered. The number means the total payout, not the profit.
It is easy to calculate your payout with decimal odds:
Bet x odds = payout
To calculate winnings, you should subtract the wager from the payout.
Fractional or UK odds
This type is also known as the traditional one, and it is widely used by the largest bookmakers in the world, especially in Britain and Ireland. It has been the most preferred type of betting odds for a long time.
A fractional listing of, for example, 5/1 odds means that you receive your wager in addition to your profit. Simply put, when you wager 20$, you get this sum back and also 100$ more, which will be 120$ total (bet and profit combined).
And if you see 7/9 odds, it means that the team or a sportsman is rather popular and most likely to win. You get only $7 against every $9 wagered.
So here the formula will look a little different:
Bet + (bet x odds) = payout
American or Moneyline odds
American odds, also known as Moneyline odds, are mostly popular in the United States.
The odds for favorites have a minus (-) sign. It shows the sum you need to bet on to win $100.
At the same time, the odds for underdogs – who are unlikely to win – are accompanied by a positive (+) sign, indicating the sum you get for every $100 you bet. In each case, you get your initial wager back, as well as the amount of money you won.
When the favorite’s chances of winning increase, the difference between it and the underdog grows.
For example, if you wager $10 with money line odds of -100, the payout is $20 with a total profit of $10. If you decide to wager $200 with money line odds of +150, the payout is $500 with a total profit of $300.
Best tips to read betting odds
The punters are professionals in betting, and they have some rules which they always follow. Some of them are listed below.
- You should learn how to analyze the balance of power in at least some matches. It is not enough to vaguely know the rivals. It is best if you realize all their strengths and weaknesses.
- Find the best sports betting strategies for you and stick to them. Don’t give up on them even if you fail a few times at first.
- Read analytical reviews, informational and statistical summaries of championships, tournaments, competitions that you bet on – all this info will help you when choosing the best odds.
- Visit the profiles in the social networks of athletes, where you can also find useful information: for example, if a cricket player approaches the next tournament in good shape and if he is well-motivated. All small details like this matter in a match.
- There is a “value betting” strategy, but beginners often use this approach in betting incorrectly and thus quickly lose all their money. High odds is not always a good signal for placing a bet, so make sure to carefully analyze the bet first.
Where do you find the best cricket betting odds?
There are many different cricket betting sites, and here you can see a few of them. Choose wisely and pick the best option for yourself.
Betway is a global online gambling company, which provides sports betting, casino, eSports, bingo, and poker entertainment. Launched in 2006, this company is one of the leaders in the betting field in the world.
Betway makes a very generous welcome offer with a 100% deposit bonus which offers up to 1000 rupees worth of free bets. The welcome offer is a 100% bonus return on the first deposit you make. It is only available once for each new customer.
Betway has numerous deposit and withdrawal options. Among the payment methods, there are Visa, MasterCard, Neteller, PayPal, Skrill, and others. For deposits, the company provides instant crediting, which is allowed with a minimum deposit of 1000 rupees. However, credit cards will charge a 1.5% fee for every deposit. It goes the same for withdrawals, though the withdrawal processing time takes about 2-3 days to complete.
10Cric is one of the best cricket betting sites in India. It is well-known for its user-friendly interface, convenient payment options, and super-fast withdrawals. It is a company with a special approach – it was designed specifically for Indians and boasts attractive betting bonuses.
The company provides an amazing welcoming bonus – you can receive a bonus amount of 150% up to 30,000 rupees plus an additional 10% bonus if you deposit more than 10,000 rupees.
As for payment options, you may find the most convenient Indian payment methods on 10Cric’s web page, including UPI and Indian Netbanking. Also, it is possible to deposit using cryptocurrency, which is incredibly popular in India nowadays.
1xBet is a betting company offering a full-fledged gambling platform online. Founded in 2011, the company has established itself as one of the best in the field. 1xBet provides fascinating sports, casino, and eSports betting markets to place bets on, which explains why there are over 400,000 users of this gambling platform all over the world. It offers live bets, sports betting, casino and live casino and covers TV games, eSports, bingo, lottery, poker, and virtual sports.
The 1xBet website is pleasing to the eye. Its color scheme comprises blue and green colors with a hint of white. In addition, the site is one of the simplest to navigate.
The current 1xBet welcome offer is a 100% bonus on your first deposit, up to Є100. However, first, you must deposit a minimum of Є1 and use the bonus amount within 30 days, after which it will be declared void.
Bet365 appeals to many sports betting enthusiasts – from fans of cricket, football, and tennis to golf and rugby lovers. Since its live streaming covers events in a large variety of different sports across the globe, featuring some of the world’s top domestic leagues, it is only natural that this company is preferred by many bettors.
When it comes to offers and promotions for existing and new customers, Bet365 is among the industry leaders. It provides amazing deals that give players more opportunities to bet.
The company also supports a wide range of banking options. Such a variety of withdrawal and deposit options guarantees the convenience of sport betting to Bet365 customers spread all over the world.
Parimatch is among the most popular companies in the betting field, as it has been growing since 1994. While the company has started from scratch, now it is considered a great alternative to the majority of the online betting and casino sector.
They offer everything you would expect from one of the top online sportsbooks. The list of sports covered is huge – American football, baseball, cricket, boxing, tennis, eSports, rugby, and many others. Not to mention that the design of the sportsbook is an eye-pleasing one, it is functional and works well.
Speaking about the welcome gift, a new 100% matching bonus awaits new customers of Parimatch once they make a min deposit of at least 1000 rupees into their accounts. Thus, even without a bonus code, they will receive a reward of up to 25000 rupees. This amount should be wagered 10 times in the Parimatch sportsbook.