Over the past decade, sports betting has become popular in the mainstream. The anti-gambling stigma has disappeared and this has opened doors to everyone who loves sports and betting.
With sports betting now legal in many countries, India is one such country where people love to bet on cricket. But as a newbie, there is a lot you should learn before taking a step further and the first one is knowing betting odds.
Betting odds are a little confusing, especially for someone who is new to betting. For your better understanding, this guide will explain. This article will explain everything you need to know about reading the odds and free cricket betting tips so that you win the game. We shall also be providing you with a few frequently asked questions.
With that being said, let’s move ahead and get started.
How to read betting odds?
For a successful betting career, you need to understand how to read the betting odds. It doesn’t take much to read the odds as it is a simple task. The maths involved is also not that complex.
Cricket betting odds are depicted in two manners. They are decimals and fractions. Some betting website allows you to change the format on which you want to see the odds.
We are giving you a cricket tip by making you understand decimal odds first.
In this example, let’s suppose India is against Australia in conditions that favor the Australians.
In this case, you simply have to multiply the betting amount with the odds. This means if you have bet INR100 on India you will receive INR250. On the contrary, if you bet INR100 on Australia you will only receive INR150.
To understand fractional odds, we will take the aforementioned example only/
You will be noticing the following:
The odds clearly mention that with the return of every 1INR you bet for India, you will receive INR2.5
With the fractional odds, it is clearly visible that for every 1INR that you bet for India, you will get 2.5INR for every bet & 1.5INR for Australia.
How to use odds to win money?
We are here to give you Cricket win tips. So, once you are aware and have gained knowledge about cricket betting odds you will get amazing betting opportunities.
When you connect with a good cricket betting website like CBTF, you should shop around for the best odds.
Knowing, understanding, and calculating odds is something you should take the time to learn. These odds improve your selection chance to win especially in the eyes of the bookmakers. You will also get an idea about how much money you will be winning if your wager is successful.
Betting the odds is one of the best cricket win tips we can give you. This will give you appropriate knowledge of the work so that you can take informed decisions without being hesitant.
What is probability?
You all know what probability is, don’t you? Well, even if you don’t we are here to help you. Probability tells us how likely something is going to take place. If the bookmarker feels there is an outcome to an event with high probability, it will certainly take place. If the event has a low probability, it will not take place.
Let’s make you understand probability with the help of tossing a coin. The probability of getting heads is one in two chances. This can be simply represented as odds of 1/1. This means there are 50% chances of your winning. Now did you understand how punters are used and how betting of odds works? Similarly, this is how likely bookmakers believe an outcome is to happen.
How to calculate probability from betting odds?
You must have understood how odds are set out with two numbers separated by a forward slash. This can be simply used to find the probability of an event happening.
This is a smart cricketing tip we are telling you right now. Let’s move ahead by calculating the probability of events. Suppose we take two numbers that appear in the odds. Next, you have to replace them with letters. This means 2/1 is A/B. The clear calculation of probability becomes Probability (%) = B/(A+B).
How to Read Betting Odds in Sports Betting
Following are a few examples of odds and potential returns using decimals.
3.00 = Win 3 times your wager
8.00 = Win 8 times your wager
0.25 = Win a quarter of your wager
Finally, we have explained betting odds and given you good cricket win tips. Now that you have understood everything about betting odds, it is high time to give bookmakers a run for their money. Register with CBCT and win the bet.
For more useful betting tips or cricket betting tips, stay tuned with CBTF.