Cricket betting is one of the most famous things among thousands of people. It has been constantly growing worldwide, and multiple countries have started playing cricket. Due to its popularity, online cricket betting has become one of the most popular things in sports as it has crores of viewers. Franchise cricket has made betting even more popular. Many websites are providing cricket betting tips, but still, people miss out on many things that become the reason for the loss. Cricket odds are one of them.
What Are Cricket Betting Odds?
Cricket odds are the basic things, but many people are confused about them. It is the basic thing that is provided by the bookmaker on a specific outcome. Odds depend on the probability of an outcome. If the probability of an outcome is low, the odds will be greater and vice-versa. You will get the biggest return with the biggest odds, and the risk also increases with it.
If you are interested in betting and placing bets, you must know how odds work. At the start, people ignore the odds as they feel it’s not a big deal, but you can win the biggest payout after understanding the winning odds.
How Do Cricket Betting Odds Work?
Since we have seen that odds are given by bookmakers based on the probability of an outcome. 100% is the stand for the likelihood of the result, and we are taking it reference. For example, if a team has a winning probability of 70%, the bookmaker will do 100/70, and the cricket odds will be 1.43. Still, if you are facing difficulties in understanding the cricket betting odds, here are some of the guides to understand it.
Every day, many matches are taking place, and you have to choose a match from your interest in the upcoming cricket matches. Take a look at the cricket odds of your website or bookmaker and compare them with other websites. Odds might be in numbers, percentage(%), or – or +. Predicting the winning team and higher odds means the team is most likely to lose the match, while lower odds mean the team is most likely to win the match. Choose the best cricket odds from the different websites, and you should go with the bet odds. Congratulations! You have understood the betting odds.
Types of Betting Odds
Generally, three types of betting odds are used in betting, and it becomes crucial to differentiate them to get the best outcome. Since all the odds are widely used in sports all over the world. Here are a few cricket odds in cricket that you should look at.
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American
American odds are widely used across the world and are easy to understand for beginners. It is written in whole numbers with positive and negative signs in front of teams. For example, Team A has +120, and Team B has -140, and both signs have different meanings. Plus signs indicate that the team is the underdog, and you need to invest INR 100 in terms to win INR 120. On the other hand, negative signs show that you need to put in INR 140 for winning the INR 100.
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Fraction
Fraction odds are most commonly used in the UK. It is very easy to understand, and you can easily multiply the outcome. For example, the bookmaker is providing the odds; 3/1 to team X. If team X wins the match, you will get INR 3 for each INR 1. You just need to multiply the fraction to collect the winning amount.
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Decimal
Decimal is the most popular type of odd and is easy to understand. Betting odds also show us which team can win the match as it involves the winning probabilities. Calculating the cricket odds is very easy as we divide 100% by the winning probability. 100% probability means the outcome is fixed, and we divide it by the probability of the result. For example, India and Australia are playing a match against each other, and the winning probability of India is 65%. Let’s calculate the cricket odds of India – 100/65 = 1.54. On the other hand, the odds for Australia will be 2.85. You need to calculate your amount to the odds.
Visit the CBTF’s website for the cricket betting tips.
