Everything You Need to Know about Cricket Odds

If you want to bet on cricket and be successful, or at least minimise the risks, you need to understand all aspects of betting. You need to have a good understanding of how betting works, the rules of cricket and the leagues available for betting. There is no exception to the concept of odds. You should know what they are and what they consist of, as well as the most popular options on the best cricket betting sites in India.

Odds not only show the probability of a certain outcome, but also determine the possible profit from a bet. Anyone interested in betting on cricket matches should understand the principles of how they work. If you are one of those interested in betting on cricket, keep reading.

What are Odds in Betting?

If you are just starting your betting journey, then you need to know what betting odds are. It's very simple - they are numbers that show the potential profit from a bet and also help you determine the probability of an outcome. They help you understand the probability of two outcomes and how much you can win if you place a successful bet.

Odds are a key element of betting. There are actually quite a few types of odds, here are some of them:

• Fractional;
• Decimal;
• American;
• Hong Kong;
• Indonesian;
• Malaysian.

Each of these formats is more popular in its own region. For example, in India, you will rarely find a betting site with American odds, and Malaysian or Hong Kong odds will not be found at all. In any case, the type of odds is not so important, because it does not affect the result. Different types exist only for the comfort of players, so that it was easier for them to understand how to calculate the profit.

Popular Types of Cricket Betting Odds

You have already learnt that there are at least 6 variations of odds, but which ones are most commonly used in India? As in most countries, decimal and fractional odds are the most popular in online betting sites cricket. So if you want to bet in India, you need to know how they work and how to read such multipliers.

Fractional Coefficients

Fractional odds are often used in the UK, but you may also come across a site in India that offers them. Fractional odds look directly like a fraction, e.g. 2/3 or 4/5.

They are quite easy to read, although if you've never encountered them before, you'll need a bit of practice. The top or first number in the fraction represents your potential profit, and the bottom or second number represents your bet. So if the odds are 1/2, then for a bet of 2 INR you will get 1 INR and additionally a return on your bet.

To understand even better, watch this example calculation and analyse it. Let's say we have odds of 4/1. If you bet Rs 100 and win, you will get 4*100 INR plus your bet of 100 INR. You will have a total of INR 500, out of which 100 is your bet and 400 is your net profit.

Decimal Coefficients

Decimal odds are much more popular in India, they are the ones that can be found most often in new cricket betting sites. They are easy to understand and have been the first to use for many decades. It is the decimal odds that every bettor needs to know and be able to read.

But don't worry, it's even easier than fractional odds. Decimal odds represent a number that includes the return on your bet. For example, at odds of 1.5 you get 1.5 INR for a successful bet plus the original amount invested.

If you don't quite understand the thought process, take a look at an example. If you bet 100 INR with odds of 1.5 and win, you will get 100*1.5 INR plus your original bet, i.e. 100 INR. In the end, with odds of 1.5 and a bet of 100 INR you get 250 INR, where 150 INR is your net profit.

What Affects the Odds?

Many may wonder who decides what the odds will be and how they determine their value? The question is actually a tricky one and to answer it you need to take into account many aspects of betting and cricket itself. You can take a closer look at each factor that affects the value of the odds:

• Team and individual player form. Analysing players' individual form, injuries and team composition helps to predict their future results. In general, bookmakers offer lower odds for teams that are in good form;
• Results of previous matches. Previous matches should also be taken into account, especially if there has been a rivalry between the two teams before. Bookmakers make lower odds on favourites with a personal record. But that doesn't mean there is no point in betting on outsiders;
• Toss. In cricket, the result of the draw is of significant strategic importance. It is its result that can instantly change the dynamics of a match and influence the outcome of events. Bookmakers often use it when changing the odds;
• Venue of the match. Often the team that plays on the home field has a better chance.

In any case, whichever cricket betting sites you come across, the odds will depend largely on these factors. Your goal is to learn as much as you can about them, analyse and use this knowledge to your advantage.