If you want to be a successful gambler, then you have to gain knowledge about betting odds. Without knowing the odds, you cannot make much profit. So, once you register on an online bookmaker, then start learning about odds; what they mean, and how to play them in the right way. Luckily, it’s not difficult to understand cricket betting odds. Today we will discuss the same so that you can enjoy cricket betting online more confidently.
What are the different odd types?
You will generally encounter three types of odds:
a. Fractional: One of the most popular among all, fractional odds are generally preferred by Irish and British bookmakers. Generally, you can find these odds written with a hyphen or slash. For instance, 10/2 will be pronounced as ten to eleven. These odds are used by some of the reputable online bookmakers.
A fractional odd listing 10/1 means that you will win ten dollars against every two dollars you put on stake. You will also receive the $2 you invested initially. Means, you will receive the stake ($1) and the profit ($10). For instance, if you stake $50 on 10/1, you will get a total amount of $550 ($500 profit and $50 the wagered amount).
b. Decimal: Popular in Europe, New Zealand, Canada, and Australia, Decimal odds are comparatively easy to understand. You can easily know which team is the favorite, simply by looking at the odds. They represent the amount you will win after wagering $1. The mentioned number includes both the stake and the payout. Means, you don’t have to indulge much in calculations. For instance, if the odds are 4.00, you will get $4 for every $1 invested. Like invest $100 and you will get $400 that includes both your stake and profit.
c. Moneyline (American): Generally used in the USA, Moneyline odds are represented by minus and plug (-) sign in front of the favorites and underdogs gets a minus (+) sign. For instance, if Ireland and Australia are playing an ODI and a US bookmaker describes the even as
Australia: – 1000
If you want to bet on Australia, then you need to stake $1000 to win $100, and you will get $1000 back, plus the investment. Means $1100. On the contrary, if you bet $100 on South Africa, you will get $665, plus your stake. Means, you will enjoy a total payout of $765.
What is the importance of cricket odds?
If you want to enjoy the best returns on your gambling investment, then understanding the odds is the best way. Betting on lower odds for a long time, simply means that you are not getting the right outcome. We can understand it better using an example.
Let us suppose that there are two gamblers X and Y, who tried their luck on 100 bets and won 70 out of them. Now, X is placing bets with an average odd of 1.9, but Y is doing the same bets at 2.10. If they bet $1000 in total, then what will their total payout.
$1000 X 1.90 X 0.70 = $1330 for X
$1000 X 2.10 X 0.70 = $1470 for Y
So, Y is taking $140 extra only by choosing an online bookmaker who is offering higher odds.
How to find the best cricket betting odds?
The process of finding betting odds that seek the least investment but provides high returns is known as line shopping. You need to browse different online cricket betting sites to find the best odds that can offer high returns. Simply look at the odds on some of the major bookies and then place your bet.
Which sites provide the best cricket odds?
Betway and Bet365 are the two reputable online bookmakers that offer the highest odds. However, it’s not guaranteed that these two sites will give you the highest returns. So, you should check other cricket online betting platforms as well.
Mayank Chowdhary is a professional online sports bettor and trader with over 5 years of experience in the industry. He is very passionate about cricket and knows ins and out of cricket betting. With this long experience, now he has decided to share his experience with other betting aspirants like you. Know more at the about me page.