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 Do Cricket Betting Odds Mean? What do cricket betting odds represent? Let’s consider an example. India are playing England in a ODI. India are at odds of 1.67 to win the match. What does this mean? Well, betting odds represent a likelihood (often referred to as the ‘ implied probability’ ) of an outcome occurring.
As mentioned, the betting odds will tell you the likelihood of an outcome. For example, the odds of 1.54 for Mumbai Indians means that the team has a 64.93% chance of winning the match (odds/1). In short, the published cricket betting odds will tell you that this team is the odds on favorite to win the match. Also, the cricket betting odds will tell you about your potential payout.
Negative signs mean the opposite. The team is an underdog, and you’ll need to bet the amount shown to win $100. In this case you’d bet $140 to win $100. Fractional Odds. These are used most in the UK. They’re written as fractions. For example: 1.5/1. This would read like this: You bet $1 to win $1.50. Decimal Odds. These are simple to read.
These odds quote the net total which will be paid out to the bettor should they win, factoring in their stake. On the other hand, a gambler backing Manchester United, who have odds of 1/5, will see a payout of just $1 for every $5 bet. That means a total payout of $6 for someone betting $5. Bournemouth 5/1.
Wager amount x betting odds = Payout. 1,000 x 1.66 = 1,660. So you simply multiply your wager amount with the betting odds to find out how much you will receive after your bet has won. If you bet 325 rupees on Australia to win, at the odds of 4.60, you would receive 1,495 rupees if Australia beats India – 325 * 4.60 = 1,495 rupees. 325 x 4.60 = 1,495
How Cricket Betting is done in India? Odds mean bhav of cricket outcome. There are 3 types of rate or odds in cricket:-Desi Odds:- Like IND 80-82 F; Online Betting sites odds:- IND 1.80 PAK 2.00; European Odds Like IND ⅔ and Pak 2/1; Let’s take an example:-
Odds in the world of cricket betting represent the likelihood or probability of the occurrence of an outcome. They also tell how much the punter would get in return upon winning his/her bet. To make it more clear, let's take an example of an India-England ODI match. Suppose a bookmaker is offering odds of 1.90 on England to win the match.