Cricket is like a religion for Indians. They never miss a chance to participate in anything related to cricket. Through online cricket betting, you can make money while supporting your favorite team. It is one of the most popular categories of online sports betting that people engage in, especially in India. Make the right betting choice, guided by your gut and by keeping in mind the statistics of cricket odds. Any betting site can provide you with a variety of offers when it comes to cricket betting.
How to Start Betting on Cricket
Follow the given steps, and you will discover that online cricket betting is really simple-
- Sign up: The first step is to find a good site and register by creating an account. Almost every online betting site has a free registration procedure that requires you to fill out a form with personal details like name, address, and e-mail, along with bank details.
- Deposit- After the signup process is complete and you’ve opened an account, the next task is to deposit money in that account which you can use later to place your bets. If you’re betting from a place where it is legal, e.g., the US, you can use your debit or credit card to fund your betting account.
- Placing the bets- Once you have created an account and deposited money in it, you are good to go. You will have to select cricket from the list of sports, leading you to a page where all the ongoing and upcoming matches are displayed. A list of all the bets, with the odds cricket betting, will be shown after you select your preferred event. After you click on a bet, it will generate a bet slip to add the amount you wish to bet with. Hit that confirmation button to get going. Your bet is placed, and the amount was deducted from your account.
These are the basic steps that you have to take when betting on cricket online. The exact procedure may vary slightly depending on the online site itself.
Also read: Cricket Betting: A Beginner’s Guide
Types of Bets
Major cricket betting sites provide numerous markets to wager money on. These vary from basic to the more advanced ones. Let’s take a look at them-
- Match/Event Winner- This is the most common kind of bet that you will find on every cricket betting site. When placing a bet on a winner for the limited-overs format, you have to predict which team will win that match. For Test matches, you also get a third option to bet on, which is a drawn match.
- Top batsman or bowler- You have to predict which batsman will score the maximum number of runs and which bowler will have the best bowling figures at the end of an innings or the end of the match. If your chosen batsman/bowler does not feature in the playing eleven of that match, your bet will become void. It is settled as lost if your player is in the playing eleven but does not get to bat/bowl.
- Toss winner- At the start of any cricket match, a coin is flipped to choose which team will bat or bowl first, and you have to predict the winner of the toss to win this bet. For both the teams in this market, the same cricket odds are offered.
- Player of the Match- You need to predict the player who will give the best performance on the field during that match. This bet is quite uncertain and requires a good strategy and knowledge about all the players in the lineups of both teams. Usually, the player of the match is awarded to a batsman from the winning team.
- Highest Opening- Here, you need to predict which team’s opening batsman will score the highest number of runs in the match. It requires a good amount of research as a certain batsman may have a poor record against a certain bowler.
Keep certain things in mind before placing your bets. A great deal of research can go a long way.
Odds: How They Work
Knowing what betting odds mean is very important before getting into the world of online betting. Initially, they might come forward as complex and confusing, but the more you understand them, the better are your chances of becoming a successful bettor. So, here is an explanation of odds cricket betting and how they work.
Betting odds reflect the probability of the occurrence of an outcome and give you an idea of the outcome of your wager.
Let’s take an example- Suppose Australia is playing against England in a one-day international and the odds of Australia winning the match are 1.80. Therefore, the chances of Australia winning this match will be calculated as:
Probability- 1/decimal odds
Hence, the probability of Australia winning this match is – 1/1.80=0.5555= 55.55%
You can find out how much you will win if your bet wins by using this formula-
Your Winnings (profit) = (Your stake * Odds) – Your stake
Types of Cricket Betting Odds
There are several ways in which cricket betting odds are laid down. The most common are-
- Fractional Betting Odds- It is the oldest and the most common notation used to express betting odds. It is represented by availing two columns, each separated by a slash. The left column represents the amount you will win on your bet for the amount you place, denoted by the right column.
- Decimal Betting Odds- This notion is very simple to work out. It includes your stake in the total payout rather than the profit. It represents the amount one wins for every $1 wagered.
- American Betting Odds- It is mainly used by US-based sportsbooks, and it is more confusing than the other two. American betting odds are represented either by a positive or negative number where positive odds denote the amount of profit you will make on staking $100. In contrast, negative odds denote the amount you will have to stake to earn a profit of $100. Like fractional odds, they do not have your stake included in the total payout.
Odds cricket betting requires more than just luck. There are several factors that you need to take into consideration during online cricket betting. Bookmakers provide players with several promotions and offer that entice them. The odds set by them are a huge factor to consider before betting.
You can register at FairPlay to get tips on online cricket betting and win real money.