How To Get Started On Cricket Betting: Types Of Bets And Odds

The global sports betting market was valued at around $98 billion last year. Many have been placing wagers on popular sports and that includes cricket. Cricket betting generates revenues in countries like India, the UK, Australia, and South Africa. It’s estimated that around 80-90% of the sports bets in the country are for cricket, and the Indian Premier League is one of the biggest tournaments that is a major draw for bettors in the country.

If you’re a cricket fan, you’ve already considered placing bets on your favorite teams or cricket stars. However, if you’ve never done this in the past, it may seem like a daunting activity. A quick look at the sportsbook section of an online gambling site can easily overwhelm beginners.

If that’s something you’ve felt we’re here to ease the confusion so you can be off to a good start.

Knowing the Types of Cricket Bets

Placing cricket bets isn’t just about predicting who will win or lose a match. Many sportsbooks would offer different types of bets and some offer sets of risks. You need to know what type of wagers you should be placing care about your budget. Here are the most common types most bookies would offer:

• Match Betting (Win/Loss): This is the simplest form of cricket betting. You’re betting on which team will win the match. It’s straightforward but requires a good understanding of the teams and conditions.
• Completed Match: This type of bet is usually available for one-day matches as you’ll need to predict if the event will conclude on the same day.
• Tied Match: Betting on whether a match will end in a tie. It’s rare but offer hefty returns if it hits.
• Series Winner: Instead of betting on a single match, you can bet on who will win a series of matches. However, this requires a long-term view and understanding of the teams’ performances over multiple games.
• Tournament Winner: This is similar to the series winner, but this bet is placed on who will win an entire tournament. Again, this is a long-term bet and is often made before the tournament starts.
• Over/Under Scores: Here, you bet on whether the total runs scored by a team will be over or under a specified number. This is great for those who have a knack for reading the game and predicting scores.
• Top Batsman/Bowler: Bet on who will be the highest run-scorer or wicket-taker. This is where knowing player form and conditions can pay off.

You still might encounter other betting odds from various sportsbooks, especially if you’ll bet online. That might include odds relating to player performance, first innings, and even method of dismissal.

Also, betting on live cricket betting scores is becoming more popular. This is when you place bets as a match progresses, so this is the fast-paced version of cricket betting. However, this may not be something you’d want to get into right away. It’s best to get into this if you’re already used to reading cricket betting odds and are confident in your predictions during a match.

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How Cricket Betting Odds Work

Before you place your first cricket bet, learn the language of odds. Think of odds as the probability of an outcome occurring as perceived by the bookmaker. They also determine how much you can win. But odds can look confusing, appearing in different formats across different sportsbooks. Odds in cricket or any other sport come in three main formats:

• Decimal Odds: These are the most straightforward. Multiply your stake by the decimal odds to find out your total payout. For instance, if you bet $10 at odds of 1.50, your total payout would be $15.
• Fractional Odds: Common in the UK, these odds are presented as fractions (e.g., 3/1). The first number represents the potential profit from a stake equal to the second number. So, a $10 bet at 3/1 would yield a $30 profit plus your initial $10 back, totaling $40.
• American Odds: These can be positive or negative. Positive odds show how much profit you’d make on a $100 bet (e.g., +200 means $100 bet yields $200). Negative odds show how much you need to bet to win $100 (e.g., -200 means you need to bet $200 to win $100).

Conclusion: Remember These Before You Place Your Bets!

That’s what you first should look into before you place any bets. Knowing the types of odds available, and reading the actual cricket odds will help you not feel overwhelmed by the number of sportsbooks present as soon as you go to the sportsbook section.

Once you understand how they work, you can then focus on other things like building your strategies and improving your bets. That’s also when you can start preparing for live betting if you want something more thrilling.