What are the odds?
Cricket has always been a popular sport for players willing to invest their money. A large test series always gathers a huge number of fans from all over the world.
A simple way to represent odds in a sport is the implied possibility of a particular outcome. This is the arithmetic expectation that a team will win or lose a match based on their past presentation. While odds in cricket can also take into account the bets of other fans, you can expect the data to provide significant insight into statistical probabilities.
Odds are a statistical detail that helps you understand the potential of a bookmaker. It reveals the bookmaker’s research and tells you more about teams with a higher expectation of winning.
Types of cricket betting odds and their reading
Cricket betting has been around since the 1600s and the odds are presented as “bet on the winner for a possibility to increase your money, etc. You can easily understand what are cricket odds with Parimatch. Parimatch is a licensed company with a 28-year history offering a great range of instant games and sports to bet on. Dealing with Parimatch you should contribute a small minimum input; you will have a guaranteed convenient and quick payout and you can use the mobile app for your convenience. Also, customer support is available 24/7 via email, online chat, or WhatsApp.
Nowadays, online betting platforms demonstrate their odds in three main formats: decimal odds, fractional odds, and American odds.
- Decimal odds:
All you need to calculate decimal odds is a basic knowledge of mathematics. Decimal odds are one of the most common methods for providing odds at bookmakers, especially in Europe, giving them the name “European odds”.
They are easy to read. These are simply probabilities converted to percentages. All you do is take 100% and split it by the probability of the outcome.
For example, let’s say the outcome is 50%. You would do this: 100% (total) / 50% (this outcome) = 2.0.
Let’s say the probability of winning is 65%. The math would look like this: 100/65 = 1.54.
Each unit you bet will bring you 1.54 units (using the example above). If your unit is $1, then if your bet wins, you will win $1.54.
- Fractional odds
As the name suggests, a fractional odd is expressed as a fraction, such as ½ or ⅓. Other people may refer to this type of odds as UK odds as they are the most popular means of providing odds for betting in the UK and Ireland. The top number (numerator) is the amount your bet will return, and the bottom number (denominator) is how much you have to bet to win the number on top.
For example, 10/15 odds on India winning the tournament means that placing a $150 bet could result in a $250 win ($150 original bet + $100 win).
- American odds
As with popular American sports such as boxing, the odds here are classified as favorites and underdogs. These odds are more popular with American bettors and are also known as Money Line odds. These bets usually display a positive or negative sign next to the number. Favorites come with a – symbol in front of their number, while underdogs have a + symbol in front of it.
Team A: +150
Team B: -160
The plus sign means that the team is the underdog and you will need to wager $100 to win the stated amount. In this example, you will bet $100 to win $150.
Negative signs mean the opposite. The team is the favorite and you will need to wager the indicated amount to win $100. In this case, you will wager $160 to win $100.
Therefore, reading the odds is not as difficult as it seems.
Cricket betting tips for the best odds
Cricket is an impressive sport. Since matches last from 3 hours to 5 days, it can be difficult to figure out how to place bets or when to use bets while playing. There are some tips and strategies from professional bettors to get you started on your cricket betting adventure.
- Use the advantages of your bookmaker
First of all, you must understand that almost all bookmakers found on the Internet offer impressive betting bonuses. These bonuses come in the form of matched deposits, free bets, and even matched bets. So be sure to read the terms and conditions of your chosen bookmaker and choose how you can use these rewards to your benefit.
- Watch the weather
Most sports can continue as usual nevertheless the weather conditions. However, during cricket, even the slightest suspicion of rain can stop the match. This may negatively affect your bet.
For example, if you bet on a team to win and that team wins, and then it rains on the 3rd day, the match may be stopped. This results in a draw and neither you nor the team will win. Therefore, you should keep an eye on the weather to make sure your bet is not zero.
- Examine all statistics and player forms
Before any sporting event, not only cricket, we strongly recommend you to check the team’s current form. This means checking their stats from previous matches and games to see if the team is performing at its best.
However, the whole matter of sports is the excitement and unpredictable results! Therefore, take your time, check out the statistics and forms of the teams and make a smart bet!
It is important that you are able to understand sports odds enough to go out and aim for the win. Reading the odds is not as difficult as it seems at first glance. You only need a little time to study the information and determine which odd is best for you.