What are the odds in cricket betting?

Cricket is taken seriously in the Indian subcontinent, it is a big deal for its fans. When cricket matches are held, cricket stadiums are seen brimming with fans of the sport, and at home, eyes are glued to the TV screen as the match unfolds before them. Cricket can be an exciting source of entertainment and it can also become a source of making money by way of betting. Cricket betting is very popular, just as much as watching it, if not more. If you want to start cricket betting, you should first learn the basics and get good tips on placing bets, online and offline. 

If you want to start betting, online betting can be a good place to start. You can start betting from the comfort of your home while watching the cricket match. But in order to place good bets, you should know the basics, such as what are the types of bets you can place, what are the odds, etc. There are many websites that offer you a variety of odds on sports betting and allow you to place your bet. Additionally, they may also check and analyze your bets to give you tips for better performance. 

What are the odds?

What are the odds

The most basic concept in cricket betting is that of odds. Odds are nothing but a way of representing the probability of an event happening. Based on the bets that have already been placed, the odds indicate the probability of the outcome. For example, if you bet in favor of the majority vote, the odds are high as it indicates that there are better chances of the outcome coming true. If you bet against the majority vote, the odds will be low, as it indicates there are lesser chances of that event happening. If you place a bet where the odds are low and the outcome is in your favor, you can make a ton of money on that bet. 

Common odds terms in cricket betting

odds terms in cricket betting
  • Even money: Even money means that the bettor will win and lose the same amount of money if he wins or loses the bet. No matter how much the odds vary, the bettor is entitled to win or lose an equal amount.
  • Odds against: Odds against means that the chances of the event happening are lower than the odds of the event not happening. In such a scenario we say that the odds are against that event.
  • Odds on: Odds on means that the probability of the event not happening is lower than the probability of the event happening. It is the opposite of odds against. We say the odds are on the event when such a situation arises.
  • Favorite: The team that has the most support from everyone is known as the favorite. The event of this team winning is more likely than otherwise. It also has the lowest odds.
  • Each-Way betting: Each Way betting comprises two bets in one. The first bet is placed on the selection of the team and the second is placed on the team’s position.