Cricket betting odds do not have to be confusing if you are new to sports betting. Once you understand the basic premise of these odds, you will be able to make informed betting decisions. Read on to find out more about the betting odds in cricket and how to interpret them.
Cricket betting odds tell you how much profit you can make when you stake Re.1 on a particular team. For example, So if India has odds 16/1, it means if you stake Re.1 on India winning the match, and if India wins the match then you will get a profit of Rs.16. Hence, you end up winning a total of Rs.17 (profit + original wager).
On the other hand, Pak has odds 1/9, by staking, let’s say Rs.9 on Pak, you will get Rs.1 as profit, and thus getting a total of Rs. 10.
Whenever a team has greater odds, it is indicative that bookmakers and bettors believe that the team has lower possibilities of winning. Hence, cricket betting odds demonstrate to you which team has a better chance of winning the game.
Steps in Converting Odds
There are primarily three basic steps to converting odds. These are mentioned below:
- You need to understand the odds format. These are decimal, fractional and American. These odds need to be converted
- You can convert the odds to their implied probability
- Then you need to convert the implied probability to preferred odds
Decimal Form of Betting
Decimal form is quite easy to understand. For example, the odds England defeating India in a cricket match is 1.54. This means that if you stake Rs.100, you will win Rs.154 in case England wins.
Decimal betting is one of the modern betting types. This betting type is much simpler and is easy to understand.
Fractional Form of Betting
In fractional form of betting, your stake is represented by a number on your right and the profit of your wager is represented by the numerator. So an odd of 2/4 depicts a wager of Rs.40 will earn you a profit of Rs.20. So, your total return will be Rs.60.
In the same way, taking into consideration the second odd, an odd of 7/5 represents that for a bet amount of Rs.50, you will get a profit of Rs.70. Hence, the total return will be Rs.120.
You can also convert fractional odds to the decimal odds if you desire. For instance, when you convert fractional odds of 7/5 into decimal, it yields 2.4(1+1.4) while the fractional odds of 2/4 would give 1.5 (1+0.5).
American Form of betting
American bets are similar to decimal bets and are also easy to understand. In American odds, you will get to see two numbers, either positive or negative. The negative number represents how much you need to win 100 units.
If one team faces odds of +325, it actually means that for each 100 units you wager, you will get 325 in return. But on the other side, if the bet was -325 then you must bet 325 units to win 100 units.
Now you have a better understanding of cricket betting odds. All that is left is to find a reliable and trustworthy sports betting site online that offers you the best cricket odds. This way, you will be able to select the best odds and ensure you always end up a winner.