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Cricket is the second most popular sport globally, just behind football, and it’s becoming increasingly popular. So is cricket betting. Considering how popular cricket is, it’s not surprising how many cricket fans tend to bet on cricket matches.
If you plan to bet on cricket matches, you must know how bookmakers work and understanding how bookmakers set odds is the most important thing when betting. So first, you need to understand cricket odds and how they put it.
As a punter, it’s cool to stay up to date on cricket matches, and checking live scores sites like cricket live score big bash is significant to making good bets at the appropriate time.
International Cricket Betting Odds Formats
When betting, there’s a chance you’ll come across different kinds of cricket odds in cricket betting. In cricket betting, the odds are usually three types:
American odds give the punter an insight into how much they can make from every 100 units they bet. And the symbol “-” lets the punter know how much is needed to bet to create a winning bet. And the “+” shows the team is likely to lose a cricket match, then “-” indicates the team has a high chance of winning.
A team is likely to win a match. The odds might be displayed as -301, where 301 is the amount needed to make a successful bet to win 100 rupees. When a team is most likely to lose, you see odds like +180, which means every 100 rupees you bet, you get to win 190 rupees.
Fractional odds specify the amount you could win; let’s say you bet 2000 Indian rupees on odds of 5/2; your potential win could be 5000 rupees. How? It’s basic math; 5/2×2000 gives you 5000. You get the original amount placed on the bet plus your winning gs, 6000 rupees.
The decimal odds are pretty different from fractional odds; decimal odds give you an insight into what your return might be. How fractional odds and decimal odds differ is that fraction odds specify what you could win; decimal odds show you what your returns might be.
You stake 1000 rupees on an off of 1.77; your return should be 1770 rupees. How? You multiply 1000 by 1.77. It means your return is 770 rupees.
Why do Cricket Odds Change?
The main reason cricket odds changes is that the oddsmaker or bookmaker needs both odds to be even to make a profit. Say a team has an odds of -1.30, you’ll need to place a bet of $130 to win $100, then the other team has an odds of +130, you need to place a bet of $100 to win 130.
So take into consideration that two people make a bet, one for 120 on team A and the other stakes 100 for team B. If team B loses, the bookmaker makes 100 but still pays the other person who makes a bet on team A 100. This way, the bookmaker first loses and breaks even.
If team B had higher odds, the bookmaker would lose a vast amount of money and not break even. If the bookmaker notices too many bets placed on team B, then team B has a chance of winning. The bookmaker adjusts the odds to encourage more people to place a bet on team A.
How are Cricket Odds set?
Bookmakers have lots of sports researchers who consider many things to determine the odds of a game. Other factors can affect a cricket game, an outdoor event, and the odds.
They consider player form, team form, past head to head performances, the condition of the field, and even the predetermined weather condition during gameplay.
Because oddsmakers factor many things before setting odds, punters should check odds from different sites to make bets effectively. Shop for other odds on various websites to bet on the best odds.