Online betting odds are always highly sought after in the world of online gambling. They are like winning determinants which gamblers love to have at their nearest disposal because they provide a measure of the likelihood of a particular outcome. Odds are utilized in a whole lot of sporting and non-sporting games and activities. In essence, whatever can be bet upon, they’re statistically-based odds for it.
The game of cricket isn’t oblivious to this and because betting odds are so important in the world of gambling that gambling sites optimize their marketing strategy towards it. This piece is highlighting everything you need to know about the working principles of betting odds as well as the gambling sites like Fun88 that offer the best online cricket betting odds in 2021. Click here for the best odds.
Latest Cricket Betting Odd Sites
What Are Betting Odds And How Do They Work?
If you knew your chances of the occurrence of the outcome of an action, wouldn’t that influence your decision of either performing or neglecting that action? This is how odds work in online cricket betting sites. It’s somewhat preposterous even to think of placing bets without being conversant with exactly what odds are. This single act might cause you to lose more than you ever bargained for and even run into debts. Hence, the knowledge of the application of these odds is critical for an online gambler.
Without further ado, betting odds are based on probability prediction as they are a measure of the likelihood of occurrence of an event. These odds carry a lot of information about whatever is being bet upon be it the potential winning amount and of course the consequential losses one could incur. To understand how betting odds work, one needs to be conversant with probability and its calculation.
Take rolling a dice for instance. The odds of rolling a 6 in a single dice is 1:6. That of rolling a 2 is also 1:6. However, the odds of rolling a number greater than 1 is 5:6, and so forth. Probability is much different but it’s somewhat related. For emphasis, the probability of rolling a 5 or a 6 in a six-sided dice is the fraction of the number of events which in this case is two, divided by the number of total events (2+4). This results in 1/3.
However, in gambling, these odds represent a ratio between the staked amounts by different parties to a wager. Simply put, in gambling, odds are calculated as a ratio of winnings to what was staked or wagered. In essence, if you wagered 1 at 1:5 odds would pay out 6(5+1). Thus, if you make 6 wagers of 1, you win once and lose 5 times. However, you will be paid 6 while finishing square.
How Can I Use Cricket Odds To Win Money?
Betting odds dictate the valuation of different wagers and this helps one decide on which bets to place. Hence a proper understanding of these odds, what they represent and how they work can very much depreciate the losses while your wins appreciate. Speaking of value, the best way to make money from online cricket betting is to find value in the betting odds. It’s a fact that if a bettor doesn’t bet for value, the chances of long term success from betting are slim to none.
In essence, to bet successfully, refrain from selecting as many winners as you possibly can and dive into finding areas where the betting odds would be in your favor, and to do this, one must grasp the concept of value with betting odds.
This being said, certain constructs need to be highlighted. These constructs are referred to as wager prices.
The first is ‘Odds On’. If you’re betting an ‘Odds On’ bet, this means that your potential winnings will be less than your stake. However, to make a profit via this bet type, bettors will have to risk an amount that’s higher than their potential winnings. Odds on bets are easier to win although they offer fewer rewards.
Next is ‘Odds Against’. These are the odds that possess the most winnings. Here the potential amount one can win will be greater than what was staked. Indeed, it’s harder to win an ‘Odds Against’ bet as the wagers are more likely to go in favor of losing than winning, however, the rewards are mouth-watering.
Lastly, ‘Even Money’. Winning an Even Money bet will bestow on the bettor the same amount that was staked in profits as well as the original stake. So these kinds of odds are those that are called ‘money doublers’.
By placing a bet with odds from either of these betting wager prices, you can earn less, way more or even the same amount staked
Cricket Betting Odds – A Complete Staking Guide
Just like any other sport, betting odds apply to bet on IPL or Cricket. Every slated match has its respective odds stipulated by the different gambling sites. Each site might offer a gradient of betting odds and most times, a comparison of multiple gambling sites is required before one goes ahead to place bets. This is because you don’t want to bet on odds that guarantee your loss.
A quick internet search would equip you with knowledge on where to find the best betting odds for cricket in India. Other individuals receive their betting odds from landed betting offices and others use word of mouth. However, this piece is saving you the trouble of conducting your research as we’re bringing quality information directly to you.
Where I Can Find Betting Odds To Wager Online?
Bookmakers or ‘Bookies’ as urban dictionary calls them are organizations that accept and pay off sport-related bets and other events at agreed-upon odds. Presently, these organizations have transitioned and expanded into the online market and are known by many names in many locations. Regardless of the saturation of the market, each of these organizations offers betting odds. Matter of fact some betting companies curtail their ads around the authenticity and value of their odds as compared with their competitors. Because of this digital transition, you can find betting odds on multiple gambling sites across the internet. One of such sites is Fun88.
Fun88 Casino is an online betting service provider that’s available in multiple countries, India inclusive. This site offers amazing yet competitive odds to all its bettors for different sports, leagues, and games all available here. It offers betting opportunities for a plethora of games, cricket inclusive. Matter of fact, from the Indian Premier League to the T20 Big Dash which opened up a whole new world of cricket odds to punters during the tournament, cricket betting odds are live and concise. On this betting site, there are also test matches that offer odds available all through the series, and lastly, the County Championship that cricket odds were made for. Get the best odds at Fun88 here.
In essence, cricket betting odds are widely available across games, matches, tournaments, and championships for bettors all over the world. Thus, not only can you find the best cricket betting odds on either of these online betting sites you can also bet on them for maximum earnings.
Popular Types of Betting Odds
This piece would be incomplete without this section. Now, there are several types of betting odds as well as their modes of operation. Each of these types has a different expression but this bears no impact on the bettors’ payouts. There are three distinct types of betting odds and they include;
- Fractional Odds (British odds)
- Decimal Odds
- American Odds (Moneyline)
As the name implies, these odds are popular in the US. However, the odds for this type can either be positive (+) or negative (-) and they’re preceded by these signs. Positive Moneyline odds show the total amount a bettor is entitled to win for every $100 staked. Thus if you’re on an online betting site and you see a +250 odds it simply means that a bettor would receive $250 in total for every $100 staked. On the other hand, the negative Moneyline odds represent the amount of money one needs to stake to receive a $100 profit. So if one came across odds of -150, this simply means that one needs to wager $150 to receive a $100 profit, thus $250 in total returns.
These are odds that are presented with a slash (/) or sometimes a hyphen (-) symbol. They are commonly used in the UK by bookmaking shops and of course bookies at horse racing tracks. Examples of fractional odds include 6/1 announced as six-to-one which means that for every $1 staked, you win $6 in addition to your original dollar. In essence, fractional odds are represented as ratios of the profit amount to be won to the initial bet. Thus with odds presented as 6/1, for every $10 the bettor would stake, he/she would recover $60 in profits and the initial bet of $10 summing up to $70 in total.
Decimal odds are pretty popular in continental Europe, Australia, New Zealand as well as Canada. The presentation and idea behind these odds are quite easier to understand and work with. For decimal odds, the number represents the amount a bettor wins for every $1 wagered. Rather than calculating the profits and the wagered amount as in the case of fractional odds, the decimal odds number stands for the total payout. Thus the total amount staked is already inclusive in the payout figure. So if you come across odds like 3.5, it simply means that for every $1 staked, you stand to recover $3.5. Hence, for decimal odds, the total payout can be calculated by multiplying the amount staked by the odds number. For these odds, the higher the total payout the less probable or risky it is.
Why Cricket Betting Odds Are Important ?
Betting odds are like indicators that inform you of the implied probabilities of a win or a loss. These numbers divulge a lot of valuable information and here are some of their importance.
- Knowledge: Without betting odds, individuals would be blindly engaging in betting practices with no knowledge on what they stand to gain or lose as well as info the highly valued odds and the low odds. Betting odds equip you with all the information needed to make timely, concise, and informed decisions when betting.
- Profit maximization: Betting odds inform one on what’s really at stake. This includes the total return, profits as well as losses. It’s known that while some odds are high risk, their probability of occurrence is mostly lower than other odds and this is why its profits are higher. Being conversant with all the concepts surrounding betting odds will help one maximize profits.
- Success: If sports betting is something that you want to venture into, then the knowledge of betting odds is somewhat an intrinsic determinant of your success. Betting odds and its implied probabilities are the keys to your success as a sports bettor. It’s a no brainer.
Here are some of the most popular frequently asked questions that relate to the subject.
While it may seem like a covertly exclusive body that calculates and establishes the odds for different cricket games, series or tournaments, this is the job of the oddsmakers of the respective online betting site. This team of highly experienced and knowledgeable members are responsible for adjusting the odds and lines of bets based on certain factors and criteria.
The betting odds per site is a reflection of the odds compiler’s opinion on the implied probabilities of a sports event. Hence, because these sites have their compilers, the odds reflected are going to be different from the next. Also, betting odds are influenced by the volume of betting activity. Hence, the distribution of site action can engineer these differences.
With so many gambling sites to choose from even as the list keeps getting updated, this is a valid question. However, statistically speaking, sites like BetWay or Fun88 have always been known to offer amazing odds across different sporting events like Cricket.
The knowledge of and interpretation of the diverse types of betting odds is tantamount for bettors of all levels be it beginners, intermediate or advanced. These odds serve as indicators on the expectations of a sports event like Cricket. However, because of the difference in betting odds offered by diverse betting sites like Fun88, the demand for the site that proffers the best online cricket betting odds is high.
However, with the intangible information divulged in this piece, not only will bettors be equipped with the knowledge, application techniques and source of these odds, but they’ll advertently possess the betting skills to maximize profits and achieve success in their professional betting fields.