Understanding the different types of cricket betting odds can seem like a tough and confusing experience. However, knowing how these odds work is the only proven way of becoming a cricket betting pro.
To help you out as you begin this new journey, we will be telling you how you can read cricket betting odds and calculate your winnings in this guide.
So keep reading to discover how odds are represented in your favorite Indian betting sites.
What are cricket betting odds?
In sports betting, odds are used to represent the chances of getting a particular outcome for a match. Odds are also used to calculate the potential profit a bettor can get.
Types of cricket betting odds
There are three types of cricket betting odds and they are calculated differently. Below, we give you a comprehensive explanation of each type and tell you how you can calculate your precious payouts.
Decimal odds are the most popular types of odds in India. In fact, all the honest IPL betting sites we know always offer decimal odds. These odds are the easiest to calculate and your payouts can be expressed in the following formula:
Payout= stake x odds
So for example, if the odds of a certain match are 4.00 and you wager ₹100. The total amount you’ll get if the bet becomes successful will be 4 multiplied by ₹100 which is ₹400.
Keep in mind that this amount will include your initial stake. So to calculate your profit, subtract your initial wager from the payout. In our example, that will be ₹400 minus ₹100 which is ₹100.
Fractional odds are presented in the form of fractions. They are also a popular choice for many Indian betting sites.
Calculating fractional odds is a simple task. For example, you may find your bookmaker offering fractional odds of 5/1. Here, you’re going to win ₹5 for every ₹1 you wager and you’ll also get your initial stake back. So if you wager ₹100, the total payout will be (5+1) x (₹100/1) = ₹600.
American odds (moneylines)
Moneylines are always expressed as positive or negative numbers. For example, Team A can have odds of -600 while Team B can have odds of +400. A positive number shows how much you will win for every ₹100 staked, while a negative number shows the amount you need to bet in order to win ₹100.
This also means that positive odds show the underdog while the negative show the bookmaker’s favourite.
So, if in this situation where Team A has odds of -600 and Team B has odds of +400, a bet on Team A will have a payout of ₹600 (original wager) + ₹100 (winning amount) = ₹700. The profit here is only ₹100.
On the other hand, a bet on Team B will reap a payout of ₹100 (original wager) + ₹400 (winning amount) = ₹500.
American odds are often considered difficult to calculate, but we can assure that they are just as popular as decimal and fractional odds. In fact, there are many IPL betting sites with highest bonuses offering American odds.
Have fun betting on cricket!
We truly believe that learning how to win cricket betting highly depends on the kind of odds you’re working with. You can find the best cricket betting odds in India by registering at licensed and reputable sites.
By choosing the best sites, you’ll also enjoy additional features that will make your cricket betting journey. From generous bonuses to a wide range of banking options, there’s so much waiting for you in the Indian cricket betting universe!