Cricket Betting Odds – How It Works and How to Calculate Odds 

Cricket betting odds help you understand the probability of an event taking place in a cricket match. If a strong team takes on a weak team, the chances of the strong team coming out on top will be higher as compared to the weaker team. The entire process of setting and showing odds depends on this. 

Betting on cricket is popular, as the sport is well-received and loved across the country. There is also a huge potential to win amazing rewards through online cricket betting in India. However, it all stems from understanding live cricket betting odds. 

Importance of Understanding Live Cricket Betting Odds 

If you are new to cricket betting, then it might be an overwhelming task to read the odds. Let’s make it simple and clear. You will bet depending on the odds, and your winnings are affected by the odds.

• If Team A is likely to win, Team A will have lower odds. 
• If Team B is likely to lose, Team B will have higher odds. 

Basics of Online Cricket Betting Odds

Online cricket betting odds live are generally expressed as a decimal. For example, you might have seen odds like ‘1.7’, ‘1.90’, etc. 

• For odds of 1.7, you will get ₹170 when you place a bet of ₹100, provided that you win the bet. 
• The ₹170 includes your ₹100 bet amount plus ₹70. Odds are generally indicative of the probability of a certain outcome taking place.

Decimal cricket odds are one way to represent the probability of an event taking place. These odds are crucial when you are figuring out how likely an event is to occur.

How to calculate Odds in Cricket – Formula for Cricket Betting Odds

Based on the odds and your bet amount, the following formula can be used to calculate your winnings:

Winnings = Odds x Bet amount.

Example for Calculating 

Let us understand the odds with the help of the following example:

Assume that India is to play against Bangladesh. 

• The odds offered are India (1.42) and Bangladesh (3.72). 
• As per these odds, with the bet of ₹100, a winning bet on India will give you ₹142, and a winning bet on Bangladesh will give you ₹372.

Where can you get cricket odds? 

There are two possibilities where you can find cricket odds. 

1. Online Sportsbooks 
2. Betting Exchanges

The calculations differ and vary, as the betting process is different. For instance, there is no Back & Lay option on sportsbooks, while it is the core for Exchanges. 

Will cricket odds change during the match?

Yes. If you have noticed, the odds keep changing as the game progresses. There are multiple reasons for that. The following are three crucial factors based on which the cricket betting odds change:

• Team’s performance
• Format of the game
• Platform that offers the odds

One of the most important factors on which the odds depend is a team’s performance. For a team that is in great form, the odds will be low. Another crucial factor is the format of the game being played. For Test matches, the odds may not change so often. For T20s, it will be more volatile. The third major factor is the platform itself. Each platform has a different set of parameters to assess odds. 

Key Points to Note

There are a few key pointers regarding online cricket betting odds that you should take into consideration. 

1. Pay attention to the odds; you will get an understanding of how likely that event is to occur.
2. If you want higher returns, bet on underdogs. At the same time, never ignore the obvious. 
3. While placing bets, make sure that you can watch the live match as well. This will empower and enable you to make informed cricket betting decisions.

Concluding Thoughts

Cricket betting odds determine your winning amount. Also, based on the betting odds, you can understand the likelihood of an event taking place. If you are planning to bet on odds, know how cricket betting odds work.

For More Info You can also Read About CPL Winners List

FAQs on Cricket Betting Odds