Cricket no longer serves to be a gentleman’s game, it has actually evolved a lot over time. From being just a sporty emotion to a betting relationship, and now when it comes to cricket not talking about the cricket betting is insane. From betting on overall match outcomes to specific teams and now betting on every small event of the match that turns out to be a big spot, betting has evolved. But the thrill in live streaming of cricket betting comes when the cricket odds fluctuate every moment, and that goes unmatched. So to make your betting experience exhilarating, Bet Post is available to give you a deep insight into cricket betting odds. From their calculations to small tips for understanding it, everything is covered underneath.
What is Cricket Betting Odds?
Before scooping out the live actions and the importance of cricket betting odds, let us first know well about it. These are the numerical representations of the probability of a particular outcome in the match events. This includes the overall winning of a team, players scoring runs or boundaries, bowlers getting wickets, and so on. The representation of cricket odds is done in three different forms: American, decimal, or fractional each with a separate base and calculating format. When we talk about the cricket odds, there are generally two types one that is pre-decided before the match and the one that goes on changing with each moment unfolding in the live streams.
However, the influencing factors of cricket odds live include:
- Overall Runs: The shifting of odds and their continuous fluctuations in graphs depend largely on the current runs of the match significantly leading to increment or decrement in the betting odds.
- Wickets: The wicket of an important player can drastically change the betting odd value, as the falling of wickets is the key reason for the fluctuation of the odd values.
- Run rates: The rate at which the batting team is scoring runs affects the betting odds, as the higher run rate in the match shorters the odds.
- Weather: the change in weather conditions like a forecast of rain or mid-light can affect the betting odds largely, as the bad weather affects the overall match and the playing conditions.
- Betting Market: The crow on betting for similar events generally has a risk of lowering the betting values, which means if a large number of people are betting on the same events in a live or in-play betting then the bookmakers tend to shift bet odds to lower values limiting their own risks.
How to Calculate the Different Betting Odds?
We know there are typically three types of cricket betting odds; American odds, decimal odds, and fractional odds. Bet Post provides you with a complete guide to calculating them by yourself.
1 Decimal Odds: These bets are generally used in Australia & Europe and show the numerical representation of the amount a bettor will receive for betting, each unit stake including the original one. Formula: Decimal Odds = 1/Percentage of the event probability.
For example: If you are placing a bet of Rs 1000 to A team winning with decimal odds of 2.50. Then for the successful bet, you earned Rs 2500 in total, which includes Rs 1500 as profit and Rs 1000, the original stake.
However, in case of the live betting the odds tend to fluctuate probably 2.50 increasing to 3.00 for a fall of wicket, you get a potential amount of Rs 3000 with a Rs 1000 stake at 3.00 odds.
2 Fractional Odds: These odds are generally used in the UK that show the odds of an event in a match representing the profit a punter would earn with each unit staked in the live or in-play betting odds.
Fromual: Fractional Odds = Profit/Stake
For example: If you place a bet of Rs 1000 for 5/2 fractional odds for the win of team A. Subsequently, you will get a potential payout of Rs 3500 which includes Rs 1000 as stake and Rs 2500 as profit.
However, in terms of live betting the fractional odds also change with multiple events unfolding in the match, like an odd changing from 3/1 to 5/1 at a stake of Rs 1000 the potential amount earned by a bettor will be Rs 6000 with Rs 5000 as profit and Rs 1000 as a stake.
3 American Odds: These are the different and unique types of odds used widely in the US and known as moneyline odds as well. so here there are basically two types of odd:
- Positive (+) Odds: These odds tell how much payout a punter will make from a Rs 1000 bet on an underdog event.
Formula: Profit = Positive odds x Stake/100
For example: If you bet Rs 1000 for a team to win with odds +150, then the potential payout you make is Rs 2500 with Rs 1000 as your stake and Rs 1500 as the profit.
- Negative (-) Odds: These odds tell how much money to be wagered in order to win Rs 1000 for a favorite event.
Formula: Profit = 100xStake/Negative odds
For example: If you bet Rs 1000 for a team to win with odds -200, then the potential payout you make is Rs 1500 with Rs 1000 as your stake and Rs 500 as the profit.
Bet Post, is thus a site that helps its users in many ways from providing a deep insight about cricket betting odds, a list of best cricket betting apps, strategies to work on cricket betting for making more payouts, and others. Thus, every punter whether a beginner or a learned bettor needs a game-changer site that would help them to excel in their journey and give a deep knowledge about everything under one roof. This site, however, comes with a user-friendly interface providing every tips-tricks and cricket odds live at your fingertips making it a seamless process. So always remember betting on cricket or any sort is not just about betting but rather about strategies, planning, insights, timing, and mastering the live or in-play betting odds.
