What are cricket betting rates? How are they associated with cricket betting? And why do you even need to care about them? If you’re wondering any of these things, you’ve landed at the appropriate place!
While on your way to betting on cricket, you must have come across this term; cricket betting rates. And if you’re a starter and don’t have any prior knowledge of cricket betting, it’s obvious to feel stuck.
Lucky for you, we have come up with a comprehensive guide of odds. Below, we will discover what cricket betting is, how to understand them, and how to make the right use of them!
What Are Cricket Betting Rates?
First things first, cricket betting rates are often referred to as odds. In the simplest language, cricket betting rates or odds are something that tells you about the certainty of a desired outcome. Every match comes with different odds.
What’s more, you’ll find different betting odds or cricket betting rates at different betting sites. And they will keep changing with time too.
Now you might be wondering why there’s so much variation in cricket rates?
Here’s the thing- every betting site create their own set of odds by understanding probabilities, applying math, and adding a little profit to it.
Along with that, every small news affect betting odds. Players’ performances, past performance, and any injuries also help in determining odds.
How To Understand Cricket Betting Rates?
Cricket betting rates are present for every match that’s being held. That’s why it’s super important for you to understand betting rates if you want to make money in long run.
Cricket betting rates are presented in two most common ways. The first one is the decimal method and the second one is in fractional method.
Decimal Method Odds
Let’s take an example to understand the decimal method odds better. Assume that Bangladesh is playing against India.
The odds offered at a bookmaker in decimal method are displayed as; India (2.50) and Bangladesh (1.50).
According to the odds offered, betting on India will be more favorable for you as the odds are higher. If you bet an amount of 100 Rs on India, you’ll get 250 Rs in return. Meaning, you’re earning a profit of 150 Rs here.
On the other hand, if you place a wager worth 100 Rs on Bangladesh, you’ll only get 150 Rs in hand. The profit made is only of 50 Rs.
As a result, just multiply the odds with the bet amount and you’ll get the amount you can expect to make!
Fractional Method Odds
The second method of displaying odds is the fractional method.
The different sides of methods don’t have anything to do with the efficiency or effectiveness. It’s just a way to depict the odds.
Again, to have a clear understanding of the fractional method, let’s take the previous example once again.
In fractional method, the odds are displayed as; India (2.5/1) and Bangladesh (1.5/1).
The explaination of this method is also the same as the above. A bet of 10 Rs on India will give you 25 Rs. And a betting 10 Rs on Bangladesh will return you 15 Rs. As simple as that!
How Does Cricket Betting Rates Help You?
You now know how to understand cricket betting rates. Let’s discuss the most important point; why is it important to understand betting rates?
- Helps You Calculate How Much To Wager
Understanding betting rates helps you find how much to bet on any certain event. The higher the odds, the more will be the payouts. The odds help you understand your potential to win in any certain bet or game. That’s why it’s important to have a clear understanding if you don’t want to put your money into unnecessary things.
- Assist You Find The Best Betting Site
It gets you insights on playing at the best betting site. It allows you to understand how good a site would be in terms of returns. Based on that, you can choose the one with the highest competitive odds.
Cricket Betting Rates- One Last Word
In order to be successful in cricket betting in the long run, you need to be capable enough to have an understanding of odds. If done right, you never know when you can score a big win! You can also create several accounts and leverage great opportunities at different sites!