If you’re familiar with cricket betting, you’re probably already aware of betting odds, but for the benefit of newcomers, it is important to get to grips with the concept.
Cricket-betting odds are figures that represent the likelihood of an event occurring in a cricket match. They also determine how much money we can win by placing bets.
Odds are available in a variety of formats, including fractions and decimals. The decimal format is the most popular in India, but with a well-known operator like bet365 cricket betting customers can usually choose their preferred type of odds. When employing decimal odds, events with a high probability of occurring have lower odds, whereas those with a low probability of occurring have high odds.
Take, for example, a Test match in Chennai between India and the West Indies. India is recognized for being extremely strong at home, whereas the West Indies are not known for being the best travelers. The odds on India winning the match will be relatively low, say 1.23, while the odds on the Windies winning the match can be as high as 9.87.
Why are Odds Important?
When you place a bet, the odds you receive decide how much money you will make if you win. Before choosing a bookmaker for cricket betting, therefore, players must ensure that they are getting competitive odds. It can be difficult to find a site that offers the most competitive cricket betting odds because most bookmakers keep their odds tight, but it is important to be persistent.
Switching from your current bookmaker to a new one may seem daunting at first, but if the other cricket site has better odds, you should make the switch without hesitation.
How to find the Best Odds
First you need to know how to transform odds into probabilities and percentages, but this is relatively straightforward. All you have to do is to divide the decimal odds into 1. If you want to convert those probabilities into percentages, just multiply by 100.
For instance, if Chennai Super Kings are quoted as 2.1 by a bookmaker, the probability can be calculated by making this calculation: 1 / 2.1 = 0.47 and the percentage is 0.47 * 100 = 47%
Using these quick calculations you can easily compare odds at different bookmakers, and find the best betting option. You may also be able to use odds checking sites that will help you to identify the best odds for a particular selection, to save you the time of checking each site individually.
Finally, you need to be prepared to be patient and put the work in to find the best price. This may be boring work sometimes but it could pay significant dividends. Given the fine margins to which sports bettors operate, then regularly finding the best odds can make the difference between cricket betting failure and success.