How to bet on Cricket?
You have never bet in cricket before? Don’t worry we have you covered. Here are a few simple steps on explaining cricket betting online.
Cricket is a complex and strategic sports, cricket betting on the other hand is much simpler. You have already chosen your online bookmaker from our list of cricket betting sites above, deposited and are wondering how to bet on cricket.
Step 1. Educate yourself on cricket betting types. There are a lot of cricket betting types to choose from, the two main are Pre-match and Live betting. Their names are self-explanatory. Other most popular cricket markets (bet types) are:
- Moneyline (winner 2-way) – you have two options to bet on home or away team to win
- Moneyline (winner 3-way) – you have three options to bet on home or away team to win, or option three – Draw
- Team to win Toss
- Runs in First X number of Overs – how many runs with the batting team achieve in X amount of Overs
- Man of the Match
Step 2. Analyze the odds – the higher the odds, the lower the probability for you to win the bet
Step 3. Place your bet – very simple, click on the betting odds of your preferred choice, type in the amount you want to bet and click on Place bet!
Voila! You have placed your first bet on cricket!
Step 4. Wait for the game to be over to collect winnings – most reliable bookmakers offer the option to cash-out your bet even before the match has ended.
What is cash-out?
By Clicking on the cash-out button you are acknowledging that you would like to take part of your winnings or minimize your loses before the event you have placed your bet on is finished.
For example, you have placed a bet on the IPL on Chennai Super Kings at odds of 2.00 for 1000 INR to win the match against Delhi Dare Devils.
Option A: game is going well for Chennai and they have greater chance of winning, thus The Kings odds lower to 1.56 (their chances of winning have become greater). The bookmaker will give you an option to cash-out 1355 INR* and settle your bet.
But why should you cash-out if you can wait win 2000 INR after the end of the game? That is entirely up to you, by cashing out in this you are minimizing your risk and taking on sure profit
Option B: the game is not going so well for Chennai, and the odds are raising to 2.50, bookmaker gives you an option to cash-out 400 INR*. Yes, it is a lot less than 1000 INR, but what would you prefer wait for the end of the game and potentially lose 1000 INR or minimize your losses.
*Cash-out amounts are exemplary! Each bookmaker has its own complicate algorithms to determine what is the exact cash-out amount to offer to a player.
How do cricket betting odds work?
Betting odds look complicated, but they are really very simple! Online bookmakers define the betting odds on the basis of two aspects. The probability of an outcome for which they employ their experience, use the past data and make some suggestions. There are three main types of odds in online betting: Decimal, Fractional and American.
- Decimal odds show the total amount you will receive if your bet wins for every 1 unit you stake. Decimal odds will include the initial stake in the total winnings rather than just the pure profit. Important to note is that when using decimal odds, your stake is calculated into your potential total winnings.
Your Stake x Odds = Return (total winnings)
If India are favorites to win the Cricket World Cup at odds of 4.50 and you stake INR 100 on them to lift the trophy: INR100 stake x 4.50 odds = INR450.00
You would win INR 450.00 if India win, which is made up of the INR100.00 stake and INR 350.00 profit.
To breakeven you should place your bets on odds 2.00 for decimal odds – why? Because the return (total winnings) will double your stake. Decimal odds below 2.0 will give you less potential return than your stake. Odds above 2.0 will be plus odds, meaning your potential pure profit will be more than your stake.
- Fractional is another betting type. This betting odds work with two columns each separated by a flash “/”. The left-hand number signifies the amount which will be returned for the amount that is placed in the right-hand number.
If you had odds of 5/1 you would get back 5 units (left-hand column) for every 1 unit (right–hand column) you wagered.
If you bet INR 10 at odds of 3/1 you will received INR 30 profit if you win..
Fractional odds allow you to calculate how much money you will win on your bet in comparison to your stake.
9/1 for every INR 100 you bet, you will win INR 900. This can also be calculated as 1 / (9 + 1) = 0.10 - There is a 10% chance that the event will happen.
1/1 for every 100 INR you bet, you will win 100 INR. This can also be calculated as 1 / (1 + 1) = 0.50 - There is a 50% chance that the event will happen.
1/4 for every 100 INR you bet, you will win 25 INR. This can also be calculated as 4 / (4 + 1) = 0.80 - There is an 80% chance that the event will happen.
Decimal Odds Versus Fractional Odds
Most people tend to use Decimal odds as they are more straightforward. Historically the fractional odds were and are mainly used in the UK, especially on racetracks and on the high street. Generally decimal odds are easier to understand. The difference comes between decimal and fractional odds is that the decimal total winnings include your stake back!
- American odds: The odds for favorites are accompanied by a minus (-) sign, indicating the amount you need to stake to win $100. Meanwhile, the odds for underdogs are accompanied by a positive (+) sign, indicating the amount won for every $100 staked. Either way, you get your initial bet amount back, in addition to the amount won. The difference between the odds for the favorite and the underdog is bigger as the probability of winning for the favorite increases.
Calculating odds – Positive moneyline: Odds x (bet / 100)
Calculating odds – Negative moneyline: (100 / Odds) x bet
If you bet INR 10 at +200 on India and won, you would receive INR 30 back - made up of your INR 20 profit.
200x (10/100) = 200x0.1=20
If you bet INR 10 at -200 on Hong Kong and won, you would receive INR 15 back – made up of your INR 5 profit.
Can you win money from online betting?
The answer to this question as easy it may seem is not “Yes” or “No” – in online betting there is always a chance to win or lose. Of course, there are ways to maximize the chances of winning. We will give you a few tips to help you get the most out of your cricket bets:
- Do your research – before betting always check and analyze the teams that you are betting on – how did they perform in their last few games, which formats (T20, ODI, Test) are they strong in, do they have missing key players – all of these factors can affect the result. In order to place a bet with the maximum chance of winning you as a player need to be aware of the statistical analysis for the teams. Fortunately, we have free daily cricket betting tips to help you miss this step.
- Never bet as a fan – passion and affection towards a certain cricket team are great, but not in betting! You should be completely unbiased when placing your bets. The fact that you are a fan of a certain cricket team, does not mean that he will necessarily win.
- Educate yourself about betting odds and betting types – always bet on bet types that you are aware of how they function. For example, team to win the game is a very obvious and straightforward bet type, also known as 1x2 and Moneyline. It is the bet type majority of players place their bets on. However, there is a wide variety of other bet types: Fall of 1st Wicket, Number of Runs in 10 overs, Ball by Ball – you need to understand what their odds represent and what you are betting on. If you are not aware of a certain bet type always check and educate yourself. Knowledge equals advantage in betting!
- Be aware of your profit – it is not an easy task, you need to be aware of how much bet bets you have placed (turnover), how much is won and lost, and of course what is your profit. Best way is to keep an excel table with the following columns: amount placed, odds, profit. If the bet is lost the profit equals the negative amount of the bet amount. If the bet is won, the profit equals the bet amount placed x the odds = winnings; winnings – bet amount placed = profit
- Don’t drink and bet – obvious one, but yes, don’t do it. Alcohol and betting do not go well together.
- Don’t bet for the winning itself – don’t get us wrong, of course you want to win. But don’t bet only for the sake of winning, betting should be fun and bring you emotion. If you feel bad when you bet, or that you have any problem with betting, please visit gambling addiction related sites such as: gambleaware.co.uk
Follow these simple steps and maximize your winning chances. Remember that you should bet for the fun of it, even the best bettors have an average winning ratio between 50%-60%. Do your homework, analyze the teams and be aware of your profit at all times.
Which cricket tournaments can I bet on?
Betting online on cricket is limitless. You can practically place a bet on almost any tournament that the market offers odds for. Online sites takes cricket betting a higher level, providing instant access to all of the most exciting cricket tournaments and series. You can place a bet on cricket games and competitions from across the world:
- ICC Cricket World Cup (CWC) – Which cricket fan has not heard of the cricket world cup? One of the most exciting competitions in the world of Cricket. The ICC World Cup is held every 4 years, where there are ten participating teams that have qualified as a result of 5-6 years qualifications
- ICC Champions Trophy – The 2nd most well-known world tournament, aka the mini Cricket World Cup. The next event from this tournament will be held in India in 2021.
- T20 World cup - Probably the cricket tournament with the biggest sixes. The T20 tournaments have always offered high intensity and lots of surprises. Cricket fans from all over the world are always thrilled to watch this kind of games.
- Ashes Series – As if the several types of World cup tournaments were not enough, here we have the biggest clash between two continents and two nations - England and Australia. Even if you are not a resident of any of these countries, for sure you will fancy to place your bet on the Ashes series.
- Indian Premier League - IPL – The most famous tournament in India. IPL is can probably compete with any cricket world cup tournament in terms of public interest inside India. All the best players form the world participate in thrilling T20 matches. Choose any of our cricket betting sites to place your bets on the IPL. You can find best betting sites for IPL 2019 with us!
- Asia Cup – Would be exaggerated to say it is a very famous tournament, however it is yet another opportunity for Asian teams: India, Pakistan, Bangladesh, Sri Lanka, UAE etc. to check their current form and in the meantime try and win the Asia Cup. Prepare for one of the most popular ODI tournament on a national level.
- Test Matches - This is the longest high standard cricket series. The high-class cricket matches are exciting, which makes them perfect for betting.
With the ever-growing interest on online cricket betting it is not a surprise you can bet on a large variety of domestic leagues: Tamil Nadu Premier League, Plunket Shield, The Ford Trophy, Sheffield Shield, Mzansi Super League, Caribbean Premier League, Big Bash League, Super Smash, Pakistan Super League, T20 Blast. You can be sure to expect more tournaments available for betting in the future such as: Ranji Trophy and Vijay Hazara Trophy (odds yet not avaible).