Odds are a statistical representation of probability. Bookmakers use them to offer bets to their customers and so understanding odds is a must. Odds work the same way across all sports, however, there may be different methods of representing these them. Let us see how to understand Bet365 cricket odds as an example on the betting sites.
Odds on Bet365
Bet365 India uses the decimal method to represent odds by default. You can change this if you like the fractional method better but they both mean absolutely the same thing.
Odds may be written 1.50 or 1.5/1. In both cases, you stand to make 1.5x times your betting amount as return.
How to understand Bet365 cricket odds?
Cricket betting odds are exactly the same. Let us explain the meaning of some typical cricket odds.
India is playing against Australia at the Gabba in a test match. You want to be on the winner of this match so you will navigate to the appropriate bet. There you will find something like this:
Australia – 1.50
India – 2.50
Clearly, Bet365 in this example thinks that Australia is the favorite to win the match. If you like the odds, you can bet Rs. 1000 on Australia to get Rs.1500 back. Thus, your winnings are Rs.500.
On the other hand, you can choose to back the underdog, India in this example, and get Rs. 2500 for the same Rs. 1000 bet. This way you win Rs. 1500.
Learning how to understand Bet365 cricket odds is important so that you know how much you stand to win. You can make multiple betting accounts and search for the best return for your money. As importantly, you can also find errors in the win estimation by the sportsbook and take advantage.
You must be able to read odds quickly before using real money to bet on cricket or any other sport.