Wondering how to understand cricket betting rates? They are very easy to understand and are actually something you must know before you start putting your money on the line. Let us start with the basics.
What are cricket betting rates?
Cricket betting rates are the odds that you get on a particular match. These rates can differ from one bookmaker to another and will continue to change with time. Bookmakers apply probabilities, complex math, and add a bit of margin to come up with these rates.
Player injuries, head to head performances, past performances, and current form can all affect the cricket betting rates so every bit of news affects them.
How to understand cricket betting rates?
Cricket betting rates are most often displayed in one of two ways:
The first is the decimal method.
In this example, India is going to be playing against Australia.
Odds offered: India (1.50), Australia (2.50)
According to the bookmaker, India is the favorite for the match and so Rs. 100 bet on India will return a total of Rs. 150. Australia is being treated as the underdog and so Rs.100 bet on Australia will return 250. Just multiply the odds with the bet to calculate your total return.
The second method is the fractional odds method.
Let us once again consider the same example but with the odds represented in the fractional system.
Odds offered: India (1.5/1), Australia (2.5/1)
The way to read these odds is that every INR 1 bet on India will return INR 1.5 while every INR 1 bet on Australia will return 2.5.
Why is it important to understand betting odds?
Apart from calculating how much money you stand to make on a bet, you also need to know cricket betting rates so that you can find the best rates across different sportsbooks. Make multiple accounts to take advantage of the competition and always be ready to jump on an opportunity!