You may have heard a lot of fans or even experts on TV speak about the ‘favorite' for a match or maybe the ‘underdog'. All these are terms that are taken from the betting world. A favorite or the underdog is determined by the odds that the bookmakers are offering.
If you have any sort of interest in cricket betting then you need to be able to understand these odds to make an informed decision. What are odds in cricket betting?
Let us help you understand right now.
What are odds in cricket betting?
Odds are a statistical representation of the probability of an event happening or not. The bookmakers (like 1xbet, betway, or casumo) do their own research and then come to these odds. The math behind this calculation does not make any difference to us. What does matter is that you know how to read these odds.
It may interest you: How to play 1xbet cricket?
Let us say that there is a cricket match between India and Bangladesh. The bookmaker is likely to come to the conclusion that India is the favorite in this contest and offered odds accordingly. You may see something like India (1.20) and Bangladesh (3.50).
This means that INR 100 bet on India will return 100 x 1.20 = 120 while the same bet on Bangladesh will return 100 x 3.50 = 350.
Of course, you should always know that risk associated with each bet is proportional to the odds being offered. You may find some opportunities to be able to bet with excellent odds being offered but those bets do not pay out very often.
What are odds in cricket betting? Odds can be different at different bookmakers and this is why you should have more than one account so that you are able to always get the best odds available.
If you have to assume the risk of betting then you must get the maximum return possible. Good luck!