Cricket has developed and changed over the last few years. As a sport, it has become even more exciting and enjoyable. The three main formats: test matches, one-day internationals and Twenty20 all bring something different to the game. The game has technical intricacies and fast-paced action from the IPL, or Indian Premier League, to big international tournaments.
If you’re a fan of cricket and thinking about sports betting, then you’re about to encounter a new world of fun. However, there are some things you’ll need to know to make the most of your cricket bets. Understanding cricket odds is crucial, which is why this guide will cover reading and comparing odds for cricket bets.
Cricket Odds At 10Cric
A great place to explore your options with cricket betting is 10Cric - it has a huge choice of cricket markets and bets. The site focuses on the sport, and also has an easy to navigate layout, which makes it ideal for beginners who are learning to read odds.
You’ll find the top action on the main cricket betting page, as well as an IPL news section, and a good live betting section. You can switch between the top leagues, other main tournaments, live cricket and all other leagues. On these pages, you’ll see the 10Cric odds for full-time winner bets. If you click on an event, it will open a dedicated page showing bets for other available markets.
You can also display events by country. If you click on cricket on the sports menu, it will expand to give you options, such as India, International, UK, Australia, and more. If you’re looking for places to start exploring the odds, then you’ll find bets on The Ashes, IPL, Cricket World Cup and others.
Understanding Cricket Odds
There are two steps to understanding the odds at 10CRIC that you find for cricket. One is knowing what the odds are telling you, which is covered in the next section. The second is understanding cricket bets and how those are displayed.
The most popular type of cricket bet is the match outcome wager. Whenever you see an event listed, this will be the main bet shown. If the match has limited-overs, then you’ll have the two options of either side winning. Test matches will also have odds for a draw.
Another common bet type is leading run-scorer or leading wicket-taker. This could be for an innings or a match, and you’ll see odds on individual players. You’ll find other wagers like the man of the match or prop bets, like the number of boundaries and the total number of fours and sixes scored in the match, for example.
How Do Bookmakers Set Odds
Bookmakers use research, information and algorithms to set their odds. This gives them an idea of each team’s predicted performance. That isn’t the only influence, though. Bookmakers also need to add a margin to guarantee their profits.
They can also be impacted by which way the public is betting. The online bookmakers might shift the odds in a direction to encourage more bets on the team that no one is backing. This helps them to balance the payouts.
What Do Odds Tell You
Now that you know how to look out for the odds for different cricket bet types, your next step is to understand what they tell you. There are two key pieces of information to take away when you look at your cricket bet. They are probability and your prospective winnings.
For example, if you were looking at a bet on the England vs West Indies, you might see odds like these:
|England vs West Indies||1/4||6/1||7/1|
The odds under 1 mean a win for England, X means a draw and 2 are the odds for West Indies to win the match. You can convert 1/4 into a percentage that shows implied probability.
The formula is 4/(4+1) x 100 = 80%. On the other hand, at 7/1, the implied probability for the West Indies is 1/(1+7) x 100 = 12.5%.
Once you know the implied probability from the bookmaker, you can do your own research to determine whether an outcome is more probable than predicted. This is how you find value cricket bets.
1/4 odds also tell you about the payout for your cricket bet. If you bet on England to win, you will get £/€/$1 of winnings for every £/€/$4 you bet. Or if you bet on the West Indies, you’ll receive £/€/$7 for every £/€/$1 you bet if you win. Not only can you calculate your final payout, but the odds will influence how much you stake when placing a cricket wager.
How Odds Are Displayed
You’ve seen the odds in the fractional format in the explanations above that will help you to calculate both implied probability and payout. This is common in the UK and in some other countries. However, you might see them displayed in other ways. To understand them, you could use a converter to help you complete your calculations or change the display format.
At 10Cric, you can choose between several popular odds formats for your cricket bets. They include Fractional, Decimal, American, Hong Kong, Malaysian and Indonesian. Here’s what each of those would look like:
- Fractional: 2/7
- Decimal: 1.29
- American: -350
- Hong Kong: 0.29
- Malaysian: 0.29
- Indonesian: -3.5
From this, you can see that decimal odds share some similarities with Hong Kong and Malaysian, and Indonesian odds are closer to American ones. A minus number for American or Indonesian odds shows that you’re betting on the favourite. For Hong Kong and Malaysian, a decimal below 1 shows that the team you’re backing has a higher implied probability.
If you want to calculate your payout using decimal odds on a cricket bet, you can use a different formula. In this case, (1.29 x £/€/$10 stake) - £/€/$10 stake = £/€/$2.90. You can also work out probability using decimals with this formula (1/1.29) x 100 = 77.5%.
All About The Odds
You’re now in an excellent place to make a cricket bet at 10Cric. You’ll find lots of choice with this bookmaker, and the numbers will all make sense. You’ll recognise the different cricket bets, and understand the odds in terms of payout and probability.