How To Understand Betting Odds In Cricket

• How To Read Betting Odds
• How To Understand Betting Odds In Cricket
• How To Understand Betting Odds In Cricket World Cup
• How To Understand Betting Odds In Cricket Match
• How To Understand Betting Odds In Cricket Match
• How To Understand Betting Odds In Cricket Score

So the probability of either one of the result to happen, say 5, is 1/6, which is 16.67 in the decimal form. Let us understand how this is used to calculate the betting odds. Fractional format. How is the likeliness of an outcome calculated? Probability is typically calculated in terms of percentage for ease of understanding and simplicity. Similar to decimal odds, the return can be determined by multiplying the odds and the bet. Above, 100 times 2.5 (5/2) equals 250. In horse racing, odds will dip to something like 3/5 or 5/7 which usually means that horse is a big favorite. A 3/5 favorite is equal to -167 in American odds and 1.6 in decimal odds. Read More Sports Betting Q&As.

In order to understand odds in sports betting, it is important first to understand some basics. The simplest example of odds is a two sided coin, heads and tails. Each time the coin is flipped there is a 50% chance that it will land on heads and a 50% chance that it will land on tails. Both of these percentages add up to 100%, where the probability of all possible outcomes must adds up to 100%.

To put it simply, the odds are the probability of a certain outcome. The way they are displayed in various forms helps punters identify how they will be paid on the various odds. We will show you how to read betting odds by explaining how they are notated as well as betting and payout examples. Be sure to see our odds notation conversion chart at the bottom of the page.

Odds Notation: Decimal Odds, Fractional Odds and American Odds

You will notice that odds are sometimes displayed differently. We will explain the main odds notations you will see at various sports books. Often sports betting sites will allow for punters to choose the way the odds are displayed. Just keep in mind that they are ultimately displaying the same odds, just in a different way. It is good idea to be familiar with all types in case you are not given the choice, but find a good site that provides favorable odds. It is a personal preference, but I typically like to use the decimal system when available. It is the most straightforward.

Decimal Odds (European Odds): 4.00

This form of odds divides 100 by the number percent of a certain outcome (100/%chance = decimal odds). For instance, if a particular team is given a 25% chance to win outright, the Decimal Odds on such an event would be 4.00 or (100/25 = 4).

Payout Structure: If you were to place a bet on these odds and win, you would get a 4 to 1 payout. So for every 1 unit of currency played, the player would receive 4 back in total payout if they win. Notice that this includes the profit of 3 and initial bet of 1.

(Decimal odds x Initial Bet = Total Payout)

Betting Example: Let’s suppose you bet Rs. 1000 on decimal odds of 4.00 and you win. The math would be as follows: (4 x 1000) = Rs. 4000 Payout. Again, this will include your profit + initial bet.

Fractional Odds (English Odds): 3/1

This system of notation is typically found among UK bookmakers. This odds notation is expressed in a fraction. If we used 25% again, the fractional form would be 3/1. This expression is saying that for every 4 occurrences (3+1), a negative outcome will occur 3 times and a positive outcome will occur 1 time. Another way to look at it is a ratio of losses to wins (Losses/Wins). To calculate your profit, simply divide the numbers and multiply it times your initial bet.

Payout Structure: If you placed a bet on 3/1 odds and won, you would win 3 units, plus your initial unit bet for a total payout of 4.

(Fractional Odds x Initial Bet = Profit) => (Profit + Initial Bet = Total Payout)

Betting Example: So, if you placed a bet of Rs. 2000 and won on these odds, you would ‘win’ Rs. 6000 and also receive your original bet of Rs. 2000 for a total payout of Rs. 8000. Where 3/1=3, and 3 x 2000 = Rs. 6000 in profit. Again, you would also get your initial bet back of Rs. 2000 for a total payout of Rs. 8000.

Let’s say the odds were 3/2 instead. The math would look like this (3/2 = 1.5) => (1.5 x 2000 = Rs. 3000 Profit ) => (3000 Profit + 2000 Initial Bet = Rs. 5000 Total Payout).

American or US Odds: +300

You will notice that a lot of US facing bookmakers use this notation. These odds are sometimes referred to as “lines” or “money lines”. This notation is easier when betting in $100 increments, but of course it can be used for smaller bets as well.

It uses (+) or (-) as standard notation. A plus sign (+) indicates how much will be won in profit for a 100 unit bet. A minus sign (-) shows how much is needed to bet in order to win 100 units. For the same 25% odds, the American Odds notation would be +300.

Payout Structure: For US odds of +300, you would ‘win’ 300 units for every 100 bet, and receive your initial bet of 100 for a total of 400 units. If the odds were -150, you would need to bet 100 in order to ‘win’ 150 for a total payout of 250.

Betting Example: If you bet $100 on +300 American odds and won. You would ‘win’ $300 and get your initial investment of $100 back for a total payout of $400.

Let’s say you bet $50 on the same +300 American odds and won. In this case you would win $150 in profit, plus your initial investment of $50 for a total payout of $200.

If you bet on -150 odds, in order to win $100, you would need to bet $150. If you won, you would receive your profit of $100, plus your initial bet of $150 for a total payout of $250.

Let’s say you bet $75 on the same odds of -150. If you won the bet you would receive $50 in profit, plus your initial investment of $75 for a total payout of $125.

Odds Conversion Chart

How to Bet on Cricket - Quicklist

Here is a short list with the steps you need to complete in order to be able to start betting on cricket online:

1. Choose a Betting Site and Create Betting Account
2. Choose a Deposit Option (and create an account)
3. Deposit Funds in Your Betting Account
4. Learn About Betting Odds and Place Cricket Bets

Choose an online betting site

There are plenty of online betting sites to choose from, but we are going to keep it simple here.

We highly recommend that you choose one of these betting sites:

• Betway
• 10CRIC
• Spin Palace
• Dafabet
• Bet365
• 1xBet

All of these are excellent options, but if you are unsure which to choose then go with Betway. You can always try another site if you want to later.

Why Betway?

We like Betway because they're a trustworthy site with a user-friendly interface, live betting and other gaming options like poker and casino games.

They also have betting apps.

That's right, you can place bets from your tablet or phone. No app needed - you just log in and place bets from your browser (we recommend Chrome).

The bottom line is that with an account at Betway beginners won't need an account anywhere else until they're ready to take their betting (and profits) to the next level.

Step by step guide on how to make betting accounts

Betway

4 steps to create a Betway account

Click the big green button that says 'Register Now'.

You will then be taken to their homepage for mobile (or straight to the signup screen if you are on desktop). Click the ‘Register Now’ button at the bottom of the screen again.

How To Read Betting Odds

Then you are taken to their signup form. Here you simply fill in your personal details as per the document.

• First Name and Last Name
• Date of Birth
• Gender
• Address
• City, Country and State
• Zip / Postal Code
• E-mail
• Telephone Number
• Language
• Currency
• Username
• Password

Then you will be taken to a screen which shows will confirm that your account has been created and your username and password.

Spin Palace Sports

6 steps to create a Spin Palace Sports account

Here, you will be required to enter some basic information, including your chosen username, email address and a password. Once you have done so, click 'Next Step'.

Next, enter your First Name, Last Name and Date of Birth, and then select your Gender, Preferred Language and Currency. Again, once you have done so, click 'Next Step'.

The final step in the registration process will require you to enter the Country from which you’ll be playing, your Mobile Number, Address Line 1 and 2, City, State/Region and Postcode. Be sure to check the box confirming that you agree to the Terms and Conditions – best read them first, because you won’t be able to create an account without doing so. Then, click 'Register'.

Congratulations, you have now successfully registered an account with Spin Palace Sports!

10CRIC

6 steps to create a 10CRIC account

Open the registration form by clicking on the “Join Now” button

On the first page of the registration form you need to fill in:

• Full name
• Date of Birth
• Email address

When you are done, click on the “Next” button.

The next will have you filling in your: Address, Phone number and Postcode. When you are done, click on the “Next” button.

The last step will have you fill in your: Username, Password, Preferred Currency (10CRIC offers India Rupees!), NO need to fill in 'Referrer code' and a 4 digit security code. Click on 'Create my account'.

Congratulations you are now registered at 10CRIC - one of the top sports betting sites for Indian players!

Bet365

4 steps to create a Bet365 account

Click the join now link (it’s at the top-right of their site). A window will pop up.

On this window you’ll need to enter where you live, your name, date of birth, address, email and phone number. You’ll need to create a username, password and give them a 4 digit security number.

Now you’ll want to confirm your account. To do that just open the email and click the link they sent you.

1xBet

4 steps to create a 1xBet account

Click the big green button at the top of the site that says ‘Register Now’.

A box will popup where you can choose which method you want to register with:

• One-click
• Phone number
• E-mail
• Social networks

These different methods simply determine how you want to create your account. One-click is the fastest where you only choose your country and what currency you wish to use, then click register.

After you have registered, a new information box will open on the same page where you will receive an account number and a password so you can login immediately. And that is it!

You also get the option to go to deposit funds right away to your account. Simply click the green ‘Deposit Now’ button on the next box and choose among over 170 different banking options!

888sport

4 steps to create a 888sport account

Click the join now link (two big green buttons). You will be taken to a new page and their signup form.

The signup form is split up into three parts: the first will have you enter your name, email, birthdate and gender. The next one requires a username, password and security question. The final page requires your postal code, city, address and phone number, as well as the currency you want to use.

Now they will send a confirmation link to your email. To do that just open the email and click the link they sent you to activate your betting account.

Congrats - you're all done. Now you have yourself a brand new online betting account.

Choose a deposit option

The next step is to put money in your betting account so that you can start betting. Depending on where you are from, this is easier said than done. If you are from India for example, there are limited options available.

You need to deposit funds before you can place bets, it is not possible to bet on credit with online betting sites.

There are many different deposit options for betting sites, and here are a couple of the most popular ones:

• Debit cards
• Credit cards
• ecoPayz
• Neteller
• Skrill
• Entropay
• Astropay
• Neosurf

The simplest way to deposit is to use debit or credit cards, but they are a bit hit and miss if they even work, but I would suggest just trying them out to see if they work. The worst that could happen is that they are declined.

The alternative to card payments is to use either ewallets or pre-paid cards. Both of these options are a bit harder to setup, but once you have them up and running, they are way more reliable.

Ewallets

Ewallets work just like a regular online bank: you get an account with an account number. You can deposit funds to the account and withdraw from it, as well as use it to pay for services, like depositing to betting sites.

Here is a list of the top recommended ewallets:

• Neteller
• Skrill
• ecoPayz
• Entropay

Pre-paid cards

When you buy a pre-paid card, you essentially buy a credit card that has a fixed amount of money in it that you can use to pay just like with a regular card. A bit weird, but helpful when you need to deposit to online betting sites.

Here is a list of the top recommended pre-paid cards:

• ecoPayz
• Entropay
• Astropay
• Neosurf

Step by step guide on how to setup deposit options

Neteller

5 steps to create a Neteller account

Next you’ll want to click the sign up link. This will be a 3-step process that they hold your hand through.

You’ll first fill out your email address, country, state and currency you want to use.

The next form is a bit longer. Here you’ll need to fill out your name, social security number, address, zip code, phone number and create a password. Then choose and answer 3 security questions.

The 3rd step is confirmation. You account has been created and you’ll be told your ‘credentials’ – this includes your account and secure ID.

Skrill

4 steps to create a Skrill account

You will be taken to their signup form once you visit the above link. Here you simply fill out your account and personal details.

The second signup form will have you give your credentials like email, birthdate, password and a captcha.

After you have done this your account is created and you will be logged in. An email with your verification link is sent to you which you need to click in order to activate your Skrill account

ecoPayz

3 steps to create a ecoPayz account

To start, go to the ecoPayz website.

Click on 'Sign up'.

Fill in your personal information.

Scroll down, and continue to the next step.

Continue by filling in the rest of the required fields.

Click on 'Create Account'.

Congratulations! You've successfully signed up at ecoPayz.

Now that you have a deposit option set up, you can use that account to fund your betting account.

How to deposit money at Online Betting Sites

Using Neteller at Betway

First of all, you’ll need to be logged into your Betway account.

On the top right of the screen, click on your username.

Click on your preferred deposit method. In this guide we'll use Neteller.

Enter your Neteller Account ID, the amount you want to deposit, and your Neteller Secure ID. To finish click 'Deposit'.

Congratulations, you've successfully deposited money to Betway using Neteller.

Using Neteller at Bet365

First of all, you’ll need to be logged into your Bet365 account.

On the top right of the screen, click on your username. Then 'Deposit'.

Pick your preferred banking method and currency. In this guide we'll use Neteller and INR.

Enter your Neteller Account ID, the amount you want to deposit, and your Neteller Secure ID. To finish click 'Deposit'.

Congratulations, you've successfully deposited money to Bet365 using Neteller.

Using Bank Transfer at 10CRIC

10CRIC offers Local Bank transfer for India players exclusively. It is a simple, fast and secure process, funding your account takes less than 30 minutes.

In order to be able to Deposit on 10CRIC you need to have already created a players account.

First thing first, log in to your 10CRIC players account and follow the below steps.

Click on the “Deposit” button.

Copy the Bank details of 10CRIC:

• Bank Name
• Account Number
• Account Owner
• IFSC code

NB! Always check your bank details on site before depositing!

Go to your Online Banking (your personal bank site) and perform a transfer using IMPS to the 10CRIC account details for the amount you wish to Deposit. Min. deposit is 500 INR and Maximum 300 000 INR per transaction.

NB! We suggest you keep the deposit form of 10CRIC site open and perform the transfer from your bank in a separate tab (window)

Return to the Deposit form on 10CRIC site is fill on the transaction Details:

• Amount you have deposited
• RRN number – it is a 12 digit number usually starting the number “8” , it is shown after your IMPS transaction from your Bank has been sent successfully to 10CRIC
• Your Account Holder Name
• Bonus code – NO Need for bonus code – onlinecricketbetting.net bonuses are automatic with 10CRIC site

Click on the “Deposit” button

You will receive a “Thank you” message and in less than 30 minutes the amount will be in your 10CRIC account.

What are odds?

When you have created an account, funded it and have navigated yourself to a bet you like, then you might be staring at something like this:

How To Understand Betting Odds In Cricket

Here you see information on the upcoming IPL 2017 game between the Gujarat Lions and Kolkata Knight Riders.

In addition you see two columns next to this information which say ‘1.72’ and ‘2.10’ respectively. These are the betting odds for this match and each team. The odds under the ‘1’ tab is the odds you get if you bet on the home team to win, in this case, Gujarat Lions. ‘2’ is thus the odds you get when you bet on the away team, Kolkata Knight Riders.

How betting odds work

When we talk about the odds you get, this means how much you stand to win if the bet you place wins.

For instance, if you place a $10 bet on Gujarat Lions to beat Kolkata Knight Riders, at 1.72 odds, you will get back $17.20 if they win, where $10 is your original bet and $7.20 is your winnings.

If you bet $10 on Kolkata Knight Riders with 2.10 odds to win, and they win, you will get back $21.00, $10 which is your original bet and $11.00 which is your winnings.

If you should lose either of the bets, you simply lose the $10 that you paid for the bet, regardless of the odds you placed it at.

How To Understand Betting Odds In Cricket World Cup

So what you simply do determine how much you stand to win is to multiply how much you wish to wager, on the betting odds you get. We will show some more example in the table beneath:

When you're ready to bet, click on the wager you would like to make, then fill in the amount you wish to bet on that outcome and click confirm.

How to place bets at Betway and Bet365

Placing bets at Bet365

First of all, you’ll need to be logged into your Bet365 account.

Click on the menu icon in the top left corner of your screen, and scroll down untill you find 'Cricket'.

Now you'll see several cricket matches. Choose the one you want to bet on.

When you've found the match you want to be on, click on bet you want to make.

When you've picked the bet you want to make, choose your stake and click on 'Place Bet'.

Congratulations! You've successfully placed your first bet at Bet365.

Placing bets at Betway

First of all, you’ll need to be logged into your Betway account.

Click on the menu icon in the top left corner of your screen, and scroll down untill you find 'Cricket'.

Now you'll see several cricket matches. Choose the one you want to bet on.

How To Understand Betting Odds In Cricket Match

When you've found the match you want to be on, click on bet you want to make.

When you've picked the bet you want to make, a yellow number will appear in the top right corner of your screen. Click on it.

How To Understand Betting Odds In Cricket Match

Fill in the amount you want to bet.

Click on 'Place Bet' in the bottom right corner.

How To Understand Betting Odds In Cricket Score

Congratulations! You've placed your first bet at Betway.

Videos on how to make accounts