Cricket is the most popular sport in India, as well as being enjoyed by fans in various other regions across the globe. With both international and domestic matches taking place on a regular basis throughout the year, betting customers have a large amount of options when it comes to wagering on their favourite teams and players. Whether you are new to the world of cricket or are simply looking to brush up on your knowledge, the following guide provides useful information on how to bet on this hugely popular sport, including available markets and odds.
Different Cricket Formats
Cricket is a sport that is played in a range of different formats, which are important to understand before any bets are placed, as some teams are better in certain areas than others. In total, the following formats are available to bet upon:
- Test Matches – Played over a period of five days, test matches are the most traditional form of cricket. Both teams involved have a chance of winning, while a draw is also possible, which often occurs when bad weather stops play. Both teams will bat for a total of two innings, scoring as many runs as possible in the process.
- One-Day Matches – In this format of the game, each team has a total of 50 overs to score as many runs as possible, with one-day matches being completed within just 24 hours as a result. Played by both international and domestic teams, ODI’s are a hugely popular and entertaining form of cricket.
- Twenty20 Matches – One of the newer forms of the game, T20 matches are when each side has just 20 overs to score as highly as possible. Whether it be the Indian Premier League or T20 World Cup, such matches are among the most exciting around, attracting a range of cricket fans.
Cricket Betting Markets
Now that you understand the different formats of the sport, it is also key to be aware of the various live cricket betting markets that are available surrounding cricket. Some of the most popular cricket markets available online today include:
- Toss– The coin toss at the beginning of a match determines which team picks if they would like to bat or bowl first, which can potentially have a significant impact upon the final result. While there is obviously no skill in picking the outcome of this, it is still a market offered by a number of bookmakers today.
- Match Winner– With this market, customers bet on which team will win an individual match, or on the possibility of the game ending in a draw. This is available on Test, One-day and T20 matches.
- Series/Tournament outcome– Cricket is generally played in terms of series or tournaments where there are number of games, allowing punters to bet on the outcome of the overall series.
- Best Batsman– Punters can bet on the highest individual scorer in an innings or in a match.
- Best Bowler– Bets are also available to place on the best bowler in an innings or for an entire game.
- Partnerships– A partnership is the total amount of runs scored between the two batsmen out on the field, which can also be bet upon.
- Player of the Match– In this case you bet on the most valuable player across both the teams, with a player of the match being awarded at the end of each game.
- Boundaries– Boundaries are the most exciting part of cricket, whether it be a four or a six. Punters can also bet on the number of times the ball will reach the boundary during an innings of match.
How to Calculate Cricket Betting Odds
Odds are the prices that bookmakers offer on certain markets, which will ultimately impact the amount of earnings you make when winning bets are placed. Odds are determined by the probability of a team winning a cricket match, based on their form, motivation and available players. For example, the team who is favourite to win a match will be offered short odds by bookmakers, in order to make up for the volume of bets in which they are likely to receive. Meanwhile, outsiders are offered at larger odds, based on their slim chances of winning.
Those looking to make consistent profits from cricket betting markets must look at for value bets, which goes beyond simply the odds offered by a bookmaker. A market must stand a good chance of actually winning, which is well-known as a value bet within the industry. Value bets can be calculated based on the odds provided by bookmakers, using this simple formula:
Value = (Decimal Odds x Your Assessed Probability) – 1
Should the outcome be more than zero, this is known as a value bet, meaning that there is a good chance of the bet winning.
How Do I Place Successful Cricket Bets?
Before placing a bet on cricket, it is important to take a significant number of factors into consideration. The following points will all potentially effect the winner of a cricket match, as well as ultimately the success of bets:
- Teams– Cricket teams will not always be evenly matched, which is the first thing to keep in mind when betting on a match.
- Form– The form of both teams and individual players also has a significant effect on the result of a cricket match, so be sure to research recent performances for both.
- Players– Whether a team is without their star bowler or an opening batsmen passes a late fitness test, the availability of players is also likely to impact a teams ability to win a game.
- Conditions– The conditions in which a match is being played under are also likely to effect the result, with teams playing at home often favouring the conditions, whilst visiting teams may take time to adjust.
- Toss– The team who wins the coin toss at the start of a match may well have an advantage over their opponents, whether the early conditions are best for batting or bowling.