How are Betting Odds Calculated in Cricket
Bookmakers consider probabilities to calculate odds. These are experts with good knowledge of cricket and use odds as percentages to streamline the betting process.
Let me tell you how you can calculate cricket betting odds yourself.
Understand the Game
Familiarize yourself with different cricket formats, such as:
- One Day Cricket – 50 overs per side
- T20 Cricket – 20 overs per side
- Test Cricket – 5-day match
- First-Class Cricket – domestic competitions
Assess the Teams
Compare the strengths of the two teams to optimize odds calculations. For example, a strong team like Pakistan is more likely to beat a mediocre side like Afghanistan.
Home advantage, pitch conditions, team morale, and overall performance are other factors that can help you evaluate the status of the team.
Calculate the Probability
Probability is important for calculating the odds. But you don’t need to learn advanced probability and statistics.
After all, you just want to calculate odds via probability. So, look at the two teams, let’s say in a T20 game, decide which side will win.
Convert Probability into Odds
Conversion is easy. It just requires you to convert probabilities into percentages. Divide 100% by the result’s likelihood to calculate the odds.
If the chances or probability is that Pakistan will beat India in T20 World Cup Final, you can select:
100/80 probability = 1.25 betting odds
Moreover, you must determine the winnings considering the odds and the bet amount. Use this formula to calculate your winnings/profits.
Winnings = Odds x Your Bet Amount
You can find numerous online tools to calculate probabilities, odds, and potential winnings.
However, experts recommend manual calculations for more accuracy and reduced errors.
How to Identify Value Bets in Cricket Betting Markets
It’s not easy to identify value bets in cricket betting markets.
You need good cricketing knowledge, strategies based on historical data and evidence, and analytical skills. Here are steps to identify value bets in cricket:
- Understand value betting
- Applying value betting to cricket
- Consider statistical data and other factors
- Make calculated and informed decisions
Understand Value Betting
Value betting is synonymous with smart guessing in cricket. When you bet on the result, you think it is more likely to happen than the betting odds suggest.
Everyone loves watching a match between Pakistan and India. If the bookmaker gives odds of 1.50 for Pakistan to win and 2.50 for India, but you believe India has a better chance of winning the match than the odds suggest, you would bet on India.
So, value betting is when you see the “value.” In this case, the odds are 2.50 for India. Value betting is something like finding a special deal in a market.
Apply Value Betting on Cricket
So, how do you apply value betting on cricket? This is an important question; I don’t want to give you generic information. Instead, let me give you a realistic example so you understand how this works properly.
A bookmaker offers betting on a one-day match between Pakistan and Sri Lanka. The odds calculated by the bookmaker are 2.75 for Pakistan and 1.49 for India.
First of all, use your judgment and skill to analyze statistics and historical results between Pakistan and Sri Lanka. That way, you can create your own probabilities for each team.
So if Pakistan has a 40% chance of winning and Sri Lanka has a 60% chance, and the bookmaker’s odds are different, you have just found a value bet. Don’t wait; apply it immediately to the game to increase your chances of winning.
Factors to Consider in Identifying Value Bets
Consider the following factors to identify value bets:
- Team form and performance
- Head-to-head records
- Conditions and Venue
- Team News and Players’ Availability
- Market Sentiment and Public Perception
Team Form and Performance
Analyze the team’s form and performance. If Pakistan has won most of its recent matches and players like Babar Azam, Fakhar Zaman, and Shaheen Afridi are in good form, you can bet accurately, valuably, and safely.
Head-To-Head Records
You want to find a value bet for a match between India and Pakistan at Sharjah. A Dubai-based online casino provides its members a historical record of matches between India and Pakistan. History shows that Pakistan has formed well against India. So, you can leverage this information to influence your betting decision in a positive manner.
Conditions and Venue
Where is the match? Which stadium? How does the pitch look? Is it slow or fast? Does it favor bowling or batting? Answering these questions can help you make an informed decision and bet more accurately and safely.
For instance, if a match is in Sharjah or Dubai (where the conditions often favor batting), the team with a strong batting lineup has a higher chance of winning. In that case, India is favorable.
Team News and Players’ Availability
You can collect any news about India, Pakistan, or any other team participating in the tournament. Get information about whether there are any injuries, how the players’ morale, and whether they are rested. Are key players like Virat Kohli available to play the game? So, these things are important when calculating value bets.
Market Sentiment and Public Perception
Although people from both countries will favor their team because there are so many emotions involved in the game between Pakistan and India, as a bettor, you must set aside your feelings and focus on what experts think and how serious spectators perceive the game.
Always Make Informed Decisions
Get information about player injuries, team news, latest developments, etc., to make better decisions. Emotional decisions, on the other hand, can prevent you from finding and applying value betting on cricket.
Keep in mind that value betting is not 100% accurate because a match involves too many variables. But if you estimate the probabilities of the game’s specific events, you can calculate better percentages and odds than bookmakers. So this gives you an edge, and your chances of winning the bet are high.
What is 1 2 in Cricket Betting
It refers to a “1X2” betting system, offering three possible outcomes for a cricket match – let’s say between Australia and England. But what does 1 2 in cricket betting mean?
Okay, so “1” means the home team wins. “X” stands for a draw. And “2” means the away team wins.
There is a match between Australia and England. Australia is the home team, and England is the away team. The odds are:
- Australia – 6.5
- Draw – 0.5
- England – 3.0
Bear in mind that odds depend on various factors, such as the team’s overall strength, the venue, players’ recent performances, and the location. 1X2 betting is simple because you pick one option from three potential outcomes. So you can analyze and place these bets quickly. Likewise, these bets are usually safer than complex bets and have good rewards for beginners.
How To Bet on Individual Performances in Cricket
Betting on individual performances is an exciting way to add an extra layer of anticipation to the match. Here is how you can bet on individual performances in cricket.
Runs Scored
How many runs will Bazar Azam score in the match against India? Will Virat Kohli score more than 50 runs in a game against Australia? So, you can bet whether a player will score under or over a specific run total.
Wickets Taken
How many wickets will Shaheen Afridi take in a match against India? How many for Bumrah? And what about Rashid Khan, a famous Afghan leg spinner, in a game against Bangladesh? The idea is that you predict the number of wickets a bowler may take in the match. For example, you bet on whether Rashid Khan will take 4 wickets or 2 wickets instead of a predetermined number.
Catches
How many catches for your favorite player in the Indian team? So, you can wager on the number of catches Rohit Sharma will make during a match against South Africa. Remember, you can also bet on the wicketkeeper in addition to the fielders.
Strike Rate and Economy Rate
Strike rate refers to the number of runs a batsman scores per 100 balls. Economy rates are usually for bowlers, measuring the average number of runs a bowler concedes per over. So, you can bet on a batsman’s strike rate and a bowler’s economy rate.
Remember, you must consider a player’s recent form because it helps you predict whether they will perform better in the next match. Moreover, analyze the statistical data about the player, such as the number of runs in the previous match/tournament, strike rate, average, etc., to make an informed decision.
The Difference Between In-Play and Pre-Match Betting in Cricket
Pre-match and in-play are popular betting and wagering types in cricket. Each has its benefits and downsides and requires a different strategy. The following table differentiates between in-play and pre-match betting so you have a quick overview.
| Parameter | Pre-Match Betting | In-Play Betting |
| Timing | Before the match starts | During the match |
| Odds | Largely fixed | Constantly changing |
| Strategy | Requires understanding of teams, players, conditions | Requires quick thinking, decision-making |
| Engagement | Passive | Active, real-time |
| Payouts | After the match ends | Instant, if the bet wins |
Pre-Match Betting
As the name indicates, you can place bets before the match starts. Remember, this type of betting has fixed odds and is primarily based on the sportsbook traders. Make sure you have good knowledge and understanding of teams, players, individual performances, statistical methods, formulas, and conditions before the match.
In-Play Betting
Most people in the UAE call it live betting, allowing them to place bets during the match. Live betting is more exciting and entertaining than pre-match betting because the odds change constantly during the game based on what’s happening and how each team or player performs.
What is the Minimum Bet for Cricket
The minimum bet for cricket varies because it primarily depends on which platform you use. For example, some online platforms in UAE, particularly Dubai, have a minimum deposit of 5 Dirhams. However, this is not the exact figure. Some sites have a minimum deposit of more than 5 Dirhams –between 10 and 20 Dirhams.
Final Words About Cricket Betting
The bottom line is that you want to earn more money through betting, and that’s why you are here to learn how betting works in cricket. I have given you enough information to start betting on cricket matches or players’ performances. Remember, not a single strategy, odd, or probability is 100% accurate. So, make sure you bet responsibly.
