Learn how does Cricket Betting Odds work with examples for beginners. Know 3 types of odds, and wager at M88 Sportsbook for a minimum of RM2 with 3 bonus Tips.
Cricket is one of the most popular sport in Asia that many people tend to wager on, but as a beginner, it is important to learn the nitty-gritties of cricket betting online starting from how does cricket betting odds work in sportsbooks. In this article, we will explain everything you must know about the odds meaning in cricket, the different odds format, examples from M88 Sports of betting odds, and finally 3 bonus tricks to use odds to your advantage.
What are Cricket Betting Odds?
Before we look into how does cricket betting odds work, let us first help you understand what are cricket betting odds in the sportsbook. Betting odds in sportsbooks are given to all the betting options in the sportsbook and are provided by bookies based on analysis of previous match data. Betting odds thus gives you an idea of not only which team is more likely to win the match but also helps you understand the potential payout returns on winning bets.
In sportsbooks, you get two kinds of betting odds which are Early betting odds and In-Play betting odds:
Early Odds: These remain the same as they are provided before the match as an assumption made by bookies based on previous data. You can lock your bets on these fixed odds prior to any match to get the payout accordingly.
In-Play Odds: These are provided during live matches and basically are early odds that change based on real match on-goings on the field. These odds are known to fluctuate in sportsbooks, and can change from time to time.
There are different kinds of betting odds formats that you will learn below along with how the betting odds in sportsbook lets you understand which team is more likely to win and which ones can provide you with more payout returns. The more you read here, the more you will learn how does cricket betting odds work in sportsbook so that you can apply bonus tricks to turn odds to your favour when betting on cricket matches online.
3 Different Types of Betting Odds in Cricket
Let us now take a look at the examples of different types of betting odds you can find in cricket matches throughout the years. Understanding these is important as part of learning how cricket betting odds work in sportsbook since different sportsbooks often offer different odds format that you can easily wager on with M88 Betting Tips for beginners below.
Decimal Betting Odds: The first and most popular betting odds format is the decimal betting odds wherein you get your payouts based on the formula: Betting odds x Betting stake = Payouts. For instance, if the odds is 2.40 and the betting stake is RM10, then your payout on winning the bet would be RM240.
Moneyline Betting Odds: Second kind of common bet is the Moneyline betting odds wherein you determine the betting stake amount or winning payout amount based on the – or + sign. For example, if the odds is +4, then you will win RM4 if your bet wins, but if the odds are -4, then you have to wager RM4 to win RM4 in return.
Fractional Betting Odds: Lastly, we have fractional odds which is barely used in sports betting these days yet it is one of the popular odds to learn. Fractional betting odds are provided in fractions, as in, 5/10, wherein this means you must wager RM5 to get RM10 as payout returns on winning bets.
Note: The decimal betting odds is more famous that other odds in sportsbooks because it is extremely beginner-friendly when it comes to understanding the potential payouts on winning bets. The decimal odds format also lets you wager with any betting stake amount as the stakes multiplied with the odds provide payouts. Moreover, these odds lets you easily understand which team is more likely to win and which ones can provide you with potential huge payouts.
How does Cricket Betting Odds work explained with M88 Examples
In the next section of this how does cricket betting odds work, let us take a look into the M88 Sportsbook examples on how does cricket betting odds work in sportsbooks. In the table below, we will give you an overview of how to calculate decimal betting odds in sportsbooks online with the help of the formula:
Betting Odds x Betting Stake = Potential Payout Returns on Winning Bets
Moreover, here you will also get an understanding of the different between higher odds and lower odds that can help you understand which team can provide you with more payout returns and which team can help you most likely win more than usual.
Wagered on Team 1
Wagered on Team 2
Betting Odds: 1.60
Betting Odds: 2.16
Betting Stake: RM10
Betting Stake: RM10
Payout Returns: RM16
Payout Returns: RM21.60
As you can see, the betting odds are multiplied with the stakes to give you the potential payout returns on winning bets. Here, you will also notice that the higher odds are more beneficial when it comes to getting more payouts because of the formula used. This is because, higher odds come with more odds to defy, meaning the risks of betting on these is higher, thus the payout is more. Similarly, lower odds provide less payouts because there are fewer odds to defy meaning that these bets are more likely to win. So, depend on your priorities, you can easily understand which odds to go for, when playing cricket betting online.
3 Betting Tips to turn Cricket Betting Odds in your Favour
In the final section of this odds meaning in cricket article, let us leave you with 3 helpful betting tips and tricks for beginners so that you can boost your winning rate significantly by turning the odds in your favour. These are beginner-friendly so you can use these flexibly to adapt them to your gaming style in sportsbooks.
Bet more on lower odds: The first strategy is to always wager on lower odds since they tend to offer fewer odds to defy, meaning winning these bets are easier. So, it is best to win in smaller amounts by wagering on lower betting odds for risk free betting.
Make use of statistics: As stated above, betting odds tend to change based on live matches, so to confirm your bets on lower odds it is always betting to analyse the statistical data charts in the sportsbooks as here you can compare odds with previous match data.
Practice in Virtual Sports: There are many sportsbooks that offer virtual betting, so as one of your beginners trick to understand how does cricket betting odds work in sportsbooks, it is best to practice in virtual cricket matches with our betting tips and tricks for beginners.
Conclusion
Learning How Does Cricket Betting Odds Work in sportsbooks is extremely simple once you understand which format works for you. The decimal betting odd is one of the most famous betting odds that you must learn to wager on. So, join the M88 website today to claim a 188% up to RM888 sportsbook bonus on first deposit to wager with stakes starting from RM2 only. For betting tutorials on sports, along with helpful strategies from top experts, keep visiting the 88MYR website.
