It’s important to shop around for the best odds before placing your cricket bet, otherwise you will be leaving money on the table every time. Profitable cricket betting is about more than just choosing the correct winner or top batsman, it’s about finding value for your bets.
The odds feed above features outright odds, in other words, odds for a particular team winning the match.
Fractional Odds: This system is most popular in the UK. The odds are shown, of course, as a fraction where you break it down into units. For instance, for 7/4 odds, it would take a bet of 4 units to win a profit of 7 units for a total payout of 11 units.
Example: If you were to bet Rs. 400 on the Chennai Super Kings to win at 7/4 odds. You would receive a 700 profit plus your initial bet of 400 for a total payout of Rs. 1100.
Another way to view it is to convert the fraction to a decimal (7/4=1.75) this represent your profit multiple. So, again, if you bet Rs. 400 and CSK wins, you would receive a profit of (1.75 x 400) Rs. 700 + initial bet of Rs. 400 for a total payout of Rs. 1100. Therefore the formula is: fractional odds x bet = profit => profit + initial bet = total payout.
Decimal Odds: This is the default view for our odds feed and is most popular in Europe. This is only a personal preference, but we prefer its simplicity. To read decimal odds, you simply use the following formula: decimal odds x bet = total payout
Example: If India was showing odds of 2.75 to win again England, and you Bet Rs. 1000 on India, you would receive (2.75 x 1000) Rs. 2750 as a total payout if India won the match. Therefore, your profit would be Rs. 1750.
American Odds: You will mostly find this format in the US and it uses a (+) and (-) system of notation. In the most simple terms, the (+) shows how much a bettor will profit per 100 units bet. Whereas, the (-) indicates how much one needs to bet to win 100 units.
Example: For the +175 shown above, if you place a bet on the Mumbai Indians at +175 for Rs. 100, you will profit Rs. 175, plus your initial bet of Rs. 100 for a total payout of Rs. 275.
If the odds were -175, you would need to bet Rs. 175 to profit Rs. 100 for a total payout of Rs. 275.
Again, it is completely a matter of personal preference what format you choose to view the odds, but for us, we prefer the simplicity of the decimal odds system. We find it easier to compare for value.
The main advantage of using odds feeds is to compare the odds to find value on a bet you want to place. You may be really confident that a particular team will win a match, but you should get the most value possible for that bet. Odds value shopping is an absolute key to maximizing your profits and being a profitable cricket bettor.