Cricket betting odds are the cornerstone of any cricket betting system, telling you the probability of how likely something is to happen while also showing bettors how much value there is in their proposed bet. Being able to read and understand cricket betting odds quickly can be the difference between nailing an in-play bet that provides good value or falling short. In this guide, we will go over how cricket betting odds work, what the most popular cricket betting events are, and the best cricket betting sites to use once you are comfortable reading these odds.
Best Betting Sites For Cricket Betting Odds
How Do Cricket Betting Odds Work?
Cricket betting odds may seem tricky to understand, but once you have immersed yourself in the ups and downs of the cricket betting world, you will soon become accustomed to them. Indeed, as confusing as the game of cricket itself may be, the way the odds work is no different to how any other sports betting market works, meaning cricket betting odds are easier to understand if you're familiar with the ins and outs of online betting.
You can view these cricket betting odds in decimal, fractional or American formats; all of which are simply implied probabilities, and show how likely it is that your bet will win. It is as simple as that. Therefore, if Australia were to host lowly Zimbabwe at the Cricket World Cup, the Aussies would go in as the favourites (meaning they are the team that is expected to win). Similarly, Zimbabwe would be tagged as the underdogs, which means they are not fancied to win the match. Below, we have listed a few key terms about cricket betting odds.
Key Cricket Betting Odds Terms
- Favourites – The team that is expected to win.
- Underdogs/Outsiders – The side that goes in with a lower chance of winning the match.
- Odds-on Favourites – This refers to the side that is heavily tipped to win the match.
- Even Money – This means wagering with even odds, meaning the bettors stands to lose or gain the same amount.
- Pre-game bet – A bet made before the match has started.
- In-play/live-betting – A bet made while the game is ongoing. When the match is in-play, the odds will fluctuate due to real-life events, meaning they can offer better or worse odds than at the start of the game.
- Odds Overround – This is the method of factoring in the profit margin on prices offered by the bookmaker.
- Bet Boosts/Enhanced Odds promotions – This is when a bookmaker enhances the odds on a certain bet. For example, Virat Kohli to top score could be boosted from 3/1 to 5/1, which implies that you stand to make more profit if the bet comes off.
How to Read Cricket Betting Odds
When looking to bet on cricket, or any sport for that matter, it is crucial that you know how to read the odds. If you go onto a bookmaker’s site looking to make a bet without knowing how to read their cricket betting odds, then you could make a bet that provides no real value, which will only hurt you in the long term. Below, we have given a quick explanation of how to read cricket betting odds in their decimal form.
For example, Australia were hosting India in the fourth Test with the following in-game betting odds for the fifth and final day:
- Australia to win – 2.25
- Draw – 1.80
- India to win – 17.00
From the above odds, you can see that the draw is the favourite result, with an Australian win just behind it. India (at 17.00) are the definite underdogs, which was likely due to the fact that they needed to score 324 runs to win on the final day of the Test. From here, if you were to place a £50 bet on any of the results, your potential winnings would be worked out as such:
- Australia To Win – 2.25 x £50 = £112.50 (total payout)
- Draw – 1.80 x £50 = £90
- India – 17.00 x £50 = £850
From the total payout calculate above, it is clear that India are valuable underdogs, providing almost 10x more value than their opponents, the Aussies. It is also worth noting that the £112.50 total payout does also include your £50 wager, meaning the £112.50 will be made up of your £50 wager and your £72.50 winnings.
Moreover, while the odds pointed in favour of a draw or an Australian win, India eventually came out victorious, meaning anyone that backed them was paid out well. This victory for India came massively against the odds, showing that just because a team is the major underdog it does not mean it is impossible for them to win. Of course, games like this do not come around often, so it is not wise to always back the major underdog.
It is very important that to ensure you are not losing out on potential profit by examining the odds closely. For example, if Bettor 1 and Bettor 2 both win 75 of 100 selections/bets, but Bettor 1 used better odds, he or she would have gained a higher payout.
If they were to bet £1000, their returns might look like the below:
- Bettor 1: £1000 x 2.00 x 0.70 = £1400
- Bettor 2: £1000 x 2.20 x 0.70 = £1540
The difference in profit between the two is £140 – potential winnings you would miss out on by not properly utilising the odds available.
Are In-Play Betting Odds Different to Pre-Game Betting Odds?
The short answer is yes. Pre-game odds refer to the odds set by bookmakers before a match or event has started. This could be a long way in advance of a tournament or a few moments before the game. For example, India may be the current 2023 Cricket World Cup favourites due to their star-studded lineup and the fact the tournament is on home soil. However, while they may be the favourites at this time, the odds may still shift considerably due to a loss in form or injuries to key players, resulting in another side superseding them at the top.
In-play odds refer to the fluctuating odds on a game when the match is live. For example, England may go into their game against South Africa as favourites with odds of 2.00, but after losing their top order and slumping to 37-5, these cricket betting odds will likely drift. Meanwhile, South Africa will see their odds shorten from 15.00 to 4.00, for example. If you believe England can turn the tide and go onto win the game, you could now back them at bigger odds of 8.00, offering more value than you would have found pre-match.
In-Game odds can offer a lot of value, but are sometimes difficult to utilise effectively. If you back Australia to win, even with them needing 30 runs off the last over with two wickets in hand, then you will probably see good value if your bet wins. However, you should question the probability of this actually happening, and not bet flippantly just because there's a small chance to win big if your bet comes in.
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The Most Popular Cricket Betting Events
The biggest betting events in cricket fall under three main formats. Below, we will quickly go over each one, along with the biggest event belonging to that format.
Test cricket is the oldest and longest format of the sport. Usually played over five days, 90 overs are bowled per day, meaning that 450 overs are possible across the Test match. Both sides will have the ability to bat and field twice, with the side that has scored the most runs at the end of the game declared the winner. This format of cricket is one for cricket purists; others sometimes claim that it is too long and can often be quite boring, with a lot of scoreless deliveries. However, the drama that generally unfolds over a five-day game can be intense, with some of the best players around doing everything in their power to ensure that they are a part of their side’s Test setup.
The Ashes (England vs Australia) is the highest-profile clash in the game, and is played when England take on Australia either in England or Down Under.
Historically, Australia have held the edge, often dominating in their homeland, whille their matches are usually far more even in the UK. The Ashes is played over five Tests, with the team that wins the most matches emerging as the victor. If the series ends in a draw, the side that most recently won back the urn will retain the Ashes, meaning that if Australia won the series in Australia, and then the sides draw 1-1 in the following series, Australia will keep a hold of the famous urn.
This series has seen some of the greatest cricketing talents ever to grace the field go head-to-head, with ferocious clashes ensuing. The 2005 Ashes series in England stands out as one of the greatest ever, while Ben Stokes' recent heroics at Headingley in 2019 drew praise as arguably one of, if not the greatest Test innings. If you are looking for a series to bet on, this one will constantly keep you on your toes with the twists and turns that it promises.
ODI cricket, also known as One Day International cricket, is a format that incorporates the explosive nature of T20 cricket along with a slightly longer over count. ODIs are played over the course of 100 overs, with both teams batting and fielding for 50 overs each. With only 600 deliveries allocated to each match, the games go by fairly quickly, only taking a day to reach their conclusion. With only 300 balls to build a score, teams generally take little time trying to hit scoring shots, setting up an enthralling battle between batsmen and bowler, where a booming six can so often be followed by a bowler castling their opponent.
Cricket World Cup
The biggest event in ODI cricket is the Cricket World Cup. Bookmakers tend to set their stalls up very early, with their cricket betting odds likely to go up for the tournament months in advance.
The Cricket World Cup brings together the greatest talent in the sport, in a winner-takes-all battle that seeks to crown the next cricket champions of the world. Australia have historically dominated the World Cup, but it was England that claimed the trophy most recently, having defeated New Zealand in the greatest final in cricket history. Spectators watch as both sides were tied after 100 overs before it proved impossible to separate them after a super over. England eventually won via their superior boundary count, after Jos Buttler had run Martin Guptill out on the last ball of the entire tournament. Now, the likes of India, Australia, South Africa and New Zealand will be looking to wrestle the trophy out of England’s grasp in what will likely be a highly entertaining showdown in India in 2023.
T20 cricket, also known as Twenty20 cricket, is the shortest and, for many, most entertaining iteration of cricket. With a total of 40 overs in the entire game, both sides are given 20 overs to bat and 20 overs to bowl in the match. Players are given so little time to get themselves up to speed with the game that batsmen generally just go out looking to smash the ball to all corners of the ground, while bowlers know that one false move from their opponents will see their stumps sent cartwheeling. For those that are not huge fans of Test cricket, the T20 format offers all the excitement of the sport contained within its shortest format, together with a definite result that day and matches generally taking around five hours to complete.
Indian Premier League
The IPL (Indian Premier League) is one of the top cricket tournaments in the T20 game. The competition brings together the best players in the sport's shortest format, with an auction held prior to the commencement of the league resulting in some real cricketing dream teams being created. With adoring fans packing the stadiums and watching from across the world, the IPL has embedded itself as one of, if not the most popular event in cricket, with IPL betting providing some of the most exciting and fast-moving markets around. With Virat Kohli, Rohit Sharma and KL Rahul all taking to the field alongside Jos Buttler, David Warner and Quinton de Kock, the IPL has become the perfect opportunity to witness the very best in the world take to the field.
Cricket Betting Odds FAQs
Which betting sites offer the best cricket betting odds?
Any of the betting sites listed above will offer you good cricket betting odds. However, we would recommend bet365, BetVictor and Unibet as the best of the lot. These three bookmakers will not only offer you valuable odds, but also features, offers and markets to ensure you get a top quality betting experience.
How do we find the best cricket betting odds?
The best way to find the best cricket betting odds is to do your research into your bookmaker of choice.
For example, if you are not sure whether bet365 or BetVictor offers the best cricket betting odds, you should pick a particular match that both offer and compare the prices available. bet365 may offer odds of 2.50 on Australia to beat England while BetVictor may stand at 2.00. This means that, in this instance, bet365 is the better choice, although it will vary for different matches. However, for Top Batsman, BetVictor may offer Steve Smith at 5.00 while bet365 rank him at 3.75, meaning BetVictor is the bookmaker you should bet with here. There is no hard and fast rule with who is the best as it does fluctuate, but you should ensure you compare a few bookmakers before betting, as well as reading up on some useful betting tips and match predictions.
Is live streaming available for cricket?
Yes, live streaming is available for many different matches and tournaments on an array of different bookmakers. Check out our list of the best live cricket streaming sites to see which one suits you best.
Can cricket betting odds change during a match?
Yes, cricket betting odds can fluctuate during a match. Betting during an ongoing game is known as in-play betting or live betting, while the cricket betting odds change according to the events that unfold. For example, England may go into their match as favourites against Pakistan, but a big double century from Babar Azam would mean Pakistan end up well on top in the game. This would shorten Pakistan’s cricket betting odds of winning, while England’s would drift.
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CricketBettingAdvice Final Say
When you are looking to bet on cricket, or any sport for that matter, it is vital that you know what you are betting on. Betting on the favourites will not always result in your wager returning a lot of value, nor can you be absolutely sure that your pick will win. It is therefore crucial that you do your research into who is playing, their form and the history of clashes between the teams. From there, you should carefully examine the cricket betting odds in your favoured betting markets.
The Cricket Betting Advice team of writers are all defined by one goal: to provide you with the best online betting content on the web.