Most Important Reasons to Compare Cricket Odds
Many users, especially the new ones, must understand the reason for comparing odds, may it be for golf, snooker or any other sport or game. It is a very simple fact that the better the odds you get, the better your chances of winning. If you wish to place a bet with a bookmaker online, the first thing you need to check is what odds do they offer. If they do not provide good odds or higher odds, you will earn less when you win your bet. Why would you be interested in betting with a bookmaker where you win a lesser amount. That is the primary reason we urge our readers to use a good Cricket odds comparison tool like ours and then in one place itself see which site offers you the best betting odds for Cricket. You will not only save your valuable time but also, if you win the bet, you get more money.
Comparing the Cricket betting odds UK is needed by all punters and not only newbies. Professional punters learn eventually who is the best bookmaker cricket odds, but they would not be aware of the new sportsbook which regularly comes up in the market and may miss out on them. Due to the fierce competition, new bookmakers also aim at giving higher odds. So, we suggest professional punters to also go through our cricket odds comparison tool to get the best bookmaker odds for cricket.
Online vs Offline: Chasing the Best Odds
Being in the UK, you might have a handful of local bookmakers to go to and place a bet with easily. We agree that it would be a fun and easy task. But if you think again, what are you missing? We would say you are missing a lot. You probably live in an area in the UK where you can access two local bookmakers. You go to one of them and the cricket betting odds UK they offer on the upcoming Bangladesh cricket match is 8/13. You have already braved the traffic and spent money on transport to get to the bookies. You really don’t want to go to the other bookmaker. You settle down with 8/13. On the contrary, your friend logs in to our site. He opened up our cricket odds comparison tool and clicked on the Bangladeshi cricket match. Using our tool, he found that the online bookmaker X provides the best betting odds for cricket at 8/11! He creates a bet slip immediately and let’s say he wins the bet. He earns more money than you on the same amount sitting right in his house. He did not travel; he did not face the traffic or harsh weather, and he probably got even more offers playing online. The world of online gambling is increasing in popularity for these very reasons. We recommend placing bets online with the best bookmaker odds for cricket.
The History of betting Odds in Cricket
Betting on cricket can be traced back to the 1600s while the terms of odds, such as the use of terms like eight to eleven to refer the risks, was founded back in the sixteenth century, even before the development of probability theory. Nowadays, however, you will find odds are provided by online bookmakers in three different formats, namely Decimal Odds, Fractional Odds and American Odds. Let us go through them for better understanding.
Decimal Odds Explained: Decimal Odds are the most used or common way bookmakers represent their odds in Europe. That is why it is sometimes also referred to as European Odds. It is simple to calculate the Decimal Odds as all you need is basic mathematical understanding. The formula used is your stake money multiplied with the odds, which is equal to your winnings.
Say you are backing the team Manchester United and its decimal odds to win are 1.82. If you place a bet worth £100 your potential return on your bet would be £182. Remember that this also includes your original stake of 100 pounds, which means you won the amount of £82. The formula looks like this: Your Bet x Decimal Odds = Your Potential Winnings
Fractional Odds: This is yet another way of expressing the odds. As the name suggests, they are displayed in a fractional form. Some people also refer to them as UK odds as they are widely used in the UK and Ireland. The numerator is the amount of your wager will yield, and the denominator is the amount bet. If you wager on Manchester United for 10/15. Here, for every £150 spent, your possible net profit is £100. Remember, you will also get the original amount you staked as well. So, in this example, you get £250 (150+100).
American Odds: American odds are furthermore classified as favourites and underdogs. As the name says, it is mainly used to cater to US players. American odds are also called money line odds.
Favourites come with a preceding – symbol. Like we know, -3 is higher than -6. Similarly, -200 has a better chance to win than -120 favourite. In other words, you ignore the minus sign, even then 200 is bigger than 120.
Underdogs come with a preceding + symbol. The higher the number means, the larger the underdog. Here, a +120 underdog has a better chance to win than a +200 underdog.
How Are Cricket Odds Being calculated?
The way that each bookmaker creates their odds has changed drastically over time. Once dominated by the old Vegas oddsmaker, now it is under the hands of online sportsbook, algorithms and software. Odds are crafted to attract equal action on both sides of a betting line. In an ideal world, bookmakers receive equal betting volume on both sides of a wager (win or lose), they will take between 5 to 10 per cent on the juice. Mathematicians and statisticians have a leading role in determining odds today. It takes a lot of cost and resources to determine the right odds to mitigate the sportsbook risk. To save cost, some even copy other sportsbook odds; some outsource odds making and so on. If a sportsbook offers unusual bets, chances are they created the odds themselves. To stand out, sports bookmakers use marketing campaigns to attract more people.
How to find out the expected value?
An expected value of a bet determines how much we can assume to win from a bet. Thus, this is a very important calculation when comparing bookmakers’ odds. The formula is (chances of winning) x (Value won for each bet) – (Chances of losing) x (Value lost for each bet). If you know your above values, you simply need to put them in this formula to know your expected winnings.
How are cricket odds calculated?
Bookmakers first create their lines based on who they believe will win the match. Then the odds are determined on how people think the outcome would be, after which the bookmakers will adjust their betting lines.
Odds betting strategies
Cricket is an interesting sport where you can bet on all the different types of matches happening around the globe. A match can last anywhere between three hours for a limited overs game and a maximum of five days if it’s a Test. So, depending on the different types of matches, you can apply different betting strategies. Cricket betting strategies are very different from tennis betting strategies or football betting strategies. Different cricket betting strategies work best for various people depending on different types of matches. Here we have explained two strategies for you:
It is a betting system in which each player tries to gain some earnings or profit by placing a bet not only on one but more than one result of the same match. Punters who place these sorts of bets are known as arbers in the betting world. While traditionally arbitrage betting involved placing bets on multiple results offered by a single bookmaker, with online bookmakers, the strategy has evolved to placing bets on different results and different odds offered by more than 1 online bookmaker.
It is a form of betting strategy where you are usually required to create an account with two bookies where one of them offers some bonus bets. The bonus bet is used to cover one of the outcomes, and then you place a bet on the other outcome on the other site, as a result, either way you win the bet.
Both matched betting as well as arbitrage betting work great when there are just two possible results of a particular match. Sports that are ideal for such sorts of bets and where you can place such bets are cricket, basketball, and baseball.
The most popular markets in cricket
As an immensely popular sport around the world, there are numerous betting markets available for cricket, including the following:
- ICC Cricket World Cup
- ICC Champions Trophy
- ICC World Twenty20
- One Day Internationals (ODIs)
- County Championship
- Indian Premier League (IPL)
- Caribbean Premier League or CPL
- The Ashes series between England and Australia
- International Tests
- Big Bash League
- NatWest T20 Blast
Betting on cricket comes with plenty of different options. Here are the most common betting options available for cricket:
- Match-winner: As the name suggests, you will be placing your money on the winner of the game. Of course, there is the draw and tie options too;
- 1st Over Total runs: the bookie will set a line for the total runs during the first over. You have to foretell if the total runs will be more or less than that;
- Top Batsman: if you think that a particular player will get the most runs in a certain period; you can place a bet on it;
- Top Team Batsman: if you think that a particular player on one team will get the most runs of their innings; you can place a bet on it;
- Method of dismissal: This cricket market lets you place your money on the first wicket. Pick between the different options and receive some solid odds;
- Most Match Sixes: you can bet on which team will make more sixes during the match;
- Man of the Match: You can bet on who will become the man of the match.
Did You Know?
- There have been a number of spot fixing and ball tampering scandals in cricket history. The most famous recent example involved Cameron Bancroft of Australia in collusion with national captain Steve Smith and vice-captain David Warner using sandpaper in his pocked to rough up the ball while they toured South Africa.
- Twenty20 cricket which finishes the game in just twenty overs, gained quick popularity ever since it started in the year 2012. It was first introduced to resolve the problem of low attendance at matches held in the UK in the late 1990s and early 2000s. But it turned out to be very popular and now we can see it as a full fledged sport with a huge number of matches happening every year at both the international as well as domestic level. All nations that play Test matches now even have their own domestic or local T20 competitions.
Odds Comparison FAQ
Q1: Is your odds comparison service free of charge?
Betting.co.uk offers a free service so you can easily compare the bookmakers and know who provides you with the best cricket odds in the industry.
Q2: Why should I not bet with my standard bookie?
Your standard bookie may not be giving you the best odds in the market. It is always a good move to first compare odds and check the difference between your standard bookie odds and the best bookmaker odds. If the difference is not much, you can carry on with your bookie as we understand you have a comfort level. But if the difference is significant, it is worth trying a new bookmaker offering better odds.
Q3: Are there differences between online vs offline odds?
Odds can differ between various sportsbooks, but bookies usually offer exactly the same Cricket betting odds UK on an individual match despite whether you’re playing online or offline. However, to encourage bettors into going online, certain sportsbooks have special offers that are exclusive to their website members. That’s why you can sometimes see better cricket betting odds UK online, usually as a part of some bonus offer.
Q4: Is it wise to sign up with two bookmakers?
Answer: Yes. It is always good to sign up with more than one bookmaker. This way you can get the best bookmaker cricket odds and also be able to place bets depending on which bookmaker offers you better odds. In other words, you take the best from both of the bookmakers you sign up. No single bookmaker is ideal and offers everything a punter wants.
Q5: Why should I read the reviews online before signing up?
Online reviews give an idea on best bookmaker cricket odds. The ratings tell you a lot more and help you decide if it is worth to sign up for the bookmaker. You will also come to know if the site is a scam or fraud. You can rely on our honest and unbiased reviews of bookmakers to learn a lot about them.
With our Cricket odds comparison, you can easily make a decision on which bookmaker is the best for you because we find the best betting odds for cricket for you. Understanding the cricket betting odds UK, betting markets, and betting options is important in order to develop your skills and increase your wins. Besides seeing the best cricket odds, it is also vital to see what are the types of cricket betting markets available, what are the types of the games given as well as the welcome bonus offered. Most online bookmakers offers great welcome bets which are very handy if you are new to online betting.
There are plenty of online bookmakers in the market, that, in order to get ahead of the competition, the top bookmakers regularly update their betting odds and also their promotional offers. It might get confusing as to which operator you should try out, which is where Betting.co.uk comes to the rescue, with our expert operator comparisons and reviews. With our cricket odds comparison, you can find the best bookmaker cricket odds, and enjoy your betting adventure, while increasing your chances of winning the bets you place.