Live Cricket betting odds explained with W88 sportsbook examples. Understand how does cricket betting odds work & join W88 India to get a bonus of up to ₹5,000!
Want to join the thrills of sports betting online but do not know where to start? Well, you have landed at the right place as here using one of the best sportsbooks for beginners, W88, we elaborate on some pro tips, tricks, and strategies that beginners can use to kickstart their gambling career on cricket betting online. So here we will elaborate on the main aspect of the sportsbook which is the betting odds and by the end of the article we guarantee that you will have the cricket betting odds explained to you effectively!
Betting odds and their types in sportsbooks online
Before we give you the cricket betting odds explained with examples and a betting guide tutorial, let us first go over the basics of what exactly betting odds are in sportsbooks. It is important to remember that betting odds in sportsbooks are those that help you understand which sub-betting option under each betting option is a good one to go with. Thus, betting odds are extremely important when it comes to betting online.
These betting odds are given as numbers, usually in decimals, besides the sub-betting options under each betting market by bookmakers. Bookmakers are those that maintain the sportsbook and are responsible for giving out payouts to those who win bets accordingly and so, by expertise and collecting years of data, they are qualified to predict the outcomes of the match in terms of numbers which happen to be the betting odds. In sports betting, there are three kinds of odds that you should look out for, they are:
Decimal odds: The most common betting options found in sportsbooks are the decimal betting odds. Here the payout is determined by multiplying the betting odds x the betting stake in the sportsbook. This is the most preferred odds format as calculating payouts with this is easier.
Fractional odds: Next, we have the Fractional odds which are not very common in the sportsbooks but it is helpful to learn about them. Fractional odds use the formula betting stake x (-/-) wherein – stands for the fraction numbers. This makes calculating payouts slightly difficult.
American odds: Also known as Moneyline bets, these will tell you how much you must wager on an option by giving you odds in terms of gains and losses using the + and – symbols respectively. The betting odds in this format use the formula Betting Stake (Betting odds / 100).
Cricket betting odds explained with 3 W88 examples
Now that you have understood the overview of betting odds in sports betting online, let us look deeper into the main section of the article which is cricket betting odds examples that you should know when learning How to Play Online Cricket Betting. To explain betting odds in cricket, let us look at 3 major examples by using popular betting options from the W88 Sportsbook.
Note:In the W88 sportsbook, the minimum betting stakes start from ₹100 only. So, we will be using ₹100 as the imagined wagering amount in the examples below.
1. Wagered on Moneyline betting option
Firstly, we have the Moneyline betting option which basically stands for “Who will win the match? Team 1 or Team 2? This betting option comes in many variants but the 2-way money line winner option is the most popular of them all.
In this example, Punjab Kings have been given the odds of 1.96 while Mumbai Indians have the betting odds of 1.84. As the odds are given in decimal, we will use the decimal odds formula and betting stake of ₹100 to analyze the outcomes.
Betting odds x Betting stake = Total Payout. This means that, 1.96 x 100 = ₹196. Thus, if Pubjab Kings wins the match, then the payout of ₹196 will be given to the people who bet on this team.
Betting odds x BEtting stake = Total Payout. This means that 1.84 x 100 = ₹184. Thus, if Mumbai Indians win the match, then a payout of ₹184 will be given to the people who bet on this team.
2. Wagered on Total Run Outs O/U betting option
Next is the total O/U or Over Under betting option is one of the most popular betting options found in sportsbooks online. Here, you must bet on whether the total run-outs would be over a certain given margin or under a certain given margin. This means you must bet to predict more than or less than a given margin given by bookies.
In this example, 0.5 is the margin, so the Over 0.5 sub-betting option has the odds of 1.57, and the Under 0.5 sub-betting option has the odds of 2.29 in the sportsbook. Again, since bet odds are in decimal we will be using its respective formula.
OVER 0.5 Betting odds: 1.57 Betting stake: ₹100
Total Payout = ₹157
Since betting odds x betting stake = Total Payout, here 1.57 x ₹100 = ₹157 is the payout. So, if the Over 0.5 betting option wins, then ₹157 would be given to those who bet on this option.
UNDER 0.5 Betting odds: 2.29 Betting stake: ₹100
Total Payout = ₹229
Betting odds x betting stake = Total Payout so 2.29 x 100 = ₹229 would be the payout. Thus, if the Under 0.5 betting option wins, then ₹229 would be given to those who bet on this option.
3. Wagered on Hundred Score betting option
The Hundred Score in a Match betting option is something that many people enjoy playing as this betting option is something people look forward to. A Hundred Score betting option in cricket is the betting option given to predict that a player would score 100 runs in a match. What makes this betting option simple however is it’s sub-betting options which is a simple yes or no.
Here, the sub-betting option Yes has betting odds of 6.50, and the sub-betting option No has betting odds of 111. So, using the decimal odds formula and ₹100 as the imagines betting stake we can derive that:
Betting odds x Betting stake = Total Payout which means 6.50 x 100 = ₹650. So, if the yes betting option wins the winner of the bet would get ₹650 as the payout.
NO Betting odds: 1.11 Betting stake: ₹100
Total Payout = ₹111
Betting odds x Betting stake = Total Payout which means 1.11 x 100 = ₹111. So, if the no betting option wins the winner of the bet would get ₹650 as the payout.
As you can see, the higher the betting odds the more payout you will receive, and the opposite is true for lower odds. This is because higher odds are given to those betting options that are less likely to win. Since they are less likely to win, the risk taken on betting on such a betting option is high and so, if your luck pays out, you will get bug rewards. But since the lower odds already predict that its betting option could win, there is low risk and so, you’d get payed accordingly if your bet wins.
Learn to bet on Cricket with higher odds using these 3 steps
Now that you understand how does cricket betting odds work in sportsbooks with the above cricket betting odds explanation above, you can easily go ahead and place your bets in the sportsbooks online. However, it is important that you pick a good online sportsbook to get more benefits. The W88 sportsbook gives you a W88 Promotion bonus of up to ₹5,000 on sportsbooks online and so, this makes it a good choice beginners can go with.
Step 1: Secure an account at W88 and pick a sportsbook
Firstly, it is important that you create a permanent betting account on the W88 official website as this will help you bet online securely. To do this you must click on ‘Join‘ which will help you access the registration form for the site.
Once you have filled out the form with precision, it is important that you click on ‘Login‘ to ensure that you have logged in with your new accounts to proceed with the steps.
Once done with creating an account in the W88 Register, you must click on the ‘Sports‘ product from the menubar above and then you can pick your preferred sportsbook from the available options.
Here, we decided to go with the e-Sports European sportsbook for efficient betting as the betting stakes here begin from ₹100 only, a pretty good beginner-friendly budget.
Step 2: Filter the sportsbook to get all cricket matches
In the next step, you will find yourself on a page with all betting options and their respective odds from different sports. So now, you must filter the sportsbook by clicking on ‘Cricket‘ from the options on the left side of your screen.
As you can see, you can further filter out the sportsbook by selecting matches from the Daily Match List, Top Leagues, or even All Leagues, all in accordance to what you prefer.
Once you have filtered the W88 Sportsbook according to what you prefer, you must scroll down and pick any match to bet on.
Here, we decided to go with the Lucknow vs. Chennai match under the Indian Premier League. When you find what you are looking for, you must click on the match and move on to step 2.
Step 3: Select your preferred betting option and lock bets
In the final step of this tutorial, you will find yourself on the page with all betting options from different markets for the match you have selected and so, now you must scroll down to pick your preferred betting option.
Once done, you must select your sub-betting option based on the given odds in the sportsbook as the odds will help you bet precisely.
Doing so would open a betting slip to your right side of the screen. Here you must enter the betting stake in the given slot to see the payout you would receive based on the given odds of the selected betting option.
Once you are done with this, you must click on ‘Place Bets‘ to lock in the bets on the odds. Here, we wagered ₹100 on Lucknow under the Money Line Winner option with betting odds of 2.03.
Note:It is important to remember that betting odds change during live matches as the game played in real-life would interfere with the predictions made in the past. But if you lock your bets early on odds, then your bets will be processed for only the odds that were given during the time you made your bets.
2 possible Cricket betting odds case outcomes
In the last section of this article, let us give you a detailed example of how the betting odds determine the payouts for the bets you place in sportsbooks online. So far, you know that the betting odds in the sportsbook help you bet precisely but it is also extremely important to acknowledge that using Online Betting Cricket Tips to play online is important as well to bet with accuracy.
Wagered on Lucknow Super Giants @ 2.03
Wagered on Chennai Super Kings @ 1.79
Condition: The bets on this option will win if Lucknow Super Giants win the real match
Condition: The bets on this option will win if Chennai Super Kings win the real match
Betting odds: 2.03
Betting odds: 1.79
Betting stake: ₹100
Betting stake: ₹100
If the bet wins: Payout of ₹203 is received
If the bet wins: Payout of ₹179 is received
If the bet losses: Betting stake is lost
If the bet losses: Betting stake is lost
As you can see in the given table above, the betting odds are multiplied by the betting stake to determine how much returns you would get if your bet wins using the formula Betting odds x Betting stake = Total Payout.
The higher the betting odds the more payout you will receive since the chances of winning here is lower and the risk taken is higher. But lower betting odds should be taken seriously too as winning in small amounts is better than not winning anything at all. To understand more cricket betting strategies on how to pick the best betting odds for any betting options under any market, use W88indi, your friendly online betting guide.
Conclusion
This was all about the Cricket Betting Odds Explained with examples from the W88 Sportsbook. Using W88 would help you get exciting sportsbook bonuses of up to ₹5,000 and more. Plus, using online betting guides like W88indi would give you insights on pro betting tips, tricks, and strategies. So, with these two powerful betting tools, you can eventually turn from beginner to a pro in no time by cricket betting online.
