What are Odds in Cricket Betting?

Odds are an essential part of sports betting as they allow you to work out your potential returns on any bet you place. In cricket, it’s no different! All of the best cricket betting sites will offer you odds in at least one of three formats: fractional, decimal, or moneyline. 

We’re going to teach you how to read betting odds in cricket, as well as how to calculate them. With any luck, by the end of this article, you’ll be feeling confident enough to understand and work out odds on all upcoming cricket games.

Odds Meaning In Cricket 

Across all sports, odds have the same meaning: the amount of profit you’d make from your stake, on a successful bet. When understanding how cricket betting odds work, this is the most important thing to keep in mind.

The next thing to think about are the three different types of odds that you might come across. Below we’ll look at how the odds are presented and then we’ll go onto how they differ from one another and how to calculate betting odds in cricket.

●    Fractional: Fractional odds are displayed as a fraction, where the number on the right of the slash is your stake and the number on the left is your profit (for example 4/1). They’re most commonly used in the UK and Ireland.
●    Decimal: Decimal odds are displayed as a whole number with up to two decimal places. The number represents the total returns from a $1 bet (for example 5). They’re most commonly used in Europe, but often used in Australia and New Zealand too.
●    Moneyline: Moneyline odds are so widely used in the United States that they’re often referred to as American odds. They’re written as a whole number with a plus or minus before it. Odds with a plus refer to the underdog (e.g. +400) and odds with a minus refer to the favourite (e.g. -150). 

How Do Cricket Betting Odds Work?

Now that you know what the three types of odds are in cricket betting, let’s dive a little deeper into how they each work. 

How Do Fractional Odds Work in Cricket?

In cricket betting, fractional odds are displayed as a fraction, where the number to the right of the slash (the denominator) represents your stake and the number to the left (the numerator) represents your profit. When you calculate using fractional odds, your stake is not included in the total returns.

How Do Decimal Odds Work in Cricket?

Decimal odds work in a similar way to fractional odds, both in cricket betting, and other sports too. They assume that your stake is always 1, with the number that’s displayed signifying your total returns from a stake amount of 1. Your stake is always included when you calculate decimal odds.

How Do Moneyline Odds Work in Cricket?

When it comes to how betting odds work in cricket moneyline odds work quite differently to the rest. We already know that underdogs have a plus + and favourites have a - ahead of the odds, but what does that actually mean?

●    Odds with a plus (for example +600) refer to the amount you’d win from a $100 stake. 
●    Odds with a minus (for example -175) refer to the amount you’d need to bet to win $100.

How to Calculate Betting Odds in Cricket 

Hopefully, you’re feeling confident that you understand how betting odds work in cricket. The next step is to look at how to calculate them. Just like before, we’ll look at each type of odds individually.

Let’s imagine that India is playing England in a big test match and you think that India is going to win. You have $20 that you want to bet on them, this is how you calculate your returns for each different variety of betting odds.

How to Calculate Fractional Betting Odds in Cricket

India’s odds are 3/1 to win this match. In order to work out your returns from your $20 stake, you need to do the following calculations:

1 (denominator) x ? = 20 (stake) The ? answer here is 20, because 1 x 20 = 20. We now need to use this answer for the next part.

3 (numerator) x 20 (last answer) = 60 (profit)
We now know that you have a $60 profit at these odds, with a $20 stake. If you’d like to calculate your total returns (including stake) then just add your stake on for a total of $80.

How to Calculate Decimal Betting Odds in Cricket

India’s decimal odds are 4 to win this match (that’s the same as fractional odds of 3/1). To work out the returns from a $20 stake, we just need to do one sum:

4 (decimal odds) x 20 (stake) = 80 (total returns)

If you want to work out your profit instead of your returns, then you just need to subtract your initial stake, for a total profit of $60.

How to Calculate Moneyline Betting Odds in Cricket

From the work we did on how odds work in cricket betting, you’ll know that moneyline odds work a little differently. 

Let’s take a look at the same bet, $20 on India to win at odds of +300 (that’s the same as decimal odds of 4 and fractional odds of 3/1).

Moneyline odds are based on a wager of $100 being used, so to best work out our stake we need to do the following sum:

20 (our stake) x ? = 100 The ? answer here is 5, we’ll use that for the next sum.
300 (moneyline odds) / 5 (last answer) = 60 (total profit)

Like fractional odds, if you’d like to work out your total returns you just need to add the stake to this answer.