Guide to Cricket Betting Rates in India

Betting rates play a vital role in deciding your fate in cricket betting. A good betting rate will always give you a higher amount of money in your winnings.

Therefore, it is very important to know about online cricket betting rates that are available on reliable cricket betting sites in India.

Obviously, you don’t want to lose your money just because your betting site is giving you low betting rates. It is okay if you are new to the world of online betting in India and don’t know how betting rates work. We are going to cover online cricket betting rates in India  and in in this article, we will explain:

• What are cricket betting rates along with tips on cricket betting 
• Why do betting rates change?
• Do bettors have a disadvantage when betting?

So, we will give you a detailed description of the cricket odds as well as some online betting tips on cricket. As a bettor who wants to win big with cricket betting, you should have basic knowledge about the game as well as the teams. In addition to this, you should also have a good understanding of how betting odds work.

The betting odds or betting rates are predictions made by the betting websites that tell the punters how much they can win by betting on a certain team or a player or over, and much more. In this article, you will learn all about reading and calculating betting rates for cricket.

Along with that, the tips that we will provide will give a major boost to your winnings. So, before you dive in to place your bet, very important to read all the information we have here.

Understanding Cricket Betting Rates

If you are wondering how to understand cricket betting rates, you don’t need to wait anymore. We will make cricket betting rates quite simple to understand with these cricket tips for free betting.

Simply put, cricket betting rates is the probability of a specific outcome occurring. Betting rates, also called odds, denote the profits you will make while betting. Bookmakers set their own profit margins, which is usually around 7% over the probable outcomes. To keep this profit margin low, you need to compare the best rates on various sites.

But how the cricket betting rates are calculated and how does one know which bet is the best? The math that goes behind calculating the rate will help you to decide if it’s worth pursuing the amount you can win as a payout.

Let us understand betting rates through an example.

Let’s assume Mumbai Indians is playing against Punjab Kings. The bookmakers give the betting rate of 1.27 for MI to win and 3.70 for PBKS to win. In order to work out your prospective wins based on the rates; you have to make the following calculations:

Winnings = (rate * bet) – bet

Let us say you have bet INR 2000 on MI to win at the rate of 1.27. You can expect, INR 2540 which is the total amount you will get. Out of INR 2540, you placed a bet for INR 2000, so your overall profit is INR 540.

See, how simple it is to understand! Aren’t you curious about how bookmakers set these rates? You too can learn about that.

An online betting site fixes the odds based on two things, its own margins and the probability of every outcome calculated using trends, experience, current statistics, etc.

Let us begin with the probability of every outcome in the T20 match between India and England.
● India Win: 60%
● England Win: 20%
● Draw: 20%

The total probability is 100% and there are two outcomes. These are the cricket match odds that the bookmakers give. Next, it’s time to add their own margin, that’s their profit.

Every bookmaker has its default margin. It is based on a particular match. Usually, the margins are around 105% to 107%. It mainly depends on where you are placing the bets.

● India to win rate of 1.54 – 65%
● England to win at a rate of 4.12 – 24%
● Draw to win at a rate of 5.55 – 18%

The total probability now stands at 107%. Does it make sense?

Thus, every time you bet; you are automatically at a disadvantage. As the bookmaker adds commission, the bet isn’t even. This is an obstacle you have to overcome if you have to procure profit.

Now how do you check cricket odds live? Well, all you have to do is visit the site, choose the match you want to bet on, and you will find the site listing the live rates.

Many tend to be confused with the fact that why do rates change. That’s exactly what we are going to explain in the next section. Why do betting rates change?

The rates change just because the bookmaker has to act on both sides, to make it even in order to secure a profit.

For instance, Team India has rates of -1.40 and you bet INR 140 to win INR 100 as the profit. The minus sign indicates India are favourites to win the game. On the other hand, Team England has rates of +120. You will have to bet INR 100 to win INR 120 profit. The positive sign indicates England are the underdogs in this match.

So, let’s assume team England loses the game. The bookmaker is going to collect INR 100 from the match. But wait, he has to pay the guy INR 100 INR who wagered on team India. Thus, he breaks even in the game.

In case the action is heavy on team England, the bookmaker can suffer a big loss. So, when they notice excessive action on team England, they are going to adjust the rates to push betters to bet on team India.

This way the bookmakers save themselves from a pitfall of excessive losses. Remember, the bookmakers are aiming for a breakeven. Just like you, they too want to collect a profit.

Now, you know how bookmakers set the betting rate and why it changes. You might now be looking to place your bets on real cricket betting apps in India.

So, do you want to place your bets on a cricket betting site offering good rates?

Surely, you should. Make sure that you watch today’s match by cricket live streaming on the OTT platforms or on television before getting started. You should also be aware of the tips for cricket betting before placing your bets.