Cricket odds betting: basic information
Before you start using cricket odds, it is important to know what it is and how it works. An odds is a numerical multiplier that expresses the probability of a particular event in a sporting encounter and includes a margin (amount) from the bookmaker. Information about such a concept will show the player the potential winnings of his bets. It is this that helps to understand in advance the mathematical calculations of what amounts and at what odds will give the maximum benefit. An important feature of such a topic is that you can independently not understand the question. It is enough just to seek the help of professionals on various specialised platforms like sportscafe.in.
Cricket betting odds: main types
The betting industry is incredibly diverse. That is why it is so important to carefully study all possible types of betting odds cricket, and choose the most preferred option. Each player decides for himself which one is more convenient for him. Best cricket betting odds have the following names: European, American and British. At the same time, you can choose them regardless of your location.
European online cricket betting odds
This type of coefficient appears as a decimal fraction. It is usually two decimal places after the decimal point. This coefficient allows you to determine the possible payout amount. The formula is simple: the bet amount is multiplied by the odds. The main thing is to remember about the commission. Walrus is the commission that the company charges for its services. It can be calculated as a percentage of the European odds using the following formula: (1 / K1 + 1 / K2 + 1 / Kn - 1) x 100, where K1, K2, Kn - odds on the outcomes, n - the number of variants in one market.
British cricket betting odds
Its appearance is that of an ordinary fraction. It allows you to determine the potential profit on betting by multiplying its size by the value of the fraction. There are no restrictions on the amount and size of the calculation. To recalculate these fractional coefficients, the following formula will help: Ke = Kb +1, where Ke is the European odds and Kb is the British odds.
American bookmaker odds
The third, but not the final type of odds. This type is written as an integer with a minus or plus sign. Plus means a potential profit for a bet of INR 100 and above. Minus shows the amount of bet needed to get for a potential net profit of any size. To convert plus American odds to European odds, you will need the formula:
Ke = Kap / 100 +1, where Ke is the European odds and Kap is the American plus odds;
Ke = 100 / (-Kam) +1, where Ke is the European odds and Kam is the American minus.
Other unique types of cricket odds
Apart from the three types of cricket odds, there are some other options. They are not available on all bookmaker platforms, but they do exist. These include:
Hong Kong cricket betting odds. This type is a bit similar to the European type as it is displayed in decimal form. However, the very essence is different. Hong Kong odds show only the net winnings that a player can get if he wins his bet. To calculate the net profit, you need to multiply the odds by the amount of your bet. And to know the total winnings, you just need to add the amount of your bet to the net profit number;
Indonesian betting odds. It looks the same as decimal betting odds. However, like the American type, it has positive and negative values. If the odds are shown with a "+" sign, it means that it shows the net profit on the bet. If the player sees the sign "-", then he can calculate how much to bet to make a profit. The formula is as follows: net profit = - (bet / odds) and total amount = - (amount / odds) + bet.
Malaysian cricket odds. In this case, bettors determine the odds with a plus or minus sign, but as a decimal fraction. If there is a minus sign, it indicates how much you need to bet to win. If there is a minus sign, it indicates how much you have to bet.
