Betting has started for the Indian Premier League (IPL), one of India’s riveting cricketing competitions. It comes as no surprise then that today IPL betting market is going off the charts!
If you are interested in betting, it is essential to know how to read IPL odds correctly. When you misread the odds, you can end up making dangerous bets with lower winning chances.
Scroll down to find out the 5 important IPL Betting tips that will help you make the most of this betting opportunity.
1. Pay Attention To The Plus And Minus Signs
Odds like “ +200/-160″ mean you are dealing with moneyline or American odds.
- RCB – +200
- CSK – -160
The (-) sign is referring to the odds of the team that are favorites to win the match. The (+) refers to the underdogs.
+200 means you will win 200 INR on every 100 INR wager on RCB, totaling your payout as INR 300. -160 means you will have to risk 160 INR to win 100 INR, totaling your payout as 260 INR.
Even if the payout by RCB is higher, CSK is more likely to win. So examining the signs along with the numbers is important.
2. Calculate Your Implied Probability With Decimal Odds
It is easier to calculate the implied probability of winning a bet with decimal odds. Decimal odds are the easiest to learn and are listed as–
- RCB – 4.13
- CSK – 1.75
To read these for calculating the probability of winning, you just follow this simple formula – 1/decimal odds number. For instance, the implied probability of RCB is (1/4.13) 24.2%, and CSK is (1/1.75) 57.1%. So CSK has a better probability of winning.
It is also easy to calculate the total payout with decimal odds. You simply need to multiply the wager amount with the decimal number!
3. Calculate The Potential Winnings With Fractional Odds
Fractional odds will provide the figures as 8/3. To calculate winnings, these are pretty straightforward. So 8/3 means you will win 8 INR for every 3 INR stake. The total winnings are also easy to calculate as –
For 10 INR bet,
StakexNumerator/Denominator – 10×8/3 – winnings of 26.66 INR
That’s all the calculation you will have to do!
4. Consider The Juice Cut When Calculating Odds
Juice or vig is the cut bookmakers take out of your winnings. Sportbooks add the vig to every odd as overround, shifting the actual possibility of winning. Before placing your bet, you will need to remove the vig from the odds to gain a more accurate picture of the odds.
But when it comes to online betting, the bookmakers do not take a cut of your winnings from you, infact here you are more incentivized and get free bets where your losses are covered.
5. Consider The Odds Of A Push
A push means a tie between the teams. The point spread typically adds half a point to each odds to avoid this situation. However, that is not always the case. If a push occurs, you will just get your money back. This happens in the case of sports such as Football betting more than other sports. Head over to the article to read more about football betting in India and the sites that you should chose to bet on rather dodgy sites that may scam you.
So when reading the odds for making a bet, be aware if there is a possibility of a push as well.
Finding the best cricket betting sites in India
With this information, you are now an expert sharp bettor who will take their time to meticulously examine the odds. Time to get on one of the best Online IPL betting websites in India for IPL and start winning big bucks! Make sure that you are able to get the best IPL bonuses in the market and compare them with each other so you can get the best out of them. You not only have a chance of winning cash prizes and bonues but even win gifts such as free Iphone 12s and signed balls by Virendra Sehwag.
Hi guys, I am Faizan, an online casino game enthusiast with over 5+ years of experience. I am passionate about online casino games, and my sole motive is to provide you with all the trustful information regarding online gambling in India. I love to play slots, RNG, and Live Casino games.
My articles have been featured in Cricket Addictor, East Mojo, 1883 and The Bridge.