The market rate is simply the odds that are given to each team playing in that particular match. A good example is England playing against India and in this instance; England is given an odd of 1.6 to win the match. What this represents is probability or the likelihood of England winning this particular game.
This is a reflection of the chance of winning the match the bookmarkers have set for England. The chance can be converted into percentage by simply dividing the odd given by one. That is 1/1.16. This gives you the probability given to England to win this match, which is, 0.86 multiplied by 100 to give you 86%.
Understanding this probability and what it implies will go a long way in helping you if you want to be successful at betting in the world of cricket. So practically let us say that you have placed a bet on an upcoming match. If you win the bet, what does it mean for you? The converting rate is usually calculate by multiplying your stake by the odd given. So if you place $10 for the game and the odd is 1.6 you multiply this by your stake, which is 10*1.6. Your profit on the other hand is your total winning minus your stake, which is 16-10. In this example, your profit will be $6.
The most important thing to do when betting is that you should only place a bet when you have a betting value. A betting value is calculated by multiplying the decimal odds by your assessed probability. In an example, lets but England up against South Africa in a test match and the bookmarkers give South Africa odds of four to win this particular match.
Finding Good Odds
You conduct your research and find that South Africa has a 30% chance of winning this match. You will find your value bet by multiplying the odd given (4) by your assessed probability in this 0.3 then subtract 1 from this. That is (4*0.3)-1. The value will be 0.2 you have a value bet whenever the value you calculate is greater than zero. In this case, the odd being 4 and your assessed probability 30%, there is a 20% value in this odd offered.
The main reason you should bet on value odds is that in cricket betting, the key to success is in making a better assessment than that made by bookmakers in their odds. Continued exercising of this will ensure that you become an excellent cricket better. In the above example, the bookmarkers gave South Africa an odd of four, which is a 25% to win, and in your analysis, you gave it a 30% chance of winning.
This presents a great opportunity to place a value bet as your analysis shows that you believe South Arica has a greater winning chance than that presented by the bookmarker. It is mainly about betting on matches that you believe have better possibilities in your assessment than the ones given by bookmarkers in their odds.
Of course, not all bookies provide high-value odds. Some betting sites are better than others. Take 22bet as an example. Not only does it offer competitive odds but it also gives out generous bonuses to players.
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Types of Bets
The numbers of ways in which you can bet in cricket have increased as most bookmarkers now gave a wider menu on cricket betting giving you the opportunity to exploit a wider value betting range than before. You can bet from T20 format that has gained popularity, the one-day international games or even the test cricket matches.
The most common and most betted on market in cricket is obviously the outcome of the match. We have only two possibilities in limited over matches, which are either of the two teams to win.
There is however, another possibility that presents itself in the test matches which is a draw. In a series outcome, it gets better as you can bet on a winner and the exact score of the series. However always remember that the chances of drawing are decreasing due to increase in rate rates when placing a test match bet.
When it comes to leading run scorer and wicket takers, bettors can punt on this in each match played. It is a highly profitable market for you to bet on due to occurrence of trends every now and then.
You can also bet on high opening partnership as it is often noted that some batsman can struggle while facing a particular bowler. As such, if you conduct your research well on how certain batsmen perform against certain bowlers, you can get great returns from this.
The Player Factor
Like in any other sport, there are always those stands out players that have a certain x-factor in their style of play. This gives them the ability to put on a show in their performance and win the match. You can bet on this in the man of the match market as a good batsman or a bowler that is known for taking wickets are good candidates for you and would yield very nice returns.
Another field that is growing in popularity is betting on the number of boundaries, from fours to sixes. This can be because of a term match up that has players who have the ability to easily hit these numbers or batsmen than can easily work the ball and get fours. You should also consider the ground the match is played on as some favor hitting six due to their small natures or high altitude atmospheres that allow the ball to glide in the air flying further.
Before placing your bet you should also know the conditions to expect as no other sport in the world is affected by playing conditions more than cricket. Any cricket bettor knows that knowing the weather that will prevail during the game is important. This will enable you to gauge if the weather will have an impact on the game. Rain is normally expected in test matches. This comes naturally, as over a spell of say five games, rain is expected and this will enable you to know how much playtime will be lost.