Online betting on sports is proliferating in India, and cricket is the frontrunner for betting the favourite sports. Matches are played worldwide from international to the domestic level, and almost all these matches are available for betting. There are some great websites, like Marathon Bet, that cover every tournament taking place in the cricketing world, and you can participate in all of them.

However, if you are new to online betting in a cricket game, you will need to understand how the odds in cricket odds. If you have tried betting on cricket, then you must have come across odds being presented on the betting websites. Sometimes these odds are in the form of ratios, and sometimes they are in decimals. What do these numbers mean? What is the meaning of odds in cricket betting? Well, this article will comprehensively cover these questions to give you some cricket online betting tips.

What is the Meaning of Odds in Cricket Betting?

The limited-over matches are simple head-to-head markets while there is a possibility of a draw in test matches. Odds are simply a numerical way of presenting the probability of an outcome based on the bets already placed in the market. If you are betting against the general sentiment, then your odds are low, and you will make a massive amount of money in case you turn out to be right.

Odds are the indicators of how much money a better is set to win and lose in every bet then. The new bets are then placed on these odds. Let us see how this works.

Let us suppose the online website has put the odds for a match between India and Australia at 50-55.

Now, what does this 50-55 mean? This means that the odds on India is 50 and that of Australia is 55.

If a user places a bet of INR 100 on India winning the match, he will get INR 150 (100+50) back if India wins.

If India loses, then the user loses the entire amount of INR 100.

Similarly, if a user places a bet of INR 100 on Australia winning the match, he will get INR 155 (100+55) back if Australia wins.

However, the user will lose the entire amount if Australia loses the match.

There is another way of placing a bet with these odds. What if you place a bet on a side losing the match based not on its probability of winning?

For example, if a user places a bet of INR 100 on India losing the match, the user will get INR 155 (100+55) back if India loses.

However, if India wins the match, the user will lose only INR 55 (odds of the other team winning).

Things are not this simple, and most of the betting sites keep the odds in the form of decimals. Let us see how the decimal system of odds work:

Suppose the online betting website has placed the odds of a match between India and England at 1.2-3.1.

Now, what does this mean?

If a user places a bet of INR 100 on India winning the match, he will get INR 120 (100+{100*1.2}) back if India wins.

Hence, the decimals are the proportions in which the money will increase or decrease depending on the bet's outcome.