Odd Types in IPL Betting
Different online sportsbooks use different styles of calculating the odds. So you must know about these odd types in detail. There are three popular types of odds for betting in IPL out there. These are –
- Decimal Odds: The decimal odds are the easiest when it comes to calculation. It is mostly used by the bookmakers that reside in the Australian region. Also known as the European odd, decimal odds are calculated in the following method:
Stake * Odds = Return
- Moneyline Odds: Moneyline odds are dependent on the favorite and the underdog tags. The favorites have a minus sign in front of them. The underdogs have a negative sign in front of them. It is mainly used by bookmakers that reside in the United States. These types of odds are calculated using the following formula –
Positive Moneyline Odds – Potential Profit = Stake * (Odds/100)0
Negative Moneyline Odds – Profit = Stake / (Odds/100)
- Fractional Odds: Fractions are used to calculate these types of odds. To separate the numbers, a slash is used. Other than that, some bookmakers may use the hyphen as well. Usually, a fractional odd will look something like this, 9/1. Here is the formula that is used to determine the fractional odds in an IPL match.
For Single Bets – Stake * (L / R) + 1) = Return
For Multiple Bets – Stake * ((L / R) + 1) * ((L / R) + 1) * ((L / R) + 1) = Return
Bet types on IPL
There are several types of bets regardless of the odds in any sportsbook. The most popular among them are –
- Winner of the Match: The bet is set to predict which of the two IPL teams involved will win the match.
- Best Batsman: The bets are set in two ways. One is where people wager on who is most likely to become the best batsman of a single match. Another is where the punters determine the possible best batsman of the tournament.
- Best Bowler: The best bowler bet is pretty similar to that of the best batsman bet. Both the best bowler of the match and that of the tournament are wagered on.
- Man of the Match: There is one player that will always stand out as the most valuable and effective compared to the others. The man of the match is the most influential player in the whole game. He is the target of this bet.
- Toss: Toss is the determiner of which team will bat or bowl first. The bet is made on the luck of which team may win the coin flip.
- Team Total: The bet is made on the total runs of a team. It is also wagered on determining the total score of both teams.
- First Over Total: As the first over of the match plays an essential role in a game, the betting format includes guessing its outcome.
- Boundaries: The number of 4’s and 6’s by a team or in the entire match or by specific teams are betted on in this bet type.
Betting Odds by Top Sportsbooks
Different sportsbooks differently present the odds in IPL. But still, there is significant similarity among all of them. They will put the odds in front of you so you can choose whether not to bet based on those odds. Make sure that you select the odds that are likely to get you the highest winnings. We have listed the top IPL odds offered by some of the best sportsbooks.
|Chennai Super Kings||8.00||7.50||8.00|
|Kolkata Knight Riders||7.00||7.00||7.00|
|Punjab Kings (Kings XI Punjab)||10.00||10.00||10.00|
|Royal Challengers Bangalore||5.70||6.00||6.00|
Questions that need to be answered.
What is the Best Sportsbook in Terms of Betting Odds in IPL?
It can be said that Betway is the best sportsbook so far in terms of betting odds in IPL.
Is IPL Betting Legal in India Online?
It is entirely legal to bet on IPL matches online. There is no law preventing or regarding online IPL betting in India.
Which Team is Most Likely to Win the IPL 2021?
As a fan favorite and a consistent winner of the most IPL series, it can be said that Mumbai Indians have the most likely chance of winning this year’s IPL. Delhi Capitals are a second option, but they haven’t won any trophies yet.
What are the Odds in Cricket Betting?
Odds are the ratio of how much money you can make from placing a bet. The odds are set by the possibility of the result of a match. It is set by the bookmakers throughout the tournaments using different methods.