Odds are an important part of sports betting since it provides a possible outcome for the sporting event. If you are looking to start wagering your money on your favourite team, it is essential to know the different types of odds and how they work.

If you are an avid fan of cricket and want to bet on your favourite team, in this article, you will find odds explained.

Decimal

Most cricket odds are presented in a decimal format since this is the most common out of all of them. For example, if the odds of your team is at 25.50 and you placed a bet of $100, then, your possible payout, if they win, will be $100 x 25.50 or $2,550.

Formula:

(Odds) x (Wagered Money) = Total Payout

Fraction

Fraction odds are mostly used in the United Kingdom. It follows the condition: if the first number of the fraction is larger than the second, then the potential payout will be bigger than the amount wagered. However, if the second number is larger than the first, then, the payout will be lower than the wagered money.

Formulas:

If the first number is larger then, (Stake x Odd = Profit) + Initial Stake = Total Payout

If the second number is larger, then, (Stake/Odd = Profit) + Initial Stake = Total Payout

Moneyline

Moneyline is typically used by American sportsbooks. Moneyline odds make use of symbols such as positive (+) and negative (-) for the odds of the match. The positive (+) is used for the underdog team, while negative (-) is used for the favoured team.

Formulas:

Favourite formula is (Stake / Odd = Profit) + Stake = Total Payout

Underdog formula is (Stake x Odd = Profit) + Stake = Total Payout

Malay

Cricket odds in Malay follow a similar method as Moneyline through the use of the positive (+) and negative (-) symbols. The main difference between the two is that in Malay, positive (+) is used for the favoured team, while negative (-) is for the underdog team.

Formulas:

The formula for the favourite is (Stake x Odd = Profit) + Stake = Total Payout

the underdog is (Stake / Odd = Profit) + Stake = Total Payout

Indonesian

Indonesian odds are similar to Moneyline odds where the negative (-) symbol is used for the favoured team, while the (+) symbol is for the underdog.

Formulas:

Favourite formula is (Stake / Odd = Profit) + Stake = Total Payout

Underdog formula is (Stake x Odd = Profit) + Stake = Total Payout

Having cricket odds explained, you are now more aware of the next time you put a wager on your favoured team. Make sure to equip yourself with enough knowledge before you begin with sports betting.