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Cricket Betting Formats in Cricket Cricket Tournaments Odds Is Cricket Betting Legal?

The Role of Cricket Tournaments in the Lucrative World of Sports Betting

Gone are the days when cricket was just considered to be an activity to get the blood flowing during those freezing summers on a rock in the Pacific, which is fondly known as England. Over the years, the game witnessed an evolution in terms of how cricket was perceived among the masses, but it is only in the past few decades that the game of cricket was completely revolutionized to suit the modern times.

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Cricket tournaments in sports betting

Today, cricket is a popular sport and an important activity in countries across Europe, Africa, Asia, and Australia. It is also not a surprise that countries such as India, with more than a billion in population strength, are really passionate about cricket. The game also enjoys a cult status among hard-core fans, with some even considering it be atop their religion.

Cricket is also gaining popularity in other markets such as the USA and Latin America, with some parts of Europe and the Middle East also rising up to the challenge. With new fans recognizing the fun aspect of cricket games, the International Cricket Council has modified its approach to cater to the second-largest community of sports lovers on the planet. Cricket tournaments and cricketing events happen all year long, and India is certainly one of the most important markets for the game. The Board of Control for Cricket in India is the richest cricketing association in the world, and Indian players are also some of the highest-paid sports athletes in the entire world.

While gaining popularity by the day, another part of the cricketing world is the ability for punters to bet on games and enjoy hefty payouts through bookies and sportsbooks. Cricket betting is not a new concept, as it has been a part of the game for many years now. However, new emerging markets for cricket betting, such as India, are facing a lot of challenges and regulatory hurdles that make it a highly volatile industry. If done properly, betting on world cricket tournaments can be a highly profitable and enjoyable journey for both fans and layman punters.

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What Is Cricket Betting All About?

Cricket betting involves betting on the outcome of a certain event, which can be the result of a game, the performance of the players, or the general progression of the match. There are two types of sports betting in cricket, which include sportsbook betting and exchange betting.

Betting on cricket

The sportsbook is a general and simple form of betting where a bookmaker offers fixed or variable odds on a certain outcome, which can either be accepted or rejected by the player. A sportsbook covers a vast number of possible outcomes, including pre-match and in-play wagers. Exchange betting, on the other hand, involves betting directly between two punters, where a bookie may act as an intermediary. Exchange betting also usually provides different kinds of odds on certain outcomes, but bets are matched between players, which means that punters may not be able to bet on all available outcomes.

The payouts in cricket betting depend on the odds for a particular wager. The odds are either provided as decimal points or as fraction and can be chosen according to the players’ preferences. The most common wagers have odds in the region of 1.01 to 10.0, while more exotic and high-risk wagers can provide up to 301.0 odds in some cases. Although the highest odds vary according to the sportsbook offered by a bookmaker, we weren’t able to see odds passing the 500.0 barrier at any established and reliable bookmakers.

Punters can start betting with just an initial investment of $5. Although there is technically no upper limit to the maximum amount that a player can bet on the markets, each bookmaker specifies a maximum wagering amount to ensure that they are able to cover their downside risks in the market. Larger bookmakers typically offer larger wagering potential, while online bookmakers stick to the small and medium scale betting market.

The Different Formats in Cricket

Cricket is different from other sports due to the different formats and varieties that exist within the tournaments. Since the early inception of cricket, the game has always been played as a test match but eventually witnessed a rise in different formats to keep up with modern times. Today, there are primarily four different formats, each with its individual set of rules regulations.

Test:

A test match is a game that is played for five consecutive days, with each side being eligible for two innings each. Of course, due to the nature of a test match, teams may not be able to complete their full quota of innings, or the match may wrap up earlier due to a fall in wickets or declaration of a draw. It is difficult to predict the outcome of a test match, as there is a higher probability of a draw, where no team wins the match.

However, the scores in a test match can be higher than that of the other formats, but the nature of scoring remains low. A test match gives plenty of betting opportunities over the five days of a match, but it is best suited for those punters who have the patience and ability to follow the game for a larger duration.

ODI:

A One Day International (ODI) match is a 50 over affair for both teams, where the aim of the teams is to win the game through a larger run margin or a larger wicket margin. The possibility of a draw is quite low in ODIs, which makes it more exciting for fans and players alike. ODI matches came into existence during the 1970s, but it was during the 80s and 90s that the format really gained traction among fans. ODI cricket tournaments also brought in more fans to the game, and it certainly opened up a wide range of possibilities for bettors and bookmakers.

T20:

The Twenty-Twenty format, more popularly known as T20, is the newest iteration of the cricket game that is extremely short in duration, with each team getting 20 overs to get an edge in the match. The shorter format resulted in big hitting and massive scoring possibilities, with wickets also having primary importance in the run-rate. T20 is usually over within three to four hours, which makes it extremely quick and convenient for both fans and players.

Although hard-core fans swear by the authenticity of Test and ODI, we cannot ignore the rising popularity of T20 cricket. Of course, T20 is also currently the largest market for cricket betting, with several bookies offering excellent sportsbooks to cater to the T20 market.

First Class:

First class cricket, county cricket, or division cricket is usually a domestic tournament organized by cricket associations of a particular country. Countries such as India, England, and Australia have a highly sophisticated domestic cricketing arena, where first class matches help in finding the top talents in the country.

First class cricket can either follow the Test, ODI, or T20 format, with some First class matches being tweaked to suit the nature of the tournament. It is also common for domestic cricket tournaments to have matches in three- or four-day durations. Although first class cricket is followed closely by cricket experts and ardent cricket fans, it is not as popular as international matches. Nevertheless, bookmakers do provide several betting options and wagers for first class matches through their sportsbook.

What Are the Most Important Cricket Tournaments?

Cricket is played all through the year, and several top countries regularly schedule different matches according to the different seasons and fixtures. Top-rated cricket teams are made part of the major leagues and tournaments, while the second-tier teams get their own minor leagues to hone their skills and move to the big leagues. Several countries also tour other countries by organizing various tournaments, which usually include all the three main formats in cricket.

Major Leagues

The major cricket tournaments such as the Cricket World Cup, the T20 World Cup, Test Matches, T20 Matches, the Indian Premier League (IPL), the Champions Trophy, and the Big Bash Leagues are some of the major cricketing leagues and tournaments are played by some of the most eminent athletes and teams in the market. These major leagues make the big bucks and offer plenty of betting opportunities for punters. These matches also have the highest betting volumes, often resulting in millions of dollars in payouts for the correct predictions.

Major cricket leagues

These major league matches also have the distinction of helping players take home a hefty pay, which can reach millions of dollars for high-profile players. There are several cricket players in the world, especially from India, who earn more than some of the top players in NBA, NFL, football, and the European leagues.

There are often controversies that surround these big leagues, particularly in the form of match-fixing by bookies through unethical means. While this poses as a serious threat for honest players, bookmakers still offer their sportsbooks and betting platforms to ensure that the entire betting process is fair, transparent, and according to a prescribed set of ethical guidelines.

Making money in the major cricket leagues is often a full-time job for countless punters, although there is also a risk of losing big money within a fraction of the time. Therefore, it is your job to bet responsibly and to avoid taking unnecessary risks by betting money that you cannot afford to lose.

Minor Leagues

There are several minor leagues, both domestic and international, which are not as popular as the most established tournaments. County cricket, TPL cricket tournament, Bangladesh Premier League, and other small-scale leagues look to take advantage of the popularity of cricket by riding on the success enjoyed by other major leagues. Most online bookmakers usually try to include all the minor leagues and other cricket tournaments that may interest its players, but it is virtually impossible to list all the games being played in the world into a limited sportsbook.

In India, there are a few cricket tournaments in Mumbai and an odd cricket tournament in Delhi or two that may make it into the sportsbook of established online bookies, but we wouldn’t advise players to choose bookmakers solely on this criterion. Minor cricket tournaments rarely invoke the kind of response enjoyed by major matches, and it doesn’t make any financial sense for bookies to include all the smaller matches in their sportsbook.

Keeping Track of Upcoming Cricket Tournaments

All bookmakers have a detailed schedule on their websites and their mobile betting apps, which helps players to have a proper fixture of all matches and tournaments in a given season. Although players can also use external sources to keep track of all the future matches that appeal to them, it is always a good idea to choose a bookmaker that focuses on the matches that you wish to take part in. For instance, some online bookmakers concentrate only on Indian cricket matches, while other bookies offer a wide range of markets, including minor league games.

However, the problem with choosing a bookie with a large collection of games is that they might not be able to offer the sheer number of wagers and odds as offered by a specialized or targeted bookmaker. After all, you should concentrate on finding a bookie that suits your tastes perfectly, so that you do not miss out on betting on any upcoming cricket tournaments.

Which Cricket Tournament Games Offer the Best Odds?

Different leagues offer different odds, and the payouts really vary according to the popularity of the games and the number of participants. The best odds may not necessarily be uniform across the board for punters, as some players prefer high-risk odds, while others – a more nominal spread. However, if you are looking for the most varieties of wagers and high volumes, you should stick to the major matches.

Conversely, if you are a professional punter that has the ability to analyze match statistics, then the minor league games can offer better payouts, but at the expense of higher risk. Therefore, for newbie and occasional punters, we would advise you to get the hang of the markets by sticking to the larger games and then move to the smaller leagues after a bit of exposure to the cricket betting industry.

Choosing the Best Bookmaker for Cricket Betting

We have reviewed some of the best cricket bookmakers in the market that offer excellent odds and great betting experience. Of course, it is difficult to pick an exact winner, but the choice of a bookmaker depends on a punter’s betting experience.

Regardless of the multiple operators in the market, we have found that almost all bookmakers offer a similar betting experience, even if they claim to have a completely proprietary cricket betting interface. Therefore, before betting large amounts of money on your favorite matches, try to bet small on different games and experiment with your betting strategies. Unlike financial brokers and casinos, players don’t get the opportunity to play on a demo account, which may complicate matters a bit. Read our sports bookmaker reviews for more information on the top sportsbooks in the market.

Cricket betting has always been a controversial subject in India, aided by the various match-fixing scandals and corruption that has plagued the sport. As it stands, the Indian Government and the various authorities are aware of the implication of sports betting on cricket matches, especially with the popularity of the IPL among global fans.

Incidentally, the Indian Government has banned cricket betting in all forms, with some State Governments also implementing several policies against wagering on matches, either through online or offline bookmakers. Regardless, there hasn’t been a complete shutdown by the authorities, which allows several bookmakers to cater to Indian punters through their online presence.

While it may not be entirely legal to bet on cricket matches from India, there are some loopholes in the law that enable punters to place indirect bet on wagers without worrying about the consequences. Of course, Indian players should follow all the laws of the nation and adhere to the strict AML policies. Therefore, if done correctly, betting on cricket matches from India is indeed a great possibility. All of our recommended bookmakers do cater to the Indian market by offering their services without any restrictions, and we will keep you updated if there are any changes to the Indian Government’s policies towards cricket betting.


A List of Guidelines to Consider before Betting on Cricket Games

  • Only bet the maximum amount that you can afford to lose.
  • Always choose a regulated and licensed bookmaker.
  • There are countless betting options with a sportsbook, but you should only bet on wagers that you are comfortable with.
  • Cricket games are as unpredictable as other sporting events, so don’t expect guaranteed profits.
  • Bookmakers source their feeds and live streams from their partners, which may not be entirely accurate. Always use multiple feeds to stay updated.
  • Higher odds do not generally mean higher profits, as only exotic and highly unlikely scenarios offer the best payouts.
  • Know when to stop. If you are trying to double down on your losses or trying to get back at the market, you should take a break from gambling.
  • If you need help, always seek assistance from the bookmaker or your regional therapy organizations.
  • Never break the law and, if asked to do so, cooperate with your local authorities to the fullest extent.
  • Always withdraw your winnings and use sound analysis of the statistics to determine your bets.
Last modified: March 30th, 2020 by Amit Patel
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*Available to new customers only. Make a qualifying deposit of 717 INR ($10) or more and claim the offer within 30 days of registering your account to qualify for 15% of that amount in Bet Credits, up to a maximum of 4300 INR ($60). Once claimed, your Bet Credits will be held in your account balance and are non-withdrawable.