For betting effectively and earning some good profit through it, it’s very important to know the basics of betting. In this article, we will talk about one of the vital topics of betting, which is odds, in the reference of Bet365 Cricket odds.
Bet365 Cricket odds
Many new people, who are not used to the meaning of odds in betting, may get confused about its real meaning in the betting industry. The odds in betting are quite different from the odd numbers or odd jobs. Odds are generally expressed in the form of digits, and their digits show the chances of winning, losing, amount to be bet, and many other such things. In betting, there are many types of odds, and each odd acts differently. It’s expected from all the gamblers to know all the details about odds if they really want to earn good money from betting.
Among all the top odds of betting in a cricket, the negative odds are very important to know about. The betting odds are generally expressed with the combination of minus sign and some digits. These odds generally pay you less than that about which you keep a bet in cricket. For example, if you are betting on the match between India and Australia and want to make a bet for winning India. The negative odds, in this case, maybe represented as -120. It indicates that if you deposit a betting amount of Rs 120 on winning the Indian team and it wins, you will get Rs 100 along with your 120 Rs. Similarly, if you put -11, you win Rs 10 as winning amount and total 21 and so on. However, while the team loses, you will have to lose your whole betting stakes or money too.
Positive odds are also part of Bet365, and it is used in the matches in India and in some other countries. In this type of betting, you generally receive more than you put the amount for betting. For an example of the betting odds in any cricket match between India and Sri Lanka is +100 and you bet for winning India and India wins. In these cases, you get 130 rupees. It makes you win 130 +100 of your betting about. Thus in total, you will get Rs230. Similarly, if you bet for +10, you win, get 23, and so on. While losing the bet, none of your betting amount you get back even in positive odds.
Odd vs. probability
Many people think that probability or chances and odds both are the same. It is not true, actually. They probability generally gives the chances of occurring and not occurring of any event. It is the ratio of favorable occurrence vs. total occurrence. On the other hand, odds do not show any such things. It is actually the ratio of the favorable occurrence to the non-favorable occurrence.
We hope the above discussion could help you the way you wanted and needed.