Odds are very important in sports betting, as they determine how much money you can make, and help in planning your betting strategy.
Odds are very similar across bookmakers, but some bookies generally have higher odds than their competitors. The differences in odds may seem too little to matter at first view, but they assume great significance in the long run.
In this article, we will shed more light on betting odds, and tell you the bookmakers that offer the best Indian Premier League odds.
Before we proceed to tell you where to find the best betting odds, let us briefly explain what odds are, and how to interpret these odds.
What are betting odds?
Betting odds represent the probability of an event happening. If you are just starting out your betting adventure, it is imperative that you understand how odds work, and how to interpret them because they are the determinants of how much money you can earn from your stake.
Odds are loosely classed as long and short odds. Short odds are associated with events that are likely to happen, while events with long odds are less likely to occur.
Take an Indian Premier League match between Mumbai Indians and the Rajasthan Royals as an example. Mumbai are heavy favourites to win this contest, and are therefore priced at shorter odds, say, 1.4; while the Royals, being underdogs, and carry longer odds, say 6.0.
Betting odds determine how much money you can generate from your stake. The odds for a particular event differs across bookmakers; hence, it is very important to keep an eye out for the bookies that offer the best odds so that you can maximize your winnings.
Betway: A beginner friendly betting platform with great IPL odds
Betway offers some of the best odds - especially on IPL!
Betway has its origins in Europe, but this betting site is perfectly adapted to Indian bettors. This bookmaker accepts our Rupees, and offers us convenient payment methods so that we do not have any trouble funding our accounts.
New customers also get to benefit from a welcome bonus that climbs as high as 8,000 Rupees plus many other wonderful promotions. It is very user-friendly and easily navigable, with effective customer service.
Betway is a European bookmaker with a very Indian feel!
Of course, all of these wouldn't mean much without a quality sportsbook, and we are proud to report that Betway possesses a sportsbook that perfectly complements all of these other wonderful features.
The cricket selection is excellent, furnished with diverse betting options, and very importantly, great betting odds. The Indian Premier League odds are some of the very best in the Indian betting market.
Visit Betway today to check out all of these wonderful features, claim your bonus and start enjoying the best IPL odds.
Betting Odds Format
Odds are presented in many different ways, but the most common formats here in India are the decimal and fractional formats. Other formats include the American (or money line), Hong Kong, Indonesian and Malay formats.
Most betting sites in India usually give bettors the option to switch between formats, so make sure you look out for this, and choose the odds format that you are most comfortable with.
The fractional odds format is very popular with British bookmakers, and is also referred to as the UK format. Like the name implies, the odds are presented as fractions, with two numbers separated by a slash.
To better understand how fractional odds work, let's return to the Indian Premier League for another example. While browsing through the IPL market on Betway, we found that the Mumbai Indians are 4/1 favourites to win the 2020 edition. "4/1" is read as "four to one".
This means that if you stake 1 Indian Rupee on Mumbai winning the IPL, your potential winnings are four times the stake, plus your initial stake. In effect, a bet of 1 Indian Rupee earns 5 Rupees. To calculate the potential returns on your stake, simply multiply your stake by the fractional odd, and add the stake to the total!
Decimal odds are more popular in other parts of Europe, and are more straightforward than the other types of odds formats. It is a lot easier to comprehend decimal odds, as they do not require any complex mathematical calculations to interpret.
In the Mumbai example above, the Indians are valued at 5.0 favourites to win the IPL. To determine your potential winnings, simply multiply your stake by odds. When you view odds in decimals, it is very easy to spot the favourites and the underdogs. Basically, the favourites carry the smaller numbers, and the underdogs have the higher numbers.
Decimal odds also make it easier to compare odds across bookmakers, and effortlessly determine which bookies offer the best odds.
Where to find the best IPL Betting Odds?
Because of the numerous betting sites in India, most of which offer quality IPL betting services, searching through these sites to find the best odds may be time-consuming and stressful. But you know what? We have done all of that hard work for you!
Bet365: Provides the Best IPL Betting Odds
Join Bet365 and experience the world's biggest bookmaker with the best IPL odds!
Arguably the biggest bookmaker in the world, bet365 scores big in many departments, one of which is the competitiveness of the Indian Premier League odds on this great bookmaker.
If you are looking to maximize your bets during the IPL, bet365 is the place to go. They have a very large IPL market, covering all the matches, and providing a vast array of cricket betting options, all presented at fantastic odds.
What's more? New customers are rewarded with a nice welcome bonus, and you also get to watch IPL matches via the site's live streaming service. Talk about the complete package!
If you are ready to take advantage of these wonderful features on bet365, simply click the "Join Bet365 Now" button below, and start enjoying the wonderful betting world that is bet365!
Didn't find what you were looking for? Try one of the other great betting sites in India. All of these betting sites provide great odds on the IPL!
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