The population of bettors is constantly growing as various betting sites pitch their tents in India. Unfortunately, novice players could miss out on a lot due to inexperience and knowledge insufficiency. As a result, they lose more money, which the experienced players pocket at the end of the day. Cricket is the number one sport people bet on to win money, and all players must understand what is at stake.
Rules to Make Money from Cricket Betting
Avoid Betting on Low Odds
If you intend to make money from cricket betting, wagering on low cricket odds is riskier and harmful in the long run. The returns are significantly lower and may take longer before you realise profitability. For example, in a match between India and Zimbabwe, India is the favourite at odds of 1.60. If you bet Rs 10,000 for India to win, your profit will be Rs 6000.
If you bet on a team with odds of 1.20, your profit will be Rs 2000, only 20% of the bet amount. Hence bet on a team with odds of 1.85 to 1.90 to maintain profitability of between 60% and 90%. The only way low odds are favourable is when placing accumulator bets, which is equally a risky venture.
Have Multiple Accounts
Having multiple accounts on one sportsbook is unethical, and you may get in trouble for going against the terms and conditions. However, you can have accounts across 3-5 different sportsbooks to help analyse the market and make money from cricket betting.
In the long run, you can bet with a standard amount and get a bigger payout depending on differences in odds. In addition, the losses on specific matches will not affect your bankroll as it happens when using only one account for cricket betting activities.
Place Bets of Equal Amounts
Often, punters tend to place bigger bets after losing the first one. They also wager a higher amount than the initial stake, which can be damaging. You must understand that only some of your bets will be successful, and you could lose a lot of money.
That is why it is crucial to place bets of the same amount. This ensures you minimise your losses if the results don’t go your way. And if the strategy works in your favour, you could win a lot of money.
Never Bet All your Money on One Match
Greed is one of the reasons online cricket betting remains unprofitable for most people. One way to stop greed is to spend only part of the amount on one bet. If the result is not in your favour, you lose all your money without anything to wager later.It also limits you from recovering your losses, hence the logic behind betting 10 to 15% of your total bankroll. Breaking down your funds guarantees you have enough to make money from cricket betting.
Bet on Live Games
While betting before a match starts gives you the advantage of higher odds, in-play betting would work to your advantage. Late entries could be advantageous because you get to watch the first few minutes of the match to get a hint of its progressions.
Sometimes, a few wickets may fall after the match starts, turning the favourite team into an underdog. You could bet on the other team and get a decent payout by playing in such a situation.
Betting involves many financial risks; without discipline, you may lose all your money and survive in debt. To bet responsibly, you must create a betting strategy and set a maximum bet limit to make money from cricket betting. You have reached your limit if you hit a predetermined sum of losses.
Moreover, betting responsibly also means taking all your profits while you can. It is common for bettors to hit their maximum profits and continue betting with the money. This gives you the blind hope that there is more money to win, which may affect your strategy.
Keep an Eye on the Toss
In the coin toss, team captains choose whether they are batting or fielding first, providing potential ground for deciding who wins the match. If one team captain chooses to bat after the toss, it gives the team an advantage to score more runs eventually.
Furthermore, you can grow your bankroll by betting on the team to win the toss. However, the toss may not be enough to predict a winning team accurately. You still need to analyse players, research teams, and compare odds.
Analyse Charts and Statistics
Cricket statistics and ranking charts are crucial for successful betting because they give more insight into a team’s performance. A clear picture of the tournament favourites and underdogs helps you make informed decisions to make money from cricket betting.
These stats further expound on individual player performance, especially if you are betting on the top bowler and batsman categories. To fully leverage the power of analysis, learn how to read charts and statistics from professionals.
After all, cricket betting is not as complex as many people perceive. It only takes reading the rules, building strategies and practising frequently to get it right. Failing to plan effectively is one reason people lose more than they wish. The rules mentioned above will help you reflect on your cricket betting and help you make informed decisions. Bonus tip; never bet on lesser-known matches because they are high-risk.