This article is going to introduce the concept of IPL cricket betting on the Indian Premier League (IPL), the world’s most successful and popular franchise cricket tournament. It explores the steps for those wanting to bet on the IPL, some of the fundamentals that need to be understood, and the common betting strategies.
This article also briefly outlines the legal situation, along with possible risks and pitfalls. It also outlines the concept of value betting, the caveats attached to any form of betting, and the need for self-discipline.
What is IPL cricket betting?
The IPL, first contested in 2008, is the richest cricket league in the world (it ranks fifth among all sports leagues globally), with a market value in excess of US $16 billion. Currently contested between ten franchises, it traditionally runs between March and May each year and features not only the best of Indian talent but also many overseas stars. It is watched by more than 500 million people in India and another two billion worldwide. Each match consists of 20 overs a side.
Cricket betting odds are simply the probability of something happening expressed in numerical format, usually expressed as decimals. There are two types of betting – ante post and live betting. Ante-post means placing a bet on a match before it begins, whilst, as it suggests, live betting involves betting while a game is actually in progress. For some, this adds enjoyment to watching a match, although it requires a strong nerve and a fast and reliable internet connection. Those who do not like making decisions under time pressure should probably avoid this.
- Season duration: Traditionally runs between March and May
- Types of betting:
- Ante-post betting: Placing bets before the match begins
- Live betting: Placing bets during an ongoing game
Why choose IPL for cricket betting?
One of the primary reasons the IPL is such a magnet for sports betting is that during the season, there are matches almost every day, and sometimes double headers as well.
There is also the sheer multiplicity of bets available. Whilst the most common bet is simply who will win the match, odds will be offered on the top scorer, who will take the most runs, and how many runs will be scored in the match (the over/under gamble is one of the most popular in all sports betting).
In addition, there are more arcane bets, although these should be reserved for expert gamblers. For example, whether there will be a maiden over bowled, a player taking a hat-trick or making a century.
Another advantage of the IPL is its popularity. Every betting platform offers odds on it, which means that the market is highly competitive. If somebody does not like the odds offered by one platform, there are plenty of alternatives.
5 easy steps to start IPL cricket betting
Step 1: Understand the rules and gameplay of IPL cricket betting
Before even considering betting on any sport like cricket, a player should make sure that they understand the game’s rules and the basis of betting such as how odds are set, and the common types of bet.
Step 2: Set self-guidelines
Anybody wanting to bet on sports—or indeed on anything—needs to set firm guidelines before they start. Determine how much they can afford to lose—realistically, most bets fail—and stick to it rigorously. If they have enough self-awareness to realize that it could become a problem for them, then better not to start at all.
Step 3: Choose a suitable online betting platform
It is worth doing some comparison between betting platforms before choosing a suitable one. Read the online reviews and see how the various sites match up in terms of customer service and support, the range of bets offered, promotions and bonus schemes on offer, whether loyalty programs are available, and the ease of making deposits and withdrawals.
Read more: BetPro Exchange Registration: 6 Steps to Sign Up Easily
Step 4: Analyze IPL matches and teams
The old adage “failing to plan is planning to fail” applies to IPL cricket betting as it does to many other walks of life. In order to have the best chance of success when making a bet, it is necessary to do a certain amount of homework first.
Begin by researching each team. What are their strengths and weaknesses? Do they have a strong batting lineup? Are their bowlers in form? Do they have a good roster of all-rounders? Then, it is important to consider their form. Have they won their recent matches, or are they in the middle of a slump?
Traditionally, playing at home is an advantage. That is because the home side curates the pitch so that it suits their strengths. The support of a home crowd, especially in the raucous atmosphere of the Indian Premier League, can also be a boost.
Few sports are as dependent on the conditions as cricket. Learn about the type of surface on which a match is being played, and understand which team this will likely favour.
Step 5: Start IPL cricket betting
Only once somebody has mastered these fundamentals should they start IPL cricket betting.
How do the odds of IPL cricket betting work?
Odds are simply the probability of an outcome expressed in numerical form. However, to add confusion to the mix, there are three ways of calculating odds.
1. Fractional odds
Fractional odds sometimes are known as the British system—indicate the amount that can be won compared to the original stake. For example, 2/1 odds mean that for every pound staked, a successful bet means winnings of two pounds (plus the original stake is returned).
2. Decimal odds
Decimal odds are popular in most of Europe. They are the easiest to understand because they involve multiplying the odds by the stake to get the return. 3.0 odds means that for a ₤1 bet, the return for a winning bet will be ₤3.
3. Moneyline
It’s commonly used in America, and is arguably the most confusing betting system because it comes in two formats, depending on whether an outcome is more or less likely to occur; for example, +200 odds indicate that if you bet ₤100, a punter will get ₤200 for a successful bet. Conversely, – 200 suggests that ₤200 needs to be bet to get ₤100 in return.
(The original stake money is always returned with a successful bet.)
Top 4 IPL cricket betting platforms
There are dozens of betting sites available, plus many unlicensed bookmakers who should be avoided at all costs. Many of these have little scruples about taking people’s money and then disappearing, never to be seen again. Remember to choose one reputable and subject to licensing and other controls. Here are the sites we recommend:
1. bet365
One of the world’s biggest online sports betting platforms, Bet365 offers users a diverse selection of betting options, a responsive website, in-play betting, and a dedicated mobile app. However, some countries restrict access to it.
2. Unibet
Another globally recognised sports betting brand, Unibet, claims to offer some of the most comprehensive odds in the market. It covers a wide range of sports and has an app designed for Android and iOS devices. However, those who wish to trade in cryptocurrency may find that payments take some time.
3. Jeetwin
Jeetwin is one of Asia’s most trusted and successful online casino and sports betting platforms. Designed for Indian players, in particular, it offers a wide range of bonuses and promotions to reward first-time players and loyal customers. It also offers a user-friendly interface and an efficient payout scheme.
4. Betway
Another global player in the sports betting market, Betway promises an array of betting markets, dynamic betting features, and some of the most competitive odds anywhere. One drawback, though, is that their bonuses are subject to certain restrictions.
Is IPL cricket betting legal?
In India itself, while betting and gambling are largely illegal and governed by various state laws, the legislation regarding sports betting is more ambiguous. That is largely because the law has still not caught up with online betting and the internet and also because some campaigners argue that betting relies on chance rather than skill, which would make it illegal.
Outside India, the situation is country-specific. In many countries, there is virtually no regulation, although there are frequent rules in place to ensure betting companies cannot advertise to vulnerable groups like children. In other countries, though, it is prohibited, and those found guilty face severe punishments. Those in doubt should check the legal position in their own country.
Laws can and do change, so keep abreast of changes to legislation.
IPL data analysis and betting strategy
As indicated earlier, it is desirable to do some research in order to tilt the odds in one’s favour when betting on IPL cricket. This means analysing each team and its players. Look at batting and bowling averages, remembering that in T20 crickets, economical bowling is just as crucial as taking wickets. And, while historical data and trends are important, recent forms count for more.
A batter, for example, may have made centuries and the fifties in the past, but if their confidence is low or a problem with their technique has suddenly arisen, then do not bet on them being at their best.
Also, read the opinions of experts, but make sure that they have the requisite knowledge and understanding of the game. One problem with the IPL’s popularity is that so many people follow and commentate on it that it can be difficult to distinguish fact from fiction. Former players often make the best guides because they have played in tournaments like the IPL and understand the pressures associated with them.
Top 3 tips for IPL cricket betting
There are many betting options available for IPL cricket betting.
The simplest is a straight bet on who will win the match. Bets can also be made on who will be the top scorer and who will take the most wickets. Another popular bet is on the top number of runs that will be scored in the match. The bookmaker will set a figure, and the better has to choose whether the number of runs scored will be greater or lesser than this number.
Numerous other bets can be made, such as the number of no-balls made, the number of sixes scored, catches taken in the field, etc.
However, it is recommended that beginners stick with the simpler bets and work up to some of the others once they feel that they understand IPL cricket betting and have had some success with it.
1. Value betting
The concept behind value betting is to place sports bets that have a higher chance of success than the implied odds. This theoretically gives the placer of the bet an edge over the bookmakers, although a certain element of caution should be attached to this claim. Bookmakers always have an advantage because of their superior knowledge and resources, and they tilt the odds in their favour anyway by including a margin in them.
Value betting involves some work for those placing the bet because they need to take the time to understand the probability of an event occurring and identify where the odds might have been mispriced.
A word of caution, though. The bookmakers have resources – actuaries, deep learning machines, powered by AI- beyond the reach of any individual. That means that any odds they quote are always going to be extensively calculated and researched, so value opportunities will always be limited.
2. Set a reasonable budget and manage funds.
Betting should be fun, and people should never bet more than they can afford to lose. That means they need to be disciplined and set aside a budget, and once they have exceeded it, they should not bet more until they have enough surplus cash to do so again. In the long run, few people make any money from betting because the house always wins. Never let betting become an addiction.
3. Avoid impulsive betting
That also means never bet without first considering the permutations because that is not a recipe for either short-term or long-term success. And never chase losses by doubling bets, for example. That could lead to debt and a host of problems—financial, mental, and psychological.
Sometimes, if people find themselves in the middle of a losing streak, the best course of action is to stop betting for a few days, go and do something else, and allow time for the head to cool.