The Indian Premier League is one of the most popular test cricket leagues in the world, featuring top players from around the globe. The T20 cricket format means high-octane matches, thrilling finishes, and unpredictable outcomes.
The popularity of cricket has resulted in huge interest in the IPL betting market, so you'll never struggle to find your ideal wager on betting sites. However, betting on cricket can be a challenge, especially if you are new to the game or unfamiliar with the teams and players. To maximize your chances of success, you need a solid betting strategy and must follow a few key tips to ensure you aren't tanking your bankroll.
Whether you are a seasoned bettor or a casual cricket fan, these tips and tricks should give you a better understanding of the IPL betting landscape and help you make more informed decisions.
Understand the Basics of IPL Betting Odds
Before you place your bets, it's important to understand the basics of IPL betting odds. Odds are a way of expressing the likelihood of an event occurring. For instance, if a team has odds of 2.00 to win a match, it means that the bookmaker expects them to win with a probability of 50%.
In IPL betting, odds are typically presented in decimal format (but you change this in your settings at any time - the American Odds format is also very popular). The higher the odds, the lower the probability of the event occurring, and the higher the potential payout if the bet is successful. For instance, if a team has odds of 4.00 to win a match, a $10 bet on them would return $40 if they win.
Do Your Research
To increase your chances of winning, it's important to do your research before placing your bets. This involves analyzing the teams' past performance, their strengths and weaknesses, and the conditions they're playing in. You should also consider the players' form, injuries, and availability.
Additionally, keep an eye on the weather forecast as it can have a significant impact on the match outcome. For instance, rain can disrupt the match, resulting in a lower score or a shorter game.
Bet on the Right Markets
IPL betting offers a wide range of markets to bet on, including match-winner, total runs, top batsman, and top bowler. It's important to choose the right markets based on your research and betting strategy.
For instance, if you're confident that a team will win a match, it's better to bet on the match-winner market than the total runs market. Similarly, if you have good knowledge of a particular player's strengths, you can bet on them to be the top batsman or top bowler in the match.
Manage Your Bankroll
Bankroll management is crucial in IPL betting, as it helps you avoid losing all your money in a single bet. It's recommended to set a budget for your betting and to stick to it. You should also avoid chasing your losses by betting more than you can afford.
A good rule of thumb is to never bet more than 5% of your bankroll on a single bet. This way, even if you lose a few bets in a row, you'll still have enough funds to continue betting.
Take Advantage of Bonuses and Promotions
A great way to boost your bankroll and lower your risk, is by taking advantage of bonuses and promotions offered by bookmakers.
Many bookmakers offer welcome bonuses, free bets, and other promotions to attract new customers. These bonuses can provide you with extra funds to bet with, increasing your chances of winning.
However, make sure to read the terms and conditions of the bonuses carefully before accepting them. Some bonuses come with wagering requirements, which means you have to bet a certain amount before you can withdraw your winnings.
There are various ways to approach IPL betting, each with their own downsides and merits. What's most important is trying out various cricket betting strategies to find out what works best for you, whether it's for futures or live betting/in-play bets.
The Dogon strategy is a purely mathematical approach that is quite popular for simple wagers like betting on the outcome of a match and tends to be used by beginners.
The strategy is simply playing catch up to your losses, whereby you double the stakes for each new bet to recover any losses incurred in the previous rounds. This process is repeated until the initial bet's losses are recouped, and potential profits are achieved afterwards.
It's important to note that while the Dogon strategy can be beneficial in the short term, it is an elementary cricket betting strategy that must be used with caution. Reckless use of the strategy can lead to bankruptcy, as it relies on perfect conditions and the assumption that a bettor's bankroll is infinite, which we know is not the case.
The Ladder System is a simple cricket betting strategy that involves staking your entire winnings on the next bet. It is suitable for both experienced bettors and novices.
To increase your chances of success, it is recommended that you choose outcomes with lower odds, such as backing a strong team like Australia over a weaker one like Bangladesh.
This strategy involves specifying the number of bets in a cycle, typically limited to 3 or 5 steps, as each new bet carries a risk of losing everything. While this system is useful for limiting losses, it has a major drawback - if you lose any bet, you lose everything.
Parlay bets are hugely popular for test match cricket. They involve wagering on many different outcomes and pooling together each line into one betslip that amplifies your odds. Parlays are offered by every betting site you can find online.
A simple technique for parlay betting is selecting many individual bets with low odds (between 1-1.2) which, when pooled together, will boost your overall odds and offer a much larger payout.
Of course, even the most certain games where one team is highly favoured to win, may end in a surprise win for the underdog, but these tend to provide a safer way to place wagers with high odds that give the impression of an easier payout.
Check out our full guide to parlay bets here.
Hopefully these tips and tricks will help you navigate betting on the IPL, whether that's for live cricket games or futures wagers. Take these methods with you for simple moneyline bets or even if you prefer prop bets, like the number of runs. But remember, no single strategy will guarantee a boost to your bankroll, so it's a good idea to test out different methods and styles, to find what works best for you.
Always gamble responsibly and when the fun stops, stop!